Overview

Timothy Moran is an attorney in Holland & Knight's Washington, D.C., office, and co-chair of the firm's Energy and Natural Resources Industry Sector Group. He is also the chair of the firm's Energy and Infrastructure M&A Finance Team, a multidisciplinary team focused on the acquisition and divestiture of energy/infrastructure assets, portfolios of such assets, and companies owning and operating such assets.

Mr. Moran represents and works on behalf of developers, sponsors, commercial lenders, private equity and tax equity investors in a variety of financial matters related to renewable energy, thermal energy, power infrastructure, and midstream oil and gas projects. Mr. Moran represents his clients in the structuring of complex financial transactions, and in resolving unique legal and commercial challenges. Although he primarily focuses on North American markets, Mr. Moran has spent a substantial amount of working on projects in Eastern and Western Europe, Africa, Asia, Latin America and the Middle East.

Mr. Moran has a wealth of knowledge on the development, financing, acquisition and sale of renewable energy projects, including solar projects and portfolios of solar projects, onshore and offshore wind projects and portfolios and portfolios of the same, gas-fired generation, energy storage (battery) projects, transmission transactions, and midstream oil and gas projects. He leads clients in the purchase or sale of power and midstream oil and gas assets, including the purchase or sale of: 1) all or substantially all of the economic interests in portfolios of wind projects; 2) all or substantially all of the economic interests in portfolios of solar projects; 3) numerous gas-fired generation projects (operating or in development), and portfolios of such projects; 4) numerous midstream oil and gas assets; 5) a number of existing or proposed energy storage projects; and 6) energy parent companies and holding companies. Mr. Moran's clients include U.S.-based parties pursuing either the purchase or sale of U.S.-based assets, as well as purchasers (state-owned entities, strategic parties and private equity) based in Asia, Canada and Europe.

In addition, Mr. Moran has significant experience in drafting and negotiating sponsor-side development documents, including engineering, procurement and construction (EPC) arrangements, purchase and supply arrangements, operating and maintenance arrangements, and overall or turnkey-style development arrangements. He structures and negotiates financing arrangements, including construction and term loan financings, private placements, tax-based equity investments, letter of credit facilities, revolving credit facilities and intercreditor facilities. He represents clients in all aspects of the various manners in which projects, portfolios of projects and holding and parent companies transact and consummate purchases and sales.

Prior to joining Holland & Knight, Mr. Moran led the global project finance team for a multinational law firm, as well as serving as U.S. chair of that firm's Energy M&A and Renewable Energy groups.

Experience

  • Represented an international company in the development and financing of offshore wind projects in North America and Australia
  • Represented an international purchaser in the proposed acquisition of a portfolio of solar projects in the U.S. Southwest region, with an aggregate capacity in excess of 400 megawatts (MW)
  • Represented a North American developer in the anticipated sale of a Texas-based wind portfolio, with an aggregate capacity in excess of 500 MW
  • Represented parties involved in the development of a large-scale offshore wind project to be located off of the state coasts in the U.S. Mid-Atlantic region
  • Represented the lenders in connection with the financing of a portfolio of renewable energy projects to be located in Latin America, with an aggregate capacity in excess of 600 MW
  • Represented the lenders in connection with the landmark, first-of-its-kind project financing of a portfolio of behind-the-meter battery energy storage systems located at various large-load commercial, industrial and government host sites in Los Angeles and Orange Counties, California; the financing was recognized by IJGlobal as the North American Energy Storage Deal of the Year 2017, and with respect to 2018 and 2019 financings, expanded the portfolio for a total of 89 projects
  • Represented purchaser in proposed acquisition of an energy storage development company in the U.S.
  • Represented global oil and gas company in the sale of a portfolio of operating wind projects in Texas
  • Represented the sponsor in an auction by the Bureau of Ocean Energy Management in connection with offshore wind leases
  • Represented the sponsor in the negotiation of a build-to-own construction contract and related long-term maintenance agreement for the construction and maintenance of energy storage units to be owned by a Southwest U.S. utility
  • Represented a foreign investor in the development of a proposal in response to an request for proposal (RFP) by a California utility for an energy storage project
  • Advised a major U.S. independent power producer on the bankruptcy of a wholly-owned subsidiary and reorganization plan in connection with five power plants (totaling 3,313 MWs) encumbered by $675 million of nonrecourse senior secured debt; reorganization plan included an orderly sale through auction of the five power plants, and an acquisition following a successful bid by the independent power producer of one of the plants for $60 million
  • Represented a sponsor in the negotiation of a series of build-to-own construction contracts and related long-term maintenance agreements for the construction and maintenance of multiple energy storage units to be owned by a U.S. utility
  • Served as counsel to the sponsor, borrower and affiliates in connection with a $850 million senior secured holdco Term Loan B credit facility to leverage sponsor's interest in a portfolio of 33 wind, solar and biomass generation projects and distributed electric generation in 15 states
  • Represented the purchaser in the proposed acquisition of a portfolio of gas-fired generation facilities
  • Represented the sponsor in the negotiation of a long-term power purchase agreement for a utility-scale wind project in Maryland
  • Represented a large independent power producer in connection with the tax equity financing of the 198 MW Bluestem Wind Energy Project in Beaver County, Oklahoma; the project's capacity is committed to a major technology company pursuant to a long-term power purchase agreement
  • Represented one of the largest developers of offshore wind projects in connection with aspects of the development of a large-scale offshore wind project to be located off the coast of Massachusetts
  • Represented a global industrial in connection with large-scale North American acquisitions and divestitures of renewable power assets
  • Represented a large U.S.-based independent power producer in connection with acquisitions of stand-alone renewables assets and portfolios of renewables assets.
  • Represented the sponsor, issuer and affiliated project companies in connection with a portfolio project financing, comprised of a $695 million Term Loan B facility and the establishment of a $20 million revolving letter of credit facility to finance the sponsor's continued ownership, operation and maintenance of a portfolio of five combined and simple cycle electricity generation facilities in Texas and aggregating approximately 3,300 MW in average generation capacity
  • Served as counsel to the sole institutional investor in connection with the sale-leaseback financings of multiple photovoltaic energy generation facilities constructed by the same sponsor in North Carolina
  • Counsel to the arrangers and lenders in connection with the restructuring, increase and extension of $1.1 billion of term loan, letter of credit, debt service reserve and working capital facilities for a 550 MW combined cycle power facility, in the Queens borough of New York
  • Counsel to the sponsor, borrower and affiliates in connection with a $300 million senior secured Term Loan B credit facility to leverage the sponsor's interests in a large portfolio of wind projects
  • Represented Japanese, French, Dutch and Danish lenders and financing parties in connection with the proposed financing of the approximately $2.5 billion Cape Wind offshore wind project
  • Represented a joint venture in connection with an investment by a major California-based technology company of approximately $103 million in the joint venture's Mount Signal Solar Project in Imperial County, California, and selling 265.7 MW to a California utility under a long-term power purchase agreement
  • Represented a subsidiary of a large independent power producer in connection with the $613 million 144A financing of a portfolio of wind projects in Idaho, Kansas, Michigan, Oregon, New Mexico and Texas, with a total net capacity equal to 667 MW
  • Represented a developer in connection with the construction and financing of 846 MW of renewable energy projects located within the U.S., as well as lenders in connection with the financing of 515 miles of pipeline and $1.1 billion of additional midstream gas and liquids facilities

  • Represented 13 international lenders, in connection with the $1.2 billion project financing of a power facility in New York City; the financing was named North American Project Finance Deal of the Year 2009
  • Represented a large Asian state-owned entity in connection with proposed acquisition and development of gas-fired projects to be located in West Virginia
  • Represented a major U.S. independent power producer in the development of a coal-fired electric generation facility in Mexico, including negotiation of the power purchase agreement
  • Represented a French bank in the financing of a 245 megawatt (MW) combined-cycle power generating facility in Texas
  • Represented a U.S. sponsor in the development of a coal mine in the Waterberg coal field in South Africa and a coal-fired power generation facility
  • Represented a French bank and largely European lender group in a 144A offering of approximately $700 million in securities representing a beneficial ownership in the property of a special-purpose trust made up of certain promissory notes and secured by a 500 MW power facility in the Queens borough of New York
  • Represented a prominent U.S. independent power producer in the sale of 100 percent of its interests in two large power facilities located within the Pennsylvania, Jersey, Maryland (PJM) Power Pool
  • Represented a French bank in connection with the issuance of $118 million in senior secured bonds and $20 million in subordinated, secured notes to finance the refurbishment of a 113 MW power facility, along with the construction of a 115 MW power facility, in Colorado
  • Represented a major U.S. independent power producer in the development of a deep water coal port facility in Santa Marta, Colombia, a 16-kilometer rail line and a related coal-fired power facility
  • Represented a French bank in the issuance of $117 million in senior secured notes to finance two peaker facilities in Queens County, New York
  • Represented a French bank in connection with a $122 million construction loan and a $11.5 million letter of credit facility to an affiliate of an independent power producer for the construction of a 79.9 MW power facility on Long Island in New York
  • Represented a Canadian independent power producer in the acquisition from a U.S. independent power producer of a 60 percent interest in the partnership owning and operating a 249 MW gas-fired power facility in Pierce County, Washington
  • Represented a major U.S. independent power producer in connection with the development of a 250 MW gas-fired facility in Calgary, Alberta
  • Represented a U.S. sponsor in connection with the development of a coal mine in KwaZulu-Natal, South Africa, and a coal-fired power generation facility
  • Represented a major U.S. independent power producer in connection with an approximately $500 million, private placement debt financing of a 700 MW combined-cycle, natural gas-fired facility located within PJM
  • Represented the commercial and institutional lenders in connection with the $450 million project financing and subsequent restructuring of a power facility
  • Represented a U.S. independent power producer in connection with the development of a power facility in British Columbia
  • Represented a French bank in connection with a $102 million construction loan and additional credit facilities for an affiliate of a U.S. private equity firm for the construction and operation of a 79.9 MW power facility on Long Island in New York
  • Represented a major U.S. independent power producer and its affiliates in connection with the purchase of a portfolio of more than 12 power projects in the U.S. and in Europe
  • Represented various developers in the preparation of proposals for the construction of power facilities in California in response to requests for proposals by all three California utilities, including the evaluation and negotiation of power purchase agreements
  • Represented various independent power producers in the acquisition or bids for more than 100 power facilities

  • Representation of a large U.S. utility/independent power producer in the sale of its commercial industrial solar business, comprised of more than 600 individual solar sites, and more than 100 power purchase agreements
  • Representation of private equity in the proposed acquisition of a renewable energy asset portfolios, with projects located in California and the U.S. Southwest
  • Represented a major U.S. independent power producer in the development and financing of a solar project in Puerto Rico, the first completed with U.S. tax equity financing
  • Represented a U.S.-based joint venture in the development of utility-scale solar projects in Hawaii, including the negotiation of power purchase agreements
  • Represented a global major in the oil and gas space in connection with its intent to enter the offshore wind generation market (in the U.S. and other geographies)
  • Represented an Asian-based state-owned entity in connection with the proposed acquisition of a portfolio of U.S. solar projects
  • Represented a U.S. independent power producer in the sale of biomass-fired power facilities in California
  • Represented a European lender in the bridge financing to fund the development and construction of a wood pellet manufacturing facility in Alabama
  • Represented a prominent U.S. independent power producer in the development of a 200 megawatt (MW) solar facility in California
  • Represented a European bank in the proposed equity and debt financing of a portfolio of solar projects in Canada
  • Represented a private equity in connection with the acquisition of an interest in a 75 MW biomass facility in New Hampshire, as well as loan to an affiliate of the project company
  • Represented a major U.S. independent power producer in the development of a 170 MW wind project near Abilene, Texas, including a short-term construction loan and tax-based equity investment
  • Represented a prominent U.S. independent power producer in the development and financing of a 235 MW wind project in Texas, including an approximately $300 million construction financing and a long-term tax equity investment in reliance on production tax credits
  • Represented a private equity in connection with the acquisition of an interest from the developer and owner of a 100 MW biomass facility in Florida
  • Represented a major U.S. independent power producer in the acquisition of majority interests in two biomass projects in Israel
  • Represented a European lender in the proposed financing of a biomass project to be developed in Hawaii
  • Represented a U.S.-based joint venture in the acquisition and development of various utility-scale solar projects in California, the Midwest and the South
  • Represented European lenders in the proposed debt financing for a solar panel manufacturer
  • Represented a U.S. independent power producer in its acquisition of the Lake Benton wind project, a 106.5 MW facility in Minnesota; the Storm Lake II wind project, 79.5 MW facility in Iowa; and a tax-based equity investment
  • Represented a prominent U.S. independent power producer in connection with the development and financing of a 120 MW wind project, including the negotiation of a production tax credit-based equity investment
  • Represented a small U.S. independent power producer in the development of three utility-scale solar projects in New Mexico
  • Represented the affiliate of two major U.S. independent power producers in the establishment of a strategic joint venture with another large U.S.-based company for the acquisition and development of solar projects
  • Represented the purchaser/project sponsor in the acquisition and financing of two biomass projects in California
  • Represented various independent power producers in the acquisition or bids for more than 200 renewable energy power projects

  • Represented the affiliates of a major U.S. company as co-lead investors in connection with the establishment and initial funding of a $400 million Asian oil and gas exploration and development fund
  • Represented the arrangers and agents in connection with the establishment of a $175 million revolving and letter of credit facility for a crude oil gathering, transportation, terminaling and related service provider used primarily to refinance indebtedness relating to a pipeline and railhead facility in North Dakota
  • Represented U.S. lenders with respect to the acquisition financing of a portfolio of natural gas assets in Louisiana and Texas
  • Represented a public utility in the Pacific Northwest in connection with the project financing of natural gas assets in California and structured as a joint venture with a California utility
  • Represented a German lender, a United Kingdom lender and others in connection with a $280 million loan for the expansion of the Hill-Lake Gas Storage Facility and the Worsham-Steed Gas Storage Facility, each of which is located in Texas
  • Represented a U.S.-based developer in the development and financing of natural gas assets in Mississippi, including the negotiation of senior and subordinated term loan facilities
  • Represented a prominent U.S. company in the acquisition of various gas gathering assets, gas processing facilities and natural gas pipelines in Texas and Louisiana
  • Represented a German lender in connection with construction and term loan financing for the construction of natural gas assets in Tioga County, New York
  • Represented a U.S. lender in connection with an approximately $125 million construction and term loan facility and related revolver with respect to a gas storage project located in Louisiana
  • Represented a major U.S. independent power producer in the sale of various natural gas assets located along the Gulf Coast
  • Represented a U.S. company as co-lead investor in the establishment and initial funding of a $525 million Americas oil and gas exploration and development fund
  • Represented a U.S. lender in connection with the construction and term loan financing of a natural gas pipeline and related natural gas storage facility in northern California
  • Represented a private equity in the proposed acquisition of natural gas pipelines and multiple natural gas storage projects in Louisiana, Texas and Mississippi
  • Represented a U.S.-based developer in connection with the development of a natural gas storage facility in Mexico
  • Represented a U.S. lender in connection with acquisition and construction financing of natural gas assets in the Midwest
  • Represented a U.S. lender and a syndicate of largely European lenders in the construction and term loan financing of a natural gas storage facility and related pipelines in Mississippi
  • Represented an oil and natural gas sectors company in connection with the acquisition and development of exploration sites in the U.S. Gulf Coast region
  • Represented a U.S.-based natural gas services company in connection with its construction, compressor and key supply arrangements and contracts related to drilling in the Barnett Shale
  • Represented the affiliate of a major West Coast utility in connection with the development of material natural gas assets in the U.S. Gulf Coast region.

Credentials

Education
  • University of Virginia School of Law, J.D.
  • University of Virginia, B.A.
Bar Admissions/Licenses
  • District of Columbia
  • New York

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