Project Spotlight: Chisholm View Wind Project
2012 was a banner year for wind energy (PDF), and our attorneys were thrilled to play a part. The Chisholm View Wind Project, located near Enid, Oklahoma, was a particularly significant project for our firm, and we are excited to share some of the details.
Chisholm View encompasses approximately 45,000 acres and involves over 150 landowners. The project features 140 General Electric wind turbines capable of a combined output of 235 MW/h, enough to power approximately 80,000 homes.
Chisholm View was developed by TradeWind Energy, LLC. TradeWind has a combined 80 years of experience in the independent power development business, including acquisitions and project development across the United States, Europe, Canada, and the Caribbean. TradeWind sold Chisholm View to Enel Green Power North America, Inc., a major global operator in the field of energy generation from renewable sources, with an annual production of 22.5 TW/h. Enel undertook the construction and financing of the project. The offtaker is utility Alabama Power, a subsidiary of Atlanta-based Southern Company.
The Stoel Rives Team
Stoel Rives partner Ed Einowski represented TradeWind in negotiating the power purchase agreement with Alabama Power. In addition, a Stoel Rives team led by Alan Merkle and David Hattery represented TradeWind in negotiating a turbine supply agreement and balance of plant agreement for Chisholm View. A Stoel team led by Ed Einowski also represented owner Enel in negotiating a cash equity partnership agreement worth $375 million with GE Energy Financial Services. Ed Einowski also led the Stoel team representing Enel in connection with negotiating approximately $220 million in tax equity financing with an investor syndicate led by JP Morgan Capital Corp. Attorneys Kevin Pearson, Chad Marriott, Alex Mertens, and Jason Johns, together with a variety of other Stoel attorneys in various energy specialty areas, were key players in helping Enel successfully close these transactions.
"This is a notable wind project in that it represents the first acquisition of 'utility scale' wind power by any of the affiliated group of utilities under the Southern Company umbrella of which Alabama Power is a part," Ed Einowski said. "It also involved a significant number of negotiating challenges to meet all parties' objectives in delivering wind power from the heartland across the Mississippi River to serve Alabama Power's load. We were very pleased to have been able to assist Enel and TradeWind in bringing this project into successful operation and to work with all the other project participants who made this possible."
Additional Project Information