Buckeye Partners’ Acquisition of Solar Development Project in Hill County

Vinson & Elkins advised Buckeye Partners, L.P. on the deal. Norton Rose Fulbright represented Belltown Power.

As part of its strategic approach to long-term value creation, Buckeye Partners, L.P. has taken another step by acquiring a solar development project in Hill County, Texas from leading renewable energy developer, Dallas-based Belltown Power Texas, LLC.

Located on 1,164 acres approximately 90 miles south of Dallas, the advanced solar development project – with site control and an interconnection agreement complete – is designed for 180 megawatts of planned capacity. Buckeye intends to start project construction later this year with the goal of bringing the development online by December 2022.

This project will bring additional solar generation capacity to Buckeye’s existing renewable energy portfolio and in combination with other recent strategic renewable generation and hydrogen-related investments, will contribute to further diversifying the Company’s revenue sources and positioning Buckeye to meaningfully participate in the energy transition.

Buckeye Partners, L.P., a wholly owned investment of the IFM Global Infrastructure Fund, owns and operates a diversified global network of integrated assets providing liquid petroleum product logistics solutions.

Belltown Power Texas, LLC is a developer of solar photovoltaic and storage projects in ERCOT, with a geographic focus in the North and South Zones.

The V&E corporate team was led by partners Matt Falcone (Picture) and Eamon Nolan with assistance from associates Anastasia Arsenio and Helen Xiang. Also advising were counsel Debbie Duncan and Mary Alexander; counsel Scot Dixon and associate Catherine Parsley; and partner Matthew Dobbins and senior associate Jennifer Cornejo.

Becky Diffen led Norton Rose Fulbright’s team, which included Sam Porter, Josh Rocha, Geetika Jerath, Amanda Rosenberg, Sol Kwon, Amy Mitchell, Eli Gaylor, Bob Greenslade.

Involved fees earner: Becky Diffen – Norton Rose Fulbright; Eli Gaylor – Norton Rose Fulbright; Bob Greenslade – Norton Rose Fulbright; Geetika Jerath – Norton Rose Fulbright; Sol Kwon – Norton Rose Fulbright; Amy Mitchell – Norton Rose Fulbright; Sam Porter – Norton Rose Fulbright; Josh Rocha – Norton Rose Fulbright; Amanda Rosenberg – Norton Rose Fulbright; Mary Alexander – Vinson & Elkins LLP; Anastasia Arsenio – Vinson & Elkins LLP; Jennifer Cornejo – Vinson & Elkins LLP; Scot Dixon – Vinson & Elkins LLP; Matthew Dobbins – Vinson & Elkins LLP; Debra Duncan – Vinson & Elkins LLP; Matthew Falcone – Vinson & Elkins LLP; Eamon Nolan – Vinson & Elkins LLP; Catherine Parsley – Vinson & Elkins LLP; Helen Xiang – Vinson & Elkins LLP;

Law Firms: Norton Rose Fulbright; Vinson & Elkins LLP;

Clients: Belltown Power Texas, LLC; Buckeye Partners;

Author: Martina Bellini