Our world-class project finance team has extensive experience around the globe advising on some of the largest and most complex project developments and limited recourse financings in the energy and infrastructure sectors. We have experience advising on limited recourse financings involving almost all major international financial institutions (including ECAs, DFIs, and MLAs), advising in respect of project bonds, Islamic financings (including sukuk), and many key commercial banks. Our holistic, one-stop business solution, coupled with our overarching commitment to delivering success for our clients, makes us first choice for leading energy and infrastructure companies worldwide.

With our commitment to supporting clients with developing, financing, constructing, and operating major infrastructure projects and facilities and buying, selling, and investing in infrastructure assets and enterprises, we have the deep knowledge necessary to understand risk allocation necessary for an appropriately structured project financing. We understand the contractual, statutory, and practical mechanics and dynamics associated with long-term, limited recourse single-asset financings and we know how to structure projects to attract financial institutions and the investment banking community, while preserving the interests of the sponsors and project.

Clients benefit from our extensive on-the-ground execution capabilities in Asia and the United States.

We are recognized as one of the leading project finance teams in Asia, providing region-wide coverage in all core areas. Led by four partners, our Tokyo and Singapore teams operate globally across industry sectors focused on renewable and conventional power, oil & gas (including LNG), mining, petrochemicals, infrastructure development, and transportation projects. We represent sponsors, lenders, and construction contractors. We also have a dedicated acquisition finance team that benefits from this sectoral experience.

In the U.S., our team in California represents developers and investors in renewable energy transactions, build-transfer agreements, tax equity financings, negotiating supply agreements, construction contracts, and offtake arrangements. Our Washington, D.C. team represents export credit agencies, project sponsors, and multilateral agencies focusing on international project finance, political risk insurance, and cross-border investment transactions, as well as U.S. energy project finance transactions, with a particular emphasis on structuring, lending, political risk, and intercreditor issues.

While we have a global reach and deep experience, our clients especially benefit from our familiarity with U.S. government and multilateral regulations, policies, and practices. In the United States, we identify the tax and financial incentives available for solar, wind, and other alternative energy projects, including U.S. federal tax credits, U.S. Treasury grants, and structuring projects to accommodate tax equity investors. Our regulatory lawyers advise on FERC, OFAC, FCPA, and CFIUS and our state and local U.S. tax lawyers advise and assist project sponsors on potential property tax exemptions, investment tax credits and incentives, rebate programs, and other local incentives. We also advise on structuring transactions to minimize potential transactional taxes, and maximize state and local income and franchise tax incentives.

Mexican Power Stations and Pipeline Acquisition.
We represented Mitsui & Co., Ltd. and Tokyo Gas Co., Ltd. in their $1.2 billion acquisition of a controlling interest in five gas-fired combined cycle power stations in Mexico with an aggregate total generating capacity of 2,233MW and a related gas pipeline company, and in connection with the financing for such acquisition.
South Texas Nuclear Power Project Units 3 & 4.
We represent Toshiba America Nuclear Energy Corporation (TANE) in its role as EPC contractor for the design and construction of a two unit, 2,800 MW Advanced Boiling Water Reactor nuclear power plant at the South Texas Project in Texas.  Also representing TANE in connection with a vendor financing credit facility made available to one of the owners of the new units at the South Texas Project.
Department of Energy/BrightSource Solar Power Projects.
We represent DOE as loan guarantor in a limited-recourse project financing for construction of three concentrating solar thermal electric generating plants, totaling 375 MW, to be located near the Ivanpah Dry Lake in the Mojave Desert.
San Cristobal Mining Project
We represent Sumitomo in its purchase, development, financing and operation of Minera San Cristóbal S.A., which owns and operates one of the largest silver, zinc and lead mines in the world, located high in the Andes in Southwestern Bolivia. Sumitomo purchased a portion of its interest in a pre-arranged bankruptcy sale that closed within 71 days of the debtor's bankruptcy filing.
CH Energy/Shirley Wind Power Project
We represent CH Energy, a New York-based energy company, in connection with the acquisition, development, and financing of a 20-MW wind power project in Brown County, Wisconsin. Wind turbines and operations and maintenance services will be provided by Nordex USA, Inc.
Nassau Airport Project.
We represented Nassau Airport Development Company Limited in the negotiation and closing of the financing for a new U.S. departures and pre-clearance building, and renovations of the U.S. and international arrivals facilities and international and domestic departures facilities, located at the Lynden Pindling International Airport in Nassau, The Bahamas.
Overseas Private Investment Corporation
We represented Overseas Private Investment Corporation ("OPIC") in its project financing of a luxury hotel in Kabul, which will be operated by Marriott. The project is part of the U.S. government effort to develop infrastructure, create jobs and increase investor confidence in Afghanistan.
Toshiba America Nuclear Energy's $300 million investment in Nuclear Innovations North America.
Represented Toshiba America Nuclear Energy Corporation in its $300 million investment in Nuclear Innovation North American LLC, a joint venture with NRG Energy Inc. that was formed to develop nuclear projects in North America.
Valladolid III Consortium
We represent the Valladolid III Consortium (Mitsui and Chubu Electric) in the development and financing and ongoing operations of the 525 MW Valladolid III natural gas-fired electrical power facility in Mexico.

Chambers USA
Nationwide: Climate Change (2011 – 2015)
Nationwide: Projects: Renewables & Alternative Energy (2011 – 2015)
California: Environment (2009 – 2015)
California: Energy: State Regulatory & Litigation (2009 – 2014)


Chambers Global
Global: Projects & Energy (2012 – 2015)
Japan: Projects & Energy (2013 – 2015)
Asia-Pacific: Energy & Natural Resources (2013 – 2015)
Canada: Energy Power (Transactional) (2015)
China: Energy & Natural Resources (2013 – 2014)


Chambers Asia
Japan: Projects & Energy: International (2011 – 2015)


Law360
Project Finance Group of the Year (2012 – 2013)


Legal 500 Latin America
Latin America: International Firms: Projects & Energy (2015)


Legal 500 US
Energy – Litigation  (2009 – 2015)
Energy – Renewable/Alternative (2012 – 2015)
Energy – Regulatory (2014 – 2015)
Environment – Litigation (2009 – 2015)
Environment – Transactional & Regulatory (2011 – 2015)
Project Finance (2011 – 2015)
Land Use/Zoning (2009 – 2015)


Legal 500 Asia-Pacific
China: Projects & Energy: International Firms & Joint Ventures (2011 – 2015)
Japan: Constructions, Projects & Energy: Foreign Firms (2009 – 2015)


Legal Media Group
Morrison & Foerster LLP named one of the Top 10 Clean Technology Firms - CleanTech & Renewable Energy 2015


IFLR1000
USA: Project Finance (2011 – 2015)
China: Energy & Infrastructure: Foreign Firms (2015)
Japan: Project Finance: Foreign Firms (2010 – 2015)
Japan: Energy & Infrastructure: Foreign Firms (2015)
Singapore: Energy & Infrastructure (2015)


U.S. News – Best Lawyers Best Law Firms 2015 (Tier 1 Rankings)
National: Energy Law
National: Environmental Litigation
National: Natural Resources Law
National: Oil & Gas Law
National: Project Finance Law
National: Regulatory Energy Enforcement Litigation


Here is what they say about us:

Chambers

“We look to them to bring depth and knowledge for some very complicated regulatory requirements.”
(Chambers USA 2015)

“They’re excellent: high integrity and smart problem solvers.”
(Chambers Global 2015)

“A long-standing name in project finance.”
(Chambers Asia 2013)

Legal 500

“Morrison & Foerster LLP’s environmental litigators show ‘great strategic capabilities’.”
(Legal 500 US 2015)

“Morrison & Foerster LLP is noted for its ‘good response times’ and ‘client-oriented service’ on the energy litigation side, providing a seamless service for energy clients facing litigation, arbitration, enforcement actions and regulatory proceedings.”
(Legal 500 US 2014)

“Morrison & Foerster LLP’s energy team…‘performs excellently.’”
(Legal 500 US)

Puerto Rico Airport Privatization Named Deal of the Year by Project Finance Magazine.


"They are making a name for themselves in renewables."
(Chambers USA 2012)


"…very strong industry knowledge…integrates well with clients…"
(Legal 500 US 2012)

Email Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.

©1996-2019 Morrison & Foerster LLP. All rights reserved.