The Firm represented Acadia Power Partners, LLC (APP) and its parent companies in connection with the sale of its electric generating facility, located near Eunice, Louisiana, to two separate buyers. In the first sale, executed in July 2009, Cleco Power LLC (a Louisiana public utility and an affiliate of APP) will acquire one of the facility’s two power blocks (each rated at 580 MW) and a 50% interest in related common facilities. In the second sale, executed in October 2009, Entergy Louisiana, LLC (an unaffiliated Louisiana public utility) will acquire the facility’s remaining power block and 50% interest in the common facilities.
As part of the transactions, the parties negotiated a joint ownership agreement, operating and maintenance agreement, and other arrangements to govern the joint ownership and operation of the newly-separated power blocks and jointly-owned common facilities. The transactions remain subject to various regulatory approvals.
The Simpson Thacher team for the deal included David Lieberman, Brian Chisling, Ann Walker, Jing Zou, Edward Shen, Kirsty MacKay and Jim Thompson (M&A); Nancy Mehlman (Tax); Michael Isby (Environmental); Mardi Merjian (Real Estate); Amy Beller and Jonathan Lin (Regulatory); and J. Scott Dyer (Labor). Paralegal Kathryn Reusi also provided valuable assistance.