The Firm represented Calyon New York Branch as the administrative agent for a $115 million term loan facility provided to an affiliate of ArcLight Capital Partners. Proceeds from the facility will be used in connection with the acquisition and storage of 100 wind turbines for use in the Alta Wind I Project, the first phase of approximately 3,000 MW of wind power projects to be developed by Terra-Gen Power, LLC in Tehachapi, California. The project has in place a 150MW power contract to sell renewable energy to Southern California Edison. Terra-Gen Power, LLC is a renewable energy company that focuses on the operation and development of wind, geothermal and solar assets across the western United States. The transaction closed on July 14, 2009.
The Simpson Thacher team for the transaction included Ken Wyman, Amy Beller, Jessica Tuchinsky and Brandon Neal (Credit), Jason Vollbracht (Tax), Mardi Merjian and Frank Giovinazzo (Real Estate) and Anthony Minervini (Summer Associate). Paralegal Emily Farquharson provided valuable assistance.