Korea Midland Power’s Texas Solar Project

White & Case LLP has advised Korea Midland Power Co., Ltd., a Korean corporation (KOMIPO), and its affiliated US subsidiaries on its Texas solar project.

The transactions included (i) an acquisition by KOMIPO of a proposed 130 MW-ac solar energy project located in Frio County, Texas (the Project) from an affiliate of 7X Energy, Inc.; (ii) construction and back-leverage financing for the Project from affiliates of MMA Energy Capital; and (iii) the signing of the equity capital contribution agreement for the tax equity investment by Morgan Stanley Renewables Inc. in the Project.

The Project is the first Texas solar project implemented by a Korean government-owned power company in response to the growing global efforts to reduce greenhouse emissions and intergovernmental cooperation to fight climate change.

The White & Case team was led by partner Raymond Azar (Picture; New York) and local partner Sarah Park (Seoul). The team also included partners Seth Kerschner, Ian Cuillerier (both in New York) and Daniel Hagan (Washington, DC), partner of counsel Sylvia Chin (New York), counsel Harold Bulger (Washington, DC), Elodie Gal (New York) and Michael Rodgers (Houston), and associates Jeffrey Godly, Mallika Singh, Raffaele Turco, Adriana Zhan (all in New York) and Mijin An (Seoul).

Source: globallegalchronicle