Simpson Thacher Represents First Reserve’s Energy Infrastructure Fund in Investments in Eastern Caribbean Assets
01.11.12
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Simpson Thacher recently represented First Reserve’s Energy Infrastructure Fund (“FREIF”) in its partnership with Beowulf Energy (“Beowulf”) to invest in power generation and midstream assets in the Eastern Caribbean.
The initial investment consists of the purchase from Beowulf of a substantial equity stake in Trinity Power Limited (“Trinity”), a 225 MW natural gas fired power plant in the Republic of Trinidad and Tobago. In addition, FREIF and Beowulf are together acquiring a majority stake in the Eastern Caribbean Gas Pipeline Company (“ECGPC”), which is in the planning stages to construct an undersea pipeline to supply natural gas from Tobago to other islands in the Eastern Caribbean. Upon financial close of the debt financing for the pipeline project, FREIF will have the option to become the majority owner of ECGPC.
The Simpson Thacher team included: William Curbow, Ariel Oxman and Kate Yoon (M&A); Kenneth Wyman (Project Finance); John Creed and SeoJung Park (Tax); Aimee Adler and Douglas Tang (Executive Compensation and Employee Benefits); Michael Isby and Timothy Mulvihill (Environmental); Krista McManus (Real Estate); and Abram Ellis (FCPA).