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BSF Represents Caithness Energy, L.L.C. in Largest Wind Turbine Farm in the World

Corporate Highlights

Winter 2010


Christopher Boies

BSF represented Caithness Energy, L.L.C., an independent power producer headquartered in New York City, in a complex equity financing between Caithness and GE Energy Financial Services relating to the financing and construction of the proposed Shepherds Flat wind turbine farm.  GE EFS, which is part of GE Capital, has a portfolio of more than 40 wind turbine farms.  Shepherds Flat has received the majority of the necessary government permits to operate and is ready to be built.  The wind turbine farm will span 30 square miles in north-central Oregon, near the town of Arlington.

When completed, Shepherds Flat will be the largest wind turbine farm in the world, with 845 megawatts of capacity, generating enough electricity for more than 230,000 households.

Shepherds Flat has contracted to purchase $1.4 billion worth of GE 2.5 megawatt wind turbines for the wind farm.

Shepherds Flat will operate under three 20-year power purchase agreements between the project companies and Southern California Edison, a unit of Edison International.  Its 845 megawatts of capacity will help Southern California Edison meet requirements established by the State of California's renewable-portfolio standard.  The clean energy generated by the project will avoid more than 1.5 million tons per year in greenhouse gas emissions, compared to equivalent fossil fuel generation.

Partners Christopher Boies and Jason Hill, with associates Lauren Salvati, Michael Grisolia, and Laura Ebberson from the Firm's Corporate Group advised Caithness in connection with the Shepherds Flat equity financing.  The multifaceted representation included negotiating the economic terms of GE EFS's investment in Shepherds Flat, as well as drafting operative documents and management agreements for the project companies.

Related Lawyers: Christopher A. Boies, Jason M. Hill, , ,

Related Practice: Corporate