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Marc A. Reardon’s practice focuses on the development, construction, financing, and transfer of electric generating facilities and other infrastructure, including industrial, transportation, recycling, and waste disposal facilities.
Marc represents developers, financial institutions and equity investors in connection with domestic and international power and infrastructure projects. Marc has been lead development and financing counsel on numerous major new electric generation facility transactions over the last several years including the 700MW Carroll County Energy Center (2015), the 950MW Clean Energy Future Lordstown (2016) and the 1100MW Cricket Valley Energy Center (2017) transactions, among others. Marc’s industry accolades include Deal of the Year recognitions by ProjectFinance for his work with Astoria Energy II as project counsel on the 540MW Astoria Energy II project (2009), with Energy Investors Funds as project counsel for the 620MW Kleen Energy project (2008) and with GE EFS on the 285MW Noble Environmental Wind project (2007), and Astoria Energy (2004). Marc is regularly recognized on various “best lawyers” lists, including Chambers and Best Lawyers.
Before joining Morgan Lewis, Marc was a partner in the corporate practice at another international law firm, where he was chair of their energy and project finance group.
Cricket Valley Energy Center — Represented Cricket Valley Energy Center in project financing of a new 1100MW natural gas-fired electric generation facility currently under construction in Dover, New York.
Sale of Interest in Two Windplants — Represented a private equity firm in its sale of equity interests in two 230MW operating windplants located in Texas.
Oregon II Energy Center/Trumbull Energy Center - Representing Clean Energy Future in the development and financing of Oregon II Energy Center, a 950MW natural gas-fired plant to be located in Oregon, Ohio and Trumbull Energy Center, a 950MW natural gas-fired plant to be located in Lordstown, Ohio.
Indeck Niles — Representing Indeck Energy Services in the financing of Indeck Niles, a 1000MW natural gas-fired plant to be located in Niles, Michigan.
Ohio Power Project — Representing a private equity firm in the development of a new 475MW natural gas-fired plant to be located in Monroe County, Ohio.
Major University Upgrade Project — Representing a major university in connection with soliciting bids and contracting for a campus-wide upgrade of its energy assets and characteristics.
Carroll County Energy, LLC — Represented Carroll County Energy, LLC in a $899 million project financing of a state-of-the-art 700MW combined-cycle natural gas electric generation facility in northeastern Ohio, selling energy, capacity and ancillary services into the PJM market.
Clean Energy Future, LLC — Represented Clean Energy Future, LLC in raising approximately $460 million in equity capital for a new 940MW, natural gas-fired, combined-cycle power generation facility to be constructed in the village of Lordstown, Ohio, with an enterprise value of approximately $980 million.
Astoria Energy II — Represented Astoria Energy in connection with the development and financing of its new 540MW combined cycle natural gas-fired electric generation facility in New York City, with capital costs estimated to be approximately $1.5 billion. This deal was named 2009 Americas Power Deal of the Year by Project Finance International.
Kleen Energy Systems LLC — Represented Kleen Energy Systems LLC in connection with project development and debt and equity transactions valued at more than $1.3 billion for the construction and long term financing of Kleen’s 620MW dual fuel fired electric generation project in Middletown, Connecticut; successfully closed financing involving a syndicate of more than 20 financial institutions. This deal was named 2008 North American Single Asset Power Deal of the Year by ProjectFinance magazine.
GE Energy Financial Services (GE EFS) — Represented GE EFS as tax equity investor in the $600 million financing of a 285MW portfolio of four wind energy projects developed by Noble Environmental Power and located in upstate New York. This deal was named 2007 North American Renewable Deal of the Year by ProjectFinance magazine and 2007 Americas Environmental Deal of the Year by Project Finance International.
Ameresco — Represented the developer and operator in the portfolio financing of seven landfill gas-fired electric generation and landfill gas delivery facilities located in California, Massachusetts, Virginia, Missouri and Texas, including environmental, federal regulatory, electrical interconnection and related matters.
Atlantic Power Corporation — Represented a major private equity fund in the acquisition and financing of a 155MW power generation facility in Florida.
BioEnergy — Represented BioEnergy in connection with development and financing of a 100 million gallon per year corn-based ethanol facility in Clearfield, Pennsylvania. $265 million financing closed February 2008 included $140 million multitranche bank loan facility, $65 million tax-exempt bond financing, and approximately $30 million state loans and grants.
Energy Investors Funds (EIF) — Represented EIF as developer and 100% owner in a $400 million 400MW electric generation facility in Fresno, California, with financing provided through a long term bond issuance.
SCS Energy — Representing SCS Energy in connection with the development and financing of the approximately $4.0 billion Hydrogen Energy California (HECA) Project being developed in Kern County, California. When completed, the Project will convert fossil fuels to hydrogen to generate approximately 400MW of clean power, while capturing the carbon dioxide which will be further used for large-scale low-carbon fertilizer production and enhanced oil recovery.
Astoria Energy — Represented Astoria Energy as developer in a complex refinancing of the construction financing of a 500MW gas-fired power plant in the Astoria section of New York City involving $725 million in long-term financing in the form of bank loans and over $100 million in letters of credit to support contractual obligations to contract counterparties, debt service reserve requirements and working capital needs; also in 2004 represented Astoria Energy as developer in all aspects of the permitting, development and construction financing of plant, involving $700 million in debt financing funded in the B Loan market and $283 million in equity financing provided from several different sources and incorporating several unique features including a conduit financing structure involving the Liberty Development Corporation and the credit enhancement of the EPC contractor’s obligations. Named as 2004 North American Single Asset Deal of the Year by ProjectFinance magazine.
Midwestern Electric Cooperative Sponsor — Represented Midwestern electric cooperative sponsor of an approximately 600MW coal-fired electric generation facility in connection with negotiation of a joint development arrangement with electric utility subsidiary.
Portland Natural Gas Transmission System — Represented Portland Natural Gas Transmission System, a major interstate gas pipeline system, in refinancing of $275 million in construction debt.
Major Insurance Company — Represented a major insurance company in refinancing of large hydroelectric facility in Northeastern US.
Represented major financial institution in connection with proposed purchase of 30MW geothermal electric generation facility (Costa Rica).
Represented sponsor of gas fired electric generation and LNG import and regasification facility in connection with the sale of its 50 percent ownership interest (Puerto Rico).
Represented investor and major energy company sponsor of electric generation (125MW) and municipal sludge gasification project in connection with development and financing (Scotland).
Represented investor in coal fired electric generation facility and mining operation (Queensland, Australia).
Awards and Affiliations
Recommended, Finance: Project finance, The Legal 500 US (2019)
Highly Regarded, IFLR1000 United States (2018)
Member, Law Firm of the Year, Energy/Projects: Power (including Renewables), Chambers USA (2018)
Member, Practice Group of the Year, Energy, Law360 (2016)
Member, Energy Law Firm of the Year, US News & World Report/Best Lawyers (2015)
Ranked, Projects, Nationwide, Chambers USA (2006–2019)
Ranked, Projects, USA, Chambers Global (2010–2019)
Recognized, Project Finance, USA and International, Who’s Who Legal (2006–2017)
Leading Lawyer, IFLR1000 Financial and Corporate (2014, 2017, 2018)
Recognized, Project Finance Law, Boston, TheBest Lawyers in America (2008–2020)
Recognized, Energy Law, Boston, The Best Lawyers in America (2018–2020)
Recommended, Finance: Project Finance: Advice to Lender; Industry Focus: Energy Transactions: Conventional Power, The Legal 500 US (2012, 2016-2018)
Recognized, Massachusetts, Energy and Natural Resources, Super Lawyers (2004–2017)