A group of institutional investors acquires 100% interest in the Pio Pico Energy Center


Akin Gump, in collaboration with Southwest Generation Operating Company, LLC and J.P. Morgan Asset Management, advised a group of institutional investors in acquiring a 100 percent interest in the Pio Pico Energy Center, a 322-MW simple cycle gas-fired power facility located in Otay Mesa, California, that began operations in November. The seller was a fund managed by the Ares EIF Group, which developed, financed and constructed the Pio Pico facility.

The capacity and energy generated by the project is committed to San Diego Gas & Electric under a 25-year power purchase and tolling agreement.

The Akin Gump team advising the purchaser and Southwest Generation Operating Company was led by Dino Barajas (Picture) and Vladimir Fet, partner and senior counsel, respectively, in the firm’s cross-border transactions practice. They were joined by the following individuals:

Rachel Ramos, associate (cross-border transactions)

Chip Cannon, partner; Scott Johnson, counsel; and Vera Neinast, senior counsel (energy regulation, markets and enforcement)

David Quigley and Paul Gutermann, partners; and Andrew Oelz, senior counsel (environment and natural resources)

Tony Salandra, partner; and Daniel Shlomi and Alex Agahzadeh, associates (real estate)

Howard Jacobson and Joshua Williams, partners; and James Maynor and Ryan Dahan, associates (tax).

Involved fees earner: Dino Elizardo Barajas – Akin Gump; Vladimir Fet – Akin Gump; Rachel Ramos – Akin Gump; Scott Johnson – Akin Gump; George Cannon – Akin Gump; Vera Neinast – Akin Gump; David Quigley – Akin Gump; Paul Gutermann – Akin Gump; Andrew Oelz – Akin Gump; Anthony Salandra – Akin Gump; Daniel Shlomi – Akin Gump; Alex Agahzadeh – Akin Gump; Howard Jacobson – Akin Gump; Joshua Williams – Akin Gump; James Maynor – Akin Gump; Ryan Dahan – Akin Gump;

Law Firms: Akin Gump;

Clients: Southwest Generation Operating Company, LLC;

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Author: Ambrogio Visconti