Energy
SWA’s energy practice delivers coordinated advice in representing a broad range of companies in the energy industry on energy trading and supply agreements, litigation and transactional matters.
Energy Trading and Supply Agreements
SWA attorneys negotiate a wide spectrum of commercial energy agreements including wholesale energy trading agreements, retail energy supply agreements and agreements for the purchase and sale of environmental attributes. We have extensive experience in standard industry documentation for physical and financial energy commodities as well as in developing approaches for addressing the unique concerns of trading renewable energy credits (RECs) and Regional Greenhouse Gas Initiative credits. Through negotiations with most major industry participants, our attorneys are familiar with market standards and developing trends. This enables us to provide informed advice on the increasingly complex area of legal risk assessment and control. We believe that effective representation of client interests involves interacting with our clients’ internal credit, tax, compliance, legal and business professionals. Such communication allows us to develop in-depth knowledge of client business goals, counterparty risk concerns and other client-specific issues. In particular, we work closely with our clients’ credit groups to put credit support documentation in place to mitigate the credit risks posed by these agreements.
Services provided include:
- Negotiating master trading agreements for energy commodities and energy derivatives.
- Negotiating security agreements, guaranties and letters of credit.
- Conducting risk analyses for participation in wholesale and retail RFPs.
- Negotiating General Terms & Conditions and stand-alone agreements for the purchase and sale of RECs, as well as creating addendums to industry standard documents (EEIs, ISDAs) to facilitate REC trading under those agreements.
- Advising on novel legal issues arising in master agreement negotiations.
- Working with credit analysts to help evaluate and resolve credit issues related to counterparty positions.
- Providing guidance in connection with entering into new energy trading platforms and negotiation of user participation agreements.
- Developing and updating client template documentation for energy trading (NAESBs, EEIs, ISDAs, Petroleum Products General Terms & Conditions) and REC transactions.
Our attorneys have extensive experience with agreements related to both domestic and foreign energy trading, including:
- NAESB master agreement (including the Canadian Addendum)
- EEI master agreement (including REC Annex)
- LEAP master agreement
- ISDA master agreement (including North American Gas Annex, North American Power Annex, U.S. Crude Oil and Refined Petroleum Products Annex and REC Annex)
- EFET master agreement
- REC General Terms and Conditions as well as purchase and sale agreements
Transactional and Litigation Matters
SWA attorneys provide corporate, commercial, litigation and transactional legal services to our clients in the energy industry.
Services provided include:
- All stages of U.S. litigation
- Commercial agreements
- Compensation and equity plans
- Corporate governance
- Debt and equity financing
- Employment matters
- FCPA compliance
- Mergers & acquisitions
- SEC reporting
- Structuring joint ventures with local partners
Transactional Engagements have included:
- Representing a developer and manufacturer of renewable power solutions on their SEC reporting, private placements of stock, financing and commercial agreements.
- Representing an unconventional oil exploration and development company in a joint venture with a leading international oil and gas company for the development of shale oil technology and resource.
- Developing adaptable set of template documents for renewable energy solution provider to be used in multiple applications and jurisdictions.
- Representing alternative energy technology company in registration of shares for resale.
- Drafting transaction documents and industry and business disclosure for an offering memorandum of a company in the liquid and compressed natural gas distribution industry.
- Representing energy company in connection with purchase of intellectual property assets used in the manufacture of solar grade silicon from debtor in possession pursuant to Section 363 of the United States Bankruptcy code.
- Drafting investment documents, including securities purchase agreements and convertible debt securities for company developing technology to produce solar grade silicon more efficiently.
- Representing issuer in connection with solar energy technology company filing registration statement with the SEC; handled all aspects of industry related disclosure, and responded to SEC comments.
- Advising solar technology company in connection with potential merger with recycler of raw materials which could be vertically integrated at substantial savings into the process of manufacturing solar grade silicon.
Litigation Matters have included:
- Representing leading developer and manufacturer of renewable power solutions in dispute related to misappropriation of trade secrets, unfair competition and other business torts.
- Representing alternative energy technology company in complex patent ownership dispute in Federal court for the District of Massachusetts.
