Project Development

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Foley’s experience in Project Development is nationwide. We handle PPAs and EPCs, as well as supply chain, environmental, real estate, and regulatory issues across 25 offices and virtually every state. We have pioneered methods to streamline diligence investigations. Our deep tax equity investor and lender practice means Foley can provide unique actionable insights into ensuring projects are marketable and financeable.

Project Development Experience

In a typical year, Foley represents or negotiates with wind and solar project developers, utilities, independent power producers, privately owned and publicly traded project developers, equipment suppliers, and equity investors in acquisitions or project development of over 6.1 GW valued at over $3.2 billion.

The Project Development Roadmap

Offtake Agreements (PPAS)

  • Pricing, purchase options, termination provisions
  • Regulatory issues, milestones, performance guarantees
  • Community solar, virtual net metering, corporate PPA’s

Real Estate Diligence and Risk Analysis (25 local offices)

  • Site control agreements/instruments and necessary amendments
  • Lease options/purchase option agreements
  • Property tax abatement agreements
  • Evaluate and negotiate sufficient title coverage; review ALTA surveys

Interconnection/Shared Facilities Agreements

  • Termination, guaranteed milestones
  • Credit support requirements
  • Regulatory review, queue issues

Corporate Organizational/Purchase Agreements

  • Structuring for acquisition/financing
  • Indemnities/liabilities
  • Milestone payments for purchase price

Engineering, Procurement and Construction Agreements

  • Contractor guaranty/credit support
  • Contract price and change orders/process
  • Performance guaranty/guaranteed milestones
  • Financing considerations and liability Cap

Regulatory Analysis/Review

  • Federal, state and local requirements (PSC/FERC)
  • CPCN (Certificate of Public Convenience & Necessity)
  • Required filings (QF, MBR, FPA requirements)

Operations & Maintenance Agreements

  • Provider credit support
  • Service fees and warranty
  • Performance guaranty and liability Cap

Environmental Review/Permitting and Approvals

  • Environmental/permitting diligence for acquisitions & financing
  • Federal, state, local permitting, environmental compliance
  • CFIUS, AFIDA, BEA reporting and state alien real estate acts

Supply Agreements (Modules, Turbines, Inverters)

  • Transformer storage agreement
  • Evolving battery energy storage system supply agreements (“BESS”)
  • Experience in key terms and provisions related to supply chain issues