Linklaters won IJ Global’s 2022 North American Power Deal of the Year award for the firm’s work on the financing of the Trumbull Energy Center, a $1.3 billion natural gas-fired electric combined cycle power generation facility in Ohio. This is the seventh IJ Global Deal of the Year award that Linklaters’ global Energy & Infrastructure Group has received this year alone.

The Linklaters Trumbull team, spanning the firm’s New York and Washington, DC offices, advised global investment firm Sixth Street Partners LLC, alternative credit manager Tor Investment Management, and alternative asset management firm Corbin Capital Partners, L.P. as lenders in connection with the project’s mezzanine credit facility.

Trumbull Energy Center is the only greenfield gas-fired project to have been financed in PJM last year and it is being built to replace a number of higher emitting coal-fired plants that recently retired as well as bolstering output from aging, less efficient, gas-fired projects. The project will provide a cost-effective clean and reliable source of generation that will complement the broader buildout of renewable energy and will be sold into the PJM ATSI Zone.

The project achieved financial close despite macro headwinds in the shape of general financial market volatility, and historically low capacity prices in PJM, demonstrating the sound and prudent financing structure.

The Linklaters team was led by New York Energy & Infrastructure partner Andrew Compton and Banking partner Danelle Le Cren with assistance from the following Energy & Infrastructure attorneys: New York counsel Will Kim, Washington, DC senior associate Nicholas Atwood, New York associates April Kent, Zach Benaharon, and Kana Hayashi, and Washington, DC associate Paulina Sosa. The wider team included New York Restructuring & Insolvency partner Christopher Hunker and associate Uriel Pinelo, New York Tax counsel Gabriel Grossman and associate Nina Hrushko and New York Capital Markets counsel Melissa Ferraro.

Linklaters is at the forefront of the market advising on the development and financing of complex, large-scale projects, highly structured transactions, and mergers and acquisitions in the energy and infrastructure sector across the globe, particularly in connection with renewable and carbon transition projects. The firm recently expanded its US Energy & Infrastructure team with the arrivals of Ron Erlichman, Marius Griskonis, Judy Kwok, and Diana Jeschke.

Linklaters is ranked Band 1 for Projects & Energy in Chambers Global 2022. In addition to IJ Global’s recent Deal of the Year awards, the firm was recently recognized with IJ Global’s Climate Adaptation Award and Americas Renewable Energy ESG Award, IJ Investor’s Americas Conventional Power and Grid Infrastructure Deal of the Year Award, PFI’s Americas Hydrogen Deal of the Year Award, and IFLR Europe’s Project Finance Deal of the Year Award.