Structuring Proxy Revenue Swaps in Wind Energy Projects

Leveraging a New Financial Product to Mitigate Energy Price Risk and Wind Resource Uncertainty

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, May 23, 2017
Recorded event now available


This CLE webinar will provide guidance to energy counsel on the use of proxy revenue swaps (PRS) in wind energy projects to mitigate uncertainty associated with price and wind resource risk. The panel will give an overview of the product and how it is intended to mitigate risk, as well as examine how the PRS differs from other products in the market and discuss certain key provisions set forth in a PRS.

Description

The PRS helps companies manage the unpredictability of power prices and wind resource by swapping the floating revenues from a wind project for a fixed annual payment.

PRS are long-term trades that are complex and must be carefully structured. Counsel must understand the challenges, realities and expectations when determining whether to use PRS and also in structuring PRS in wind energy projects.

Listen as our authoritative panel of energy attorneys examines the PRS and discusses the key factors the parties should consider when deciding whether to use PRS. The panel will also discuss certain key provisions in a PRS.

Outline

  1. Overview of the PRS
  2. Comparison to other products in the market
  3. Key provisions

Benefits

The panel will review these and other key issues:

  • What is a PRS?
  • How does a PRS compare to other products in the market?
  • What are key provisions included in a PRS?

Faculty

Robert Eberhardt, Partner
Chadbourne & Parke, New York

Mr. Eberhardt’s practice focuses on the North American power industry. His clients include investors, lenders and sponsors, and he advises on project financings, investments, development, and project acquisitions and dispositions. Mr. Eberhardt has significant experience with complex financings and other transactions involving wind, solar and natural gas-fired generation projects.

John J. Leonti, Partner
Troutman Sanders, New York and San Francisco

Mr. Leonti helps clients structure, negotiate, document and execute complex financial transactions in the energy sector, including tax equity transactions utilizing partnership and lease structures, debt transactions, and hedge transactions using over-the-counter derivatives (including physical and financial renewable energy hedges). He has acted as counsel to major utilities and their competitive subsidiaries, tax equity investors, independent power producers, renewable energy developers, lenders, investment banks, private investment funds and power marketers.



Webinar

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Program Materials

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Program Materials

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CLE Credits

Many states grant CLE credits for on-demand streaming audio programs and recorded events. Our programs are pre-approved in many states. Refer to our state CLE map for state-specific information.

Customer Reviews

I liked that the webinar offered practical information about the topic.

David Weinstein

Archer & Greiner

I thought the handouts were very helpful and that the presenters did a nice job adding to the handouts during the presentation.

Kathryn Spillers

Greenberg Glusker

The presentations were at such a high level that even a practitioner with basic knowledge of the subject could take away pertinent learning.

Van Hilderbrand

Sullivan & Worcester

The speaker was eloquent, easy to listen to and understand.

Karina Terakura

Kronick Moskovitz Tiedemann & Girard

I thought it was helpful to hear about a topic that does not seem to be discussed very often.

Jessica Millett

Linklaters

Environmental Law Advisory Board

John J. Allen

Partner

Allen Matkins

Albert M. Cohen

Partner

Loeb & Loeb

Aaron Courtney

Partner

Stoel Rives

Andrew N. Davis

Partner

Shipman & Goodwin

David R. Gillay

Partner

Barnes & Thornburg

Paul E. Gutermann

Partner

Akin Gump Strauss Hauer & Feld

Brian D. Israel

Partner

Arnold & Porter Kaye Scholer

Thomas J. P. McHenry

Partner

Gibson Dunn & Crutcher

James B. Slaughter

Principal

Beveridge & Diamond

Jeffrey A. Smith

Senior Counsel

Sidley Austin

E. Gail Suchman

Special Counsel

Stroock & Stroock & Lavan

Gregory D. Trimarche

Senior Counsel

Ring Bender

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