Husch Blackwell Sanders represented NV Energy, Inc. (NYSE: NVE) in its recently announced agreement to sell its California electric distribution and generation assets to California Pacific Electric Company, a newly formed company jointly owned by Algonquin Power Income Fund and Emera, Inc.
The transaction includes the California electric distribution and generation assets of Sierra Pacific Power Company, which currently provide electric distribution service to approximately 47,000 California based customers in the Lake Tahoe region.
The Husch Blackwell team on the deal included Jim Goettsch and Brad Bacon, partners in the Kansas City office, Marvin Griff, a partner in the Washington, D.C. office and Greg Steinberg, an associate in the Kansas City office.
The transaction is Husch Blackwell's seventh regulated utility purchase or sale transaction for its clients in the past four years, with an aggregate value of more than $2 billion. During that time, the firm has represented regulated utilities, merchant power generators and other energy companies in deals totaling more than $5 billion.