Solar Energy
Straight Talk for the Solar Industry
The emerging solar market accounts for more than a third of venture capital invested in the United States’ energy sector—and solar projects increasingly are part of the project finance market.
From improvement in photovoltaic (PV) system efficiencies to the concentrated solar panel (CSP) field, the solar sector is maturing into a commercial industry that requires technological, legal and regulatory support. As this industry progresses, Andrews Kurth is advising at all stages.
Our counsel includes all aspects of:
- Project Development and Financing
- Energy and Environmental Regulatory Guidance
- Project Acquisition and Divestiture
- Counsel to Growing Companies
Recognized for the power of our Energy practice group, our lawyers have more than 30 years of experience counseling in alternative energy and distributed power sources, such as solar, wind, geothermal, biofuels and hydroelectricity.
Project Development and Financing
Andrews Kurth advises on the development of solar projects, including real estate matters, interconnection arrangements, power purchase and energy hedging arrangements, major equipment purchase contracts, construction contracts and operation and maintenance agreements. We help ensure that ownership and deal structures and contractual provisions are maximized, coordinated and financeable. Our lawyers regularly work with borrowers, lenders and tax equity investors in structuring and negotiating non-recourse development, construction and long-term debt and other financing arrangements for solar projects.
Energy and Environmental Regulatory Guidance
We can provide complete counsel and guidance on the regulatory issues most pressing to solar and renewable energy, including:
- Incentive programs
- Renewable portfolio standards/renewable energy credits
- Interconnection requirements
- Permitting and siting
- Contract approvals
- Metering
- Environmental impact reviews and siting
- Regional Transmission Organizations (RTO) regulations
- Energy carbon credit opportunities
Andrews Kurth lawyers represent clients in regulatory proceedings before numerous state and federal energy regulatory agencies, and advise on regulatory requirements, to obtain needed approvals.
Project Acquisition and Divestiture
As is typical in a growing industry such as solar energy, our clients are actively engaged in the acquisition and divestiture of solar projects (single and portfolio), including operating projects and projects in all stages of development. We assist our clients in navigating the numerous issues that arise in connection with such transactions.
Counsel to Growing Companies
Andrews Kurth represents some of the largest and most well-established energy companies in the world, but we also advise the management of small and developing solar and other renewable energy companies on structural issues, financing, taxation and employment matters and application of securities law. For private equity clients, we advise on private placements of equity and debt—convertible, secured and unsecured. We also regularly advise on:
- Corporate governance
- Intellectual property and technology licensing
- Joint ventures
- Management buyouts
- Mergers and acquisitions of public and privately held companies
Our long-standing involvement with the venture capital and private equity communities has proven to be an important resource for our clients as their companies grow and compete in the marketplace.
Our Experience
Andrews Kurth has a very respectable portfolio of solar work, comprising all aspects of the industry. Recent activities include:
- Representation of Duke Energy in connection with the project financing of a 14 MW AC solar-powered facility located in Bexar County, Texas
- Serving as Texas counsel in connection with the acquisition by MetLife and Longsol of a 30 MW solar-powered facility located in Webberville, Texas
- Representation of an affiliate of a major utility in the acquisition of three utility-scale solar projects in operation or under construction in California and Arizona totaling 26 MW of nameplate capacity
- Representation of Solar Trust of America Contracting (in a joint venture with Siemens) on an EPC (Engineering, Procurement and Construction) contract for the Solar Trust Blythe, California 480 MW concentrated solar project
- Representation of an affiliate of a major renewable energy company in the acquisition of up to ten early-stage utility-scale projects in California, Arizona and Texas with total capacity anticipated being as much as 445 MW
- Representation of solar developers in negotiating joint venture agreements, power purchase agreements, solar REC (Renewable Energy Credit) purchase and sale agreements, interconnection agreements, net metering agreements, EPC contracts, and lease agreements for distributed generation solar facilities in Colorado, Nevada, New Jersey, New Mexico and North Carolina
- Representation of a Georgia electric cooperative in the negotiation and finalization of a solar power purchase agreement
- Representation of a municipal electric utility consortium in the long-term power purchase agreement for a planned 200 MW solar thermal facility in New Mexico
- Provided ongoing IP counsel advice to the backer of a proposed concentrated solar-power systems technology loan regarding patentability and other IP and project development issues
The solar industry operates in a changing statutory and regulatory landscape and we help our clients balance both their evolving business needs and the industry requirements to remain competitive and in compliance.
