Power

Global power demand is surging, driven by rapid electrification, the exponential growth of AI-driven data centers, and industrial manufacturing. Meeting these increasing demands while ensuring energy security and addressing climate change requires a balanced energy mix.

Conventional power remains the primary source of electricity worldwide, playing a crucial role in providing baseload power and grid stability. Advances in battery storage present opportunities to enhance grid performance and reduce costs. Investments in renewable power and nuclear promise a low carbon energy transition.

Orrick’s Role in the Power Industry

Orrick stands at the intersection of the power industry, deeply committed to our clients across the full spectrum. We advise on financing, M&A and development of gas-fired, thermal, geothermal and nuclear power projects, as well as all types of renewable energy and energy storage projects. We also address transmission capacity concerns and are recognized as the #1 firm globally for Power Purchase Agreements, advising clients both on the buy and sell sides and on various offtake structures.

Our clients include public and consumer-owned utilities, developers, IPPs, energy majors and investors. We help them innovate and advance the evolving power sector in key areas:

Innovative Regulatory Solutions for Utilities and Transmission Capacity

Winter Storm Uri Legislation. Orrick led passage of legislation in Texas to help electric cooperatives manage extraordinary costs from the 2021 Winter Storm Uri crisis. Our innovative approach was recognized by the Financial Times Innovative Lawyers awards.
TransWest Transmission Project. We advised on regulatory and commercial issues for this 732-mile project, adding 3,000 MW of transmission capacity with a first-of-its-kind subscriber transmission model.
Calpine. Assisted in negotiating wholesale energy and capacity marketing transactions in the Western U.S., involving regulatory and compliance assistance with CPUC and CAISO.

Next Generation of Natural Gas-Fired Power Plants

TotalEnergies. Advised on the US$635 million acquisition of three gas-fired power plants in Texas.
ProEnergy. Supported the majority sale of its equity to Energy Capital Partners.
Ares. Assisted in the US$860 million development and financing of an 869 MW natural gas-fired power plant in Ohio.

Cutting Edge Work in Renewable and Alternative Power

Engie. Advised on the cash equity sell-down of a 2.7 GW portfolio of renewable generation and battery storage projects in the U.S.
Primergy. Supported the development and financing of the Gemini Solar + Storage project in Nevada.
Changfang and Xidao Offshore Wind Project. Advised the lenders on the US$3bn project financing in Taiwan.
Macquarie Infrastructure and Real Assets. Advised on the acquisition of geothermal power stations in California and Utah.

Pioneering Energy Storage Experience

Intersect Power. Closed US$837 million in financing commitments for three standalone battery energy storage systems in Texas.
esVolta. Advised on one of the first tax equity financings for a standalone storage project.
CIP. Advised on its partnership with Amberside Energy for the development of 2 GW + of solar and battery storage projects in the UK.
Octopus Energy Generation. Assisted with its investment in the Italian green power market to develop up to 1.5 GW of BESS projects.

Investments in Nuclear Power, SMRs, Fusion and Fission

Microsoft. Advised on a 20-year power purchase agreement with Constellation Energy, restarting the 835 MW Three Mile Island nuclear facility, and the world’s first fusion energy purchase agreement with Helion Energy.
MEAG. Supported the financing for Plant Vogtle Units 3 and 4, the first newly constructed nuclear units in the U.S. in 40 years.

Decarbonizing Power through CCUS, Hydrogen and Alternative Feedstocks

Carbon Capture and Storage Facility. Advised a power cooperative on a tax equity transaction for a carbon capture and storage facility, the largest of its type in the U.S.
Equinor. Assisted in acquiring a 25% interest in Bayou Bend CCS LLC, a carbon capture and sequestration project in Texas.
Kyuden International Corporation and Development Bank of Japan. Advised on the minority acquisition of Viridor Energy, a UK waste-to-energy company with 11 operational plants.

Recognitions

Band 1 for Power & Renewables: Transactional, Chambers USA 2024
Energy & Projects Law Firm of the Year 2024, Chambers USA Awards
#1 PPA Legal Advisor Globally, North America and Asia, inspiratia 2024 PPA League Tables
Top Ranked for Power (including Electricity, Nuclear and Renewables) (UK), Legal 500 2024
Top Ranked for Projects & Infrastructure and Projects & Energy (International Firms): India and Japan, Chambers Asia-Pacific 2025
19 Financial Times Innovation Awards for energy sector projects (2010 – 2024)