Susan H. Mac Cormac and Michael C. Graffagna
San Francisco (July 28, 2011) – Morrison & Foerster announced that Joel Friley, a prominent project finance partner with an extensive background in large energy and infrastructure projects, has rejoined the firm as a partner in the San Francisco office. Mr. Friley previously practiced at Morrison & Foerster as both an associate and a partner in San Francisco, London, and New York. He has more recently chaired the project finance and development practice at Canadian law firm MacLeod Dixon in Calgary, where he led numerous cross-border transactions for large power and infrastructure projects in the U.S. and Canada.
Mr. Friley represents parties across the entire spectrum of project finance including project owners and developers as well as equity investors, lenders, government agencies, industrial hosts and contractors. His experience spans renewable and conventional energy projects and public-private partnerships such as hospitals and government facilities. He also has broad transactional experience advising clients on acquisitions, development financing and refinancing, along with restructurings and the sale of major energy and infrastructure projects.
Morrison & Foerster is in the midst of its own recent surge in project finance work. In addition to the firm's longtime role advising on large projects in Asia, Latin America, the Caribbean and elsewhere, the firm is handling an increasing share of large U.S.-based financings. The firm's project clients include export credit agencies, sponsors, lenders and multilateral agencies. Morrison & Foerster is one of the U.S. Department of Energy's (DOE) core counsel in its $38.5 billion loan guarantee program and is currently working on seven separate project financings in the renewable space for the DOE. Most recently the firm represented the DOE in its $1.6 billion in loan guarantees to support the Ivanpah Solar Energy Generating System, three related utility-scale concentrated solar power plants. Our burgeoning Latin America natural resource development practice continues as well with our work for Minera Lumina Copper Chile (a joint venture between Pan Pacific Copper Co., Ltd. and Mitsui & Co., Ltd.) in the $1.4 billion project financing of the Caserones Copper and Molybdenum Mining Project in Chile.
"Our project finance platform continues to expand, especially with the great strides made by our cleantech and energy practices, which has put us in the middle of numerous renewable energy projects for development financing and related assignments," said Susan Mac Cormac, co-chair of the firm's Business Department. "Joel has built a world-class practice, advising global energy providers, leading financial institutions, renewable energy providers and other key players. We're excited to have him play a leadership role in our project development and finance work, in the U.S. and internationally."
Mike Graffagna, chair of the firm's Project Finance & Development Group, added, "Joel has built an outstanding practice. He brings the technical skill set and leadership to further grow our project finance and development work. His cross-border experience and his track record in multiple segments of energy development are especially welcome."
Mr. Friley noted, "My long history with Morrison & Foerster, coupled with the firm's highly regarded cleantech and energy practices, made the firm the clear choice when deciding to return to the U.S. The firm offers an excellent platform for me to serve my existing and future clients and I look forward to making significant contributions to the growing practice."
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