$1.3 billion South Field Energy project

Bracewell LLP represented AP Energy Holdings Inc., an affiliate of Advanced Power AG, and South Field Energy LLC (South Field) in the successful closing of financing and equity arrangements for the construction of the $1.3 billion South Field Energy project, a 1,182 megawatt combined-cycle natural gas electric generating facility located near Wellsville, Ohio.

Bracewell assisted AP Energy Holdings and South Field with all aspects of the project, including commercial and regulatory arrangements, project financing and equity placement for the South Field Energy project. This included representing South Field in its senior secured credit facility arranged by CIT Group Inc., Crédit Agricole Corporate and Investment Bank, GE Energy Financial Services and NH Investment & Securities Co. as the initial coordinating lead arrangers.

Bracewell also represented AP Energy Holdings in connection with the placement of equity in South Field with an investor group consisting of RS Global Capital Investment LLC (a joint venture between Development Bank of Japan Inc. and Showa Shell Sekiyu K.K.), Kyushu Electric Power Co., Inc., Shikoku Electric Power Company, Inc., NH-Amundi Asset Management and PIA Investment Management, and an affiliate of Bechtel Development Company, Inc.

Advanced Power, which led the development of the facility, will be the construction and asset manager. The South Field Energy project is slated for completion in the second quarter of 2021. The completed electric generating facility will sell energy, capacity and ancillary services into the PJM market.

Bracewell advised with a team including Ron I. Erlichman (Picture), Robin J. Miles, Jeris Diana Brunette, Hans P. Dyke, Thomas M. Tomlinson, D. Kirk Morgan II, George D. Fatula, Catherine P. McCarthy, Timothy A. Wilkins, Michele J. Alexander, Steven J. Lorch, Simon E. Stevens, David J. Harty, Seth T. Lucia, Humza K. Deshmukh, Kate B. McGregor, Jason W. Keating, Paul M. McBride, Shannon M. Rice, Blake Urban, Ryan Davis, Stephen J. Hug, Serena A. Rwejuna, Melanie C. Goebel, Luke A. Smith, Caitlin E. Tweed and Catherine B. Engell.

 

Involved fees earner: Ron I. Erlichman – Bracewell; Robin Miles – Bracewell; Jeris Diana Brunette – Bracewell; Thomas Tomlinson – Bracewell; Simon Stevens – Bracewell; Humza Deshmukh – Bracewell; Ryan Davis – Bracewell; David Harty – Bracewell; Jason Keating – Bracewell; Shannon Rice – Bracewell; Luke Smith – Bracewell; Hans Dyke – Bracewell; Kirk Morgan – Bracewell; George Fatula – Bracewell; Catherine McCarthy – Bracewell; Seth Lucia – Bracewell; Blake Urban – Bracewell; Stephen Hug – Bracewell; Serena Rwejuna – Bracewell; Melanie Goebel – Bracewell; Caitlin Tweed – Bracewell; Timothy Wilkins – Bracewell; Paul McBride – Bracewell; Michele Alexander – Bracewell; Steven Lorch – Bracewell; Catherine Engell – Bracewell; Kate Barrington McGregor – Bracewell;

Law Firms: Bracewell;

Clients: Advanced Power AG; South Field Energy LLC;