San Francisco, California 9410
a partner in Orrick’s San Francisco office, is a member of the Energy and Project Finance Group. He has more than 30 years experience in project development and financing. Mr. Spielberg’s practice includes a broad range of project finance and energy transactions for both renewable energy and conventional power projects and covers all stages of project development, construction and financing, as well as project acquisition and disposition. He has particular expertise in the negotiation of power purchase agreements, construction and supply contracts, and other agreements for project development construction and in the construction and long term financing of projects.
Mr. Spielberg has been recognized by The Best Lawyers in America in the area of Project Finance Law. He has been named one of the leading lawyers in Projects and Energy by Chambers USA Guide and has been selected as one of the outstanding project finance lawyers in the United States by Who’s Who International. He has also received many “Deal of the Year” awards from Project Finance International.
Representative transactions include the following:
Negotiation and implementation of a combined solar power purchase and sale and economic development transaction on behalf of the project sponsor providing for the development of up to 400 MW of solar photovoltaic power projects and investments of more than $100 million in the host community.
Numerous power purchase agreements for renewable energy projects throughout the United States, including photovoltaic and concentrating solar, wind, geothermal and biomass projects. Notable agreements including several agreements in excess of 100 MW, up to 550 MW, for solar photovoltaic projects with different utility purchasers and a series of long term agreements for the sale of 425 MW of geothermal energy to a utility purchaser.
Construction and long term debt and equity financing of more than $400 million of a state of the art geothermal power project on behalf of the sponsor and project company.
$1 billion secured revolving construction loan facility on behalf of the project sponsor for the construction of a portfolio of eight gas-fired power plants throughout the United States and the refinancing of this facility through a multiple tranche $1 billion bond and term loan offering secured by seven of the power plants.
$2.5 billion secured revolving construction loan facility on behalf of the project sponsor for the construction of 12 or more gas-fired power plants throughout the United States and the refinancing of this debt by a $2.6 billion combination of bonds and term loans based on the anticipated spark spread revenues from 14 gas-fired power plants.
$377 million construction and term financing of a 612 MW gas-fired project, including negotiation of the long term power purchase agreement supporting the financing.
Multiple power purchase agreements for fossil fuel energy projects, particularly gas-fired facilities, for thousands of MWs of capacity, including physical and financial tolling agreements, agreements with utilities, industrial offtakers and governmental entities.
Development, construction financing and long term equity financings of approximately $300 million each for a 150 MW wind energy project and a 130.5 MW wind energy project for the sponsor and project companies for both projects.
The structured acquisition of a 300 MW wind energy facility in development, including a staged purchase agreement involving multiple milestones, joint development arrangements and long term payment obligations covering the acquired project and a related project.
Tax equity investment on behalf of a major bank in connection in two large wind energy projects.
Structuring and negotiation of the first contracts to be signed with the California Department of Water Resources during the California energy crisis on behalf of a major independent power producer and the subsequent renegotiation and restructuring of these contracts and the settlement of all claims of the State of California arising out of the energy crisis.
Development of financing programs for residential rooftop solar systems using both power purchase agreements and homeowner leases.
EPC and other construction contracts on behalf of project sponsors for both renewable and fossil fuel projects for projects up to $1 billion, including turnkey, owner-construct and modified owner- construct contracts.
Interconnection agreements, shared facilities agreements and co-tenancy agreements for phased or jointly developed projects and in connection with acquisitions and dispositions.
|Areas of Practice||1) Energy & Infrastructure, 2) Infrastructure and 3) Renewable Energy|
|Law School||J.D., Order of the Coif, Stanford Law School, 1976|
|Education||B.S., Electrical Engineering, Massachusetts Institute of Technology, 1973|
|Bar Member / Association||State bar of California|
|Most recent firm||Orrick, Herrington & Sutcliffe LLP|
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