Eversheds Sutherland is pleased to announce that it advised a joint venture of Macquarie Capital's Green Investment Group and Core Solar LLC in the negotiation of a power purchase agreement (PPA) for the sale of approximately 109 MW of solar-generated electricity to a subsidiary of Occidental Petroleum Inc.
Macquarie Capital's Green Investment Group (GIG) specializes in renewable energy infrastructure principal investment, project delivery, management of portfolio assets, and related services. The power sold under the PPA will be delivered from a utility-scale solar facility located in Texas, which is expected to be commercially operational in 2021 and is owned by GIG as part of a joint venture with Core Solar LLC. The PPA has a 12-year term and will be used to power Occidental's Permian operations.
The transaction was led by Eversheds Sutherland Energy & Infrastructure Partner Ram Sunkara with Counsel Stephanie Kroger and Associate Kyle Hayes.
Eversheds Sutherland's global Energy & Infrastructure Practice Group includes more than 200 attorneys throughout Africa, the Americas, Asia, Europe and the Middle East who act for crude oil, natural gas, LNG, electric power, electric cooperative, renewable and alternative energy, oil pipeline and nuclear energy clients.
Eversheds Sutherland represents independent power producers, energy traders, investors, utilities in virtually every type of renewable and alternative energy source including biomass, onshore and offshore wind, solar, plasma arc/waste to energy, hydro, nuclear, biofuels and wave action tidal.
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