Linklaters advised Advanced Power US Holdings Inc. on its US$100 million senior secured revolving letter of credit and loan facility to further its corporate goals and company vision of advancing a sustainable, reliable energy future. Advanced Power is an industry-leading developer, manager, and owner of diverse utility-scale energy-infrastructure assets, including renewables, battery energy storage systems (BESS), high-efficiency combined-cycle natural gas turbine (CCGT) facilities, and modern peaker units.
The new $100 million credit facility boosts Advanced Power’s ability to provide financial security and fund deposits for equipment, commercial offtake, and other project development needs. This capital positions the company to develop its 8-gigawatt pipeline throughout the United States, including the Desert Southwest, ERCOT, MISO, PJM, and SPP power markets. Advanced Power’s current development pipeline includes zero-carbon emitting solar and BESS, high-efficiency CCGT facilities, and modern peaker units.
The Linklaters team advising on this transaction spanned the firm’s New York and D.C. offices. It was led by Partner and Co-Head of Energy & Infrastructure in the Americas Ron Erlichman and included Counsel Nicholas Atwood and Associates Paulina Sosa, In Sun You, and Shun Iwamitsu. The team also included support from Banking Partner Michael Bassett, Energy & Infrastructure and Tax Partner Michael Rodgers, Energy & Infrastructure Senior Counsel Lauren Bachtel and Diana Jeschke, and Associate Josh Berliner.
Linklaters’ Americas Energy & Infrastructure team remains at the forefront of the market advising on the development and financing of complex, large-scale projects, and mergers and acquisitions in the energy and infrastructure sector, particularly in connection with renewable and carbon transition projects. Linklaters is ranked Band 1 for Projects & Energy in Chambers Global and is ranked #1 in IJGlobal league tables for Biofuels, Waste-to-Energy, EV Charging, Hydrogen, Solar, and Wind (Onshore and Offshore).
