Simpson Thacher represented Ironclad Energy Partners, a joint venture between Ironclad Energy Ventures LLC and Stonepeak Infrastructure Partners, in its acquisition of Red Investment LLC and its power plant portfolio from Recycled Energy Development LLC. Red Investment’s portfolio includes four cogeneration and power facilities in New York, New Jersey, Massachusetts and California that produce 121 megawatts of electricity. Terms of the transaction were not disclosed.
Ironclad Energy Partners is a new joint venture between Stonepeak and Ironclad Energy Ventures. Ironclad was co-founded in early 2016 for the purpose of acquiring, developing, owning, operating, and making capital investments in middle-market energy facilities.
The Simpson Thacher team included David Lieberman, Leah Nudelman and Elizabeth Romefelt (M&A); Tim Mulvihill (Environmental); Larry Moss, Alina Grinman and Samantha Steinfeld (ECEB); Marcela Robledo (IP); Krista McManus and Julie Lee (Real Estate); Jonathan Goldstein and Jacqueline Clinton (Tax); and Fan Wei and Deborah Gruen (Funds).