Simpson Thacher Represents First Reserve in Acquisition of Generation Portfolio
Simpson Thacher is representing First Reserve in connection with its acquisition from affiliates of ArcLight Capital Partners of an approximately 1 GW portfolio of generation assets consisting of Hobbs, a 604 MW natural gas-fired power plant in New Mexico; Borger, a 230 MW gas-fired plant in Texas; Waterside, a 72 MW oil-fired plant in Connecticut; and a controlling stake in Crockett, a natural gas-fired plant in California. Terms of the transaction were not disclosed.
The Simpson Thacher team working on the transaction includes Bill Curbow and Bennett Surajat (M&A); Brian Korchin (Credit); Aimee Adler, Stephanie Mash and Doug Tang (Executive Compensation and Employee Benefits); Michael Isby and Tim Mulvihill (Environmental); Brian Chisling and Jonathan Lin (Regulatory); John Creed, Jon Goldstein and Danny Salinas (Tax); and Krista McManus (Real Estate).