Global law firm Clifford Chance advised EDF power solutions North America in connection with the financing and development of the Utah Solar 1 project, a 300 MWac / 394.44 MWdc solar photovoltaic project in Millard County, Utah, backed by a 30-year power purchase agreement with Southern California Public Power Authority for participating member Los Angeles Department of Water and Power.
The project is expected to generate approximately 766,000 MWh of clean energy annually.
The financing consisted of secured credit facilities provided by Crédit Agricole Corporate and Investment Bank, MUFG Bank, Ltd., National Bank of Canada, Société Générale and Standard Chartered Bank. The transaction also included a production tax credit transfer arrangement for production tax credits generated by the project.
Energy and Infrastructure partner Shellka Arora-Cox commented, “We are delighted to have supported EDF power solutions North America on the financing of Utah Solar 1. This transaction reflects the continued importance of sophisticated debt and tax credit monetization structures in accelerating renewable energy deployment and supporting the broader energy transition.”
Arora-Cox led the multi-practice team, working closely with associate Joyce Moore (New York).
The wider team consisted of:
- Tax: Partner Alex Leff and associate Elbert Belk (Houston)
- Project Finance: Associates Henry Myers (New York) and Nicholas Johnson (Washington, DC) and law clerk Javier Melendez (Washington, DC)
- Energy Regulatory: Partner Marcia Hook (Washington, DC)
- Derivatives: Counsel Issac Lee and associate Sylvia Mueller (New York)
- Environmental: Partner Ty’Meka Reeves-Sobers (Houston) and associate Kami McFarland (Washington, DC)
- Financial crimes: Partner Megan Gordon and counsel Catherine Ennis and Jacqueline Landells (Washington, DC)
- Funds: Partner Jefferey LeMaster and associate Dennis Morrisroe (New York)
- ERISA: Partner Paul Koppel and associates Ivona Dimov and Ebony Williams (New York)
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