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Husch Blackwell Represents Algonquin Power Co. in $888 Million Acquisition

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3.23.12

Husch Blackwell represented Algonquin Power Co. (APCo), the renewable power generation subsidiary of Toronto-based Algonquin Power & Utilities Corp. (APUC), in an $888 million deal in which APCo will acquire a 480 megawatt portfolio of four wind projects in the United States from Spain’s Gamesa Corporación Tecnológica, S.A. (Gamesa). The deal was announced Friday, March 9.

The acquisition, which includes wind facilities in in Illinois, Iowa, Pennsylvania and Texas, will double the size of APCo’s independent power generation portfolio.

Husch Blackwell’s energy and infrastructure team, led by Partner James G. Goettsch, represented APCo in all aspects of the transaction, which include: 1) the acquisition by APCo of a controlling interest in a joint venture with Gamesa; 2) a tax equity investment in the joint venture by affiliates of JP Morgan and Morgan Stanley; 3) the negotiation of turbine supply agreements and 20-year operating agreements for each of the wind facilities; and 4) long-term fixed-price off-take arrangements for a substantial portion of the power produced by the facilities.

Other members of Husch Blackwell’s team included Partners John K. Brungardt, John C. Crossley, Eric J. Gervais, John D. Moore, Teresa Reinking, Jason A. Reschly, Christopher J. Rockers, Brogan T. Sullivan, Edward V. Wilson and Associates McGregor K. Johnson, Leo O. Salinger, Bert A. Seefeldt and Michelle A. Torline.

Husch Blackwell's Corporate attorneys respond to the operating and regulatory needs of clients in today’s demanding business climate. The team represents global companies that compete in changing domestic and international business environments and counsels clients in all aspects of business planning and problem solving. In the area of Mergers & Acquisitions, Husch Blackwell advises clients in structuring, negotiating and completing domestic and international acquisitions and divestitures. The firm represents bidders, targets, public and private operating companies, boards of directors, committees of independent directors, private equity firms and management buy-out groups in transactions ranging in size from several million dollars to several billion dollars.