Our Work; Representative Matters
A selection of recent successes includes representing:
- Electrical utility clients in contested proceedings before the U.S. Nuclear Regulatory Commission (NRC) to obtain operating licenses for nuclear power plants and amendments to operating licenses to allow expansion of spent fuel storage capacity.
- NRC licensees in NRC enforcement actions involving alleged violations of operating license conditions and in state actions involving alleged unlawful discharges of radioactive materials and contaminants from nuclear facilities.
- Clients in proceedings before state public utility commissions, reviewing the reasonableness of the costs of constructing nuclear power plants.
- Several equity participants in connection with:
- US$340 million of sale and lease financings of undivided interests in Palo Verde Nuclear Generating Station Unit 2 with Arizona Public Service Company as lessee and with debt consisting of secured lease obligation bonds sold in a public offering.
- US$700 million of sale and lease financings of undivided interests in Palo Verde Nuclear Generating Station Unit 2 with El Paso Electric Company as lessee and with debt consisting of lease obligation bonds sold in a public offering.
- US$250 million of sale and lease financings of undivided interests in Palo Verde Nuclear Generating Station Unit 3 with El Paso Electric Company as lessee and with debt consisting of secured lease obligation bonds sold in a public offering.
- Exelon Nuclear Partners in connection with proposed nuclear facilities in Poland and Lithuania, as well as certain issues related to the Fukushima Daichi facility in Japan.
- Exelon Generation LLC (Exelon) in proceedings before the Illinois Pollution Control Board relating to thermal discharges under Section 316(a) of the Clean Water Act.
- Exelon Corporation in the acquisition of the FitzPatrick Nuclear Facility – scheduled to close in 2017.
- General Electric Company and its subsidiary, United Nuclear Corporation, with regard to remediation issues for a number of former uranium mines in the U.S. Southwest. That work involved interaction with a number of federal and state agencies, as well as the Navajo Nation.
- Luminant Generation Company in a joint venture for the proposed development of an additional unit at the Comanche Peak Nuclear Power Plant.
- Morgan Stanley on the structuring and underwriting of a JPY128.9 billion acquisition bond issued by Nuclear Energy Holdings.
- Pacific Gas and Electric Company (PG&E) in a contract dispute stemming from the U.S. government’s failure to meet its obligation to accept PG&E’s nuclear waste for disposal, which resulted in a US$89 million award judgment for PG&E.
- An owner participant under a leveraged lease of an undivided interest in the Beaver Valley nuclear facility in connection with renewal and end of lease issues.
- A public utility borrower and an insurance company lender in separate nuclear fuel lease financings, including a US$700 million facility supported by commercial paper and intermediate term notes.
- Shaw Group in the preferred provider arrangement between Shaw Group and a major nuclear supplier for the supply of goods and services to the nuclear industry.
- A Texas utility in the divestiture of its Texas generating assets for US$3.65 billion and the negotiation of related power purchase agreements. This transaction was named “North American Power Portfolio Deal of the Year” by Project Finance magazine.
- Wisconsin International Electric Power, Ltd. in connection with financing the proposed conversion of the Bataan nuclear power plant in the Republic of the Philippines.