Linklaters advises lenders on mezzanine financing for $1.3bn natural gas-fired electric combined cycle power generation facility
Linklaters advised global investment firm Sixth Street Partners LLC, alternative credit manager Tor Investment Management and alternative asset management firm Corbin Capital Partners, L.P. as lenders in connection with a mezzanine credit facility extended to an affiliate of Clean Energy Future-Trumbull, LLC (“Clean Energy”). Clean Energy is a joint venture company indirectly owned by Korea Southern Power Co., Ltd., Korean Overseas Infrastructure & Urban Development Corp. and Siemens Energy, Inc.
The proceeds of the credit facility will be used to fund part of the construction of an approximately 950MW natural gas-fired electric combined-cycle power generation facility to be constructed in the Village of Lordstown, Trumbull County, Ohio. The project will connect to PJM.
The Linklaters team was led by New York Energy & Infrastructure partner Andrew Compton and banking partner Danelle Le Cren with assistance from the following Energy & Infrastructure attorneys: New York counsel Will Kim, Washington, DC senior associate Nicholas Atwood, New York associates April Kent, Zach Benaharon and Kana Hayashi, and Washington, DC associate Paulina Sosa. The wider team included New York Restructuring & Insolvency partner Christopher Hunker and associate Uriel Pinelo, New York Tax counsel Gabriel Grossman and associate Nina Hrushko and New York Capital Markets counsel Melissa Ferraro.
About Linklaters’ Energy & Infrastructure practice
Leading global law firm Linklaters’ Energy & Infrastructure team is at the forefront of the market advising on the development and innovative financing of complex, large-scale projects, highly structured transactions and mergers and acquisitions in the energy and infrastructure sectors across the globe. Ranked Band 1 in Chambers Global 2022 for Projects and Energy, we advise on large scale, award-winning and market-leading – covering LNG, thermal power, oil and gas, petrochemicals, renewables, nuclear, water and waste, mining, airports, roads and bridges, ports, stadia, telecoms, and rail-related transactions.
