January 11, 2008
Latham & Watkins advised on the Americas “Environmental Deal of the Year,” as awarded by Project Finance International in its 2007 awards. Latham represented Noble Environmental Power in the development and financing of a portfolio of wind power projects in New York State with a value exceeding $650 million. The transaction involved a novel combination of construction and term debt, tax equity financing and a long term hedge with a tracking account. The judges heralded the deal as the “most ground-breaking environmental financing in a year that saw increasing appetite for risk in wind project financing deals.” Latham & Watkins also advised on three of Project Finance International’s Top 10 Americas deals by size: Mirant’s natural gas-fired power plant acquisition, with Latham providing counsel to the borrower and sponsor, LS Power Equity Partners; Longview Power, in the development of a coal power plant, with the firm advising Goldman Sachs in the financing; and the construction financing for the Sandy Creek power generation facility, with Latham advising Credit Suisse in the financing. Latham also represented the sponsors in the Fujian Refining deal which was named as one of the Top 10 Asia Pacific deals of the year by size.