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KKR and Texas Pacific Group in securing the necessary FERC and NRC approvals for the successful acquisition of TXU Corp. for $45 billion, the largest leveraged buyout in history. The acquisition of TXU included its large fleet of generation assets in Texas as well as transmission and distribution facilities. We also provided counsel on energy regulatory, climate change, government affairs, and public policy matters. The acquired company is now Energy Future Holdings.
Represent COMPETE Coalition on a wide range of FERC and state regulatory matters involving capacity markets, wholesale and retail market structure and competition issues, electricity rates, RTO markets and transparency issues.
Represent Pepco Holdings, Inc. on the negotiation and sale of its 3800 MW Conectiv Energy wholesale power generation business to Calpine Corporation, including securing the necessary FERC approval under the Federal Power Act.
Represent China Investment Corporation in successfully obtaining orders from FERC and the New York PSC approving its acquisition of a 15% interest in AES Corporation.
Represent Comverge, Wal-Mart and Leggett & Platt, large commercial and industrial electricity consumers, before FERC in a matter involving the formation of a capacity market in the Midwest Independent Transmission System Operator (MISO). We intervened in the matter and pressed arguments for the broadening of the MISO capacity market proposal.
Represent PSEG, a large New Jersey electric utility, with respect to a range of transmission-related matters including financial incentives and favorable regulatory treatments for large transmission projects, cost allocation policy for certain transmission investments, and market based rates for new generation projects. We advised on the Northeast Grid Reliability Project sponsored by PSEG, a transmission investment of almost $1 billion, and in particular with respect to the rate incentives applicable to the project. FERC granted a range of incentives for the project. In a separate representation, we advised PSEG in a FERC proceeding that secured rate incentives and certain favorable regulatory treatments for PSEG’s construction of five large high-voltage transmission projects.