Bingham

Bingham

Marc A. Reardon

Partner

Marc Reardon is chair of Bingham’s Energy and Project Finance Group. His practice focuses on the development, construction, financing and transfer of electric generating facilities and other infrastructure, including industrial, transportation, recycling and waste disposal facilities.

Marc is regularly recognized on various “best lawyers” lists, including Chambers and Best Lawyers. Marc’s industry accolades include Deal of the Year recognitions by ProjectFinance for his work with Astoria Energy II as project counsel on the 540 MW Astoria Energy II project (2009), with Energy Investors Funds as project counsel for the 620 MW Kleen Energy project (2008) and with GE EFS on the 285 MW Noble Environmental wind project (2007), as well as Astoria Energy (2004). Over the past several years, Marc has represented developers, financial institutions, equity investors and contractors in connection with numerous domestic and international power and infrastructure projects.

Experience

U.S. Transactions
  • Astoria Energy II — Represented Astoria Energy in connection with the development and financing of its new 540 MW combined cycle natural gas-fired electric generation facility in New York City, with capital costs estimated to be approximately $1.5 billion. This deal was named 2009 Americas Power Deal of the Year by Project Finance International.
  • Kleen Energy Systems LLC — Represented Kleen Energy Systems LLC in connection with project development and debt and equity transactions valued at more than $1.3 billion for the construction and long term financing of Kleen’s 620 MW dual fuel fired electric generation project in Middletown, Conn.; successfully closed financing involving a syndicate of more than 20 financial institutions. This deal was named 2008 North American Single Asset Power Deal of the Year by ProjectFinance magazine.
  • GE Energy Financial Services (GE EFS) — Represented GE EFS as tax equity investor in the $600 million financing of a 285 MW portfolio of four wind energy projects developed by Noble Environmental Power and located in upstate New York. This deal was named 2007 North American Renewable Deal of the Year by ProjectFinance magazine and 2007 Americas Environmental Deal of the Year by Project Finance International.
  • Ameresco — Represented the developer and operator in the portfolio financing of seven landfill gas-fired electric generation and landfill gas delivery facilities located in California, Massachusetts, Virginia, Missouri and Texas, including environmental, federal regulatory, electrical interconnection and related matters
  • Atlantic Power Corporation — Represented a major private equity fund in the acquisition and financing of a 155 MW power generation facility in Florida
  • BioEnergy — Represented BioEnergy in connection with development and financing of a 100 million gallon per year corn based ethanol facility in Clearfield, Pennsylvania. $265 million financing closed February 2008 included $140 million multitranche bank loan facility, $65 million tax-exempt bond financing, and approximately $30 million state loans and grants.
  • Energy Investors Funds (EIF) — Represented EIF as developer and 100% owner in a $400 million 400 MW electric generation facility in Fresno, Calif., with financing provided through a long term bond issuance
  • Russell Biomass — Representing Russell Biomass in all aspects of the development of a 550 MW waste-wood fired facility in Russell, Mass.
  • SCS Energy — Representing SCS Energy in connection with the development and financing of the approximately $4.0 billion Hydrogen Energy California (HECA) Project being developed in Kern County, California. When completed, the Project will convert fossil fuels to hydrogen to generate approximately 400MW of clean power, while capturing the carbon dioxide which will be further used for large-scale low-carbon fertilizer production and enhanced oil recovery.
  • Highlands Ethanol LLC — Representing Highlands Ethanol (a joint venture of Verenium and BP) in connection with its development and financing through the Department of Energy of a cellulosic ethanol plant in Florida
  • Advanced Power Systems (NA) LLC — Representing Brockton Power LLC in connection with development and financing of 350 MW gas-fired power facility in Brockton, Mass.
  • Astoria Energy — Represented Astoria Energy as developer in a complex refinancing of the construction financing of a 500 MW gas-fired power plant in the Astoria section of New York City involving $725 million in long-term financing in the form of bank loans and over $100 million in letters of credit to support contractual obligations to contract counterparties, debt service reserve requirements and working capital needs; also in 2004 represented Astoria Energy as developer in all aspects of the permitting, development and construction financing of plant, involving $700 million in debt financing funded in the B Loan market and $283 million in equity financing provided from several different sources and incorporating several unique features including a conduit financing structure involving the Liberty Development Corporation and the credit enhancement of the EPC contractor’s obligations. Named as 2004 North American Single Asset Deal of the Year by ProjectFinance magazine
  • Midwestern Electric Cooperative Sponsor — Represented Midwestern electric cooperative sponsor of an approximately 600 MW coal-fired electric generation facility in connection with negotiation of a joint development arrangement with electric utility subsidiary
  • Portland Natural Gas Transmission System — Represented Portland Natural Gas Transmission System, a major interstate gas pipeline system, in refinancing of $275 million in construction debt
  • Major Insurance Company — Represented a major insurance company in refinancing of large hydroelectric facility in Northeastern U.S.
International Transactions
  • Represented major financial institution in connection with proposed purchase of 30MW geothermal electric generation facility (Costa Rica)
  • Represented sponsor of gas fired electric generation and LNG import and regasification facility in connection with the sale of its 50 percent ownership interest (Puerto Rico)
  • Represented investor and major energy company sponsor of electric generation (125MW) and municipal sludge gasification project in connection with development and financing (Scotland)
  • Represented investor in coal fired electric generation facility and mining operation (Queensland, Australia)

Awards & Honors

  • IFLR1000, Banking and Finance (2014)
  • Legal 500 US, Project Finance (2012)
  • Best Lawyers, Boston Project Finance Lawyer of the Year (2012)
  • Best Lawyers, Project Finance (2008–2012, 2014)
  • Super Lawyers, Massachusetts (2004–2013)
  • The International Who’s Who, Project Finance (2006–2013)
  • Chambers Global, Projects (2010–2014)
  • Chambers USA, Projects (2006–2014)
  • Super Lawyers, Energy and Natural Resources (2010)
  • Irish Voice, Irish Legal 100 (2011–2012)

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