Kaye Scholer Represents Apex Wind Energy in Sale of Canadian Hills Project
Kaye Scholer represented Apex Wind Energy (Apex), a national developer of utility-scale wind energy facilities both onshore and offshore, in the sale of 99 percent of its stake in the 298 megawatt Canadian Hills project to Atlantic Power Corp (Atlantic).
The first phase was completed in February, when Atlantic purchased a 51 percent stake from Apex for $23 million. Kaye Scholer also represented Apex in the March 30 sale of an additional 48 percent interest in the wind farm to Atlantic.
In connection with the project, the Firm also negotiated Turbine Supply Agreements with REpower Systems SE and Mitsubishi Heavy Industries Ltd. and Power Purchase Agreements with Oklahoma Municipal Power Authority and Southwestern Electric Power Co., and advised on the financing.
To be managed by Apex, construction on the $460 million Canadian Hills project, located about 25 miles northwest of Oklahoma City, will begin immediately and is expected to be completed by late 2012.
Kaye Scholer’s Energy & Project Finance practice works regularly on wind and solar energy development, construction, tax structuring and project finance matters, representing developers, sponsors, lenders and investors.
Led by Renewable Energy Partner Jeffrey Chester, members of the Kaye Scholer advising on the various phases of the project are Vicky Gilbert, Elizabeth Sluder, Justin Johnson, Willys Schneider, Gregg Benson, Julia Schiesel, Andrew Fan and David Cousineau.