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April 12, 2017

King & Spalding Advises Sojitz on Acquisition of Stake in Birdsboro Power Plant

HOUSTON, April 12, 2017 — King & Spalding represented Japan-based trading company Sojitz Corporation on its acquisition of a 33.33 percent equity stake in the Birdsboro Power Plant, a natural gas-fired combined-cycle power generating facility currently under construction in the northeastern U.S. near Philadelphia and Pennsylvania’s Marcellus Shale.

The Birdsboro Power Plant will have a total output of 488 megawatts, and is expected to begin commercial operations in spring 2019, at which point it will supply energy and capacity to the northeastern and mid-Atlantic U.S. within the Pennsylvania-New Jersey-Maryland (PJM) region. Sojitz acquired its stake from a fund managed by Ares EIF Management, LLC.

King & Spalding’s multi-disciplinary, cross-office deal team was led by Houston energy partner Ken Culotta and Tokyo Office Managing Partner John McClenahan. Primary deal attorneys were Houston partner John Crespo and New York counsel Brandon Dalling. Addition team members included Houston partner Angus McFadden, counsel Adrian Talamantes and Monica Hwang and associate Evan Korngold, Washington D.C. partners Neil Levy and Cynthia Stroman, counsels Harold Shaw and Bill Rice and senior attorney Stephanie Lim as well as Charlotte partner Chris McCoy and attorney Natalie Gordon.

About King & Spalding
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