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About Michael

Michael Espinoza represents energy clients on transactional matters with a focus on power, regulated utilities and renewable energy. He advises on a broad array of energy transactions, including mergers, acquisitions and divestitures involving electric generating facilities, regulated electric and gas utilities, retail electric and gas businesses and electric transmission facilities; wholesale and retail power purchase agreements, tolling agreements and energy management agreements; project agreements for traditional and renewable projects; and joint venture, partnership and other investment structures involving the development and ownership of electric generating, storage and transmission assets. He also advises clients on general corporate matters and corporate governance issues.

His clients include regulated utilities and utility affiliates, generation owners, retail energy suppliers, transmission owners, financial institutions, infrastructure funds and private equity investors.

Experience

Recent Notable Matters

Basalt Infrastructure Partners II LP — acquisition of Detroit Renewable Energy LLC, an integrated renewable energy system comprised of Detroit Thermal, Detroit Renewable Power and Hamtramck Energy Services

Hydro One Limited — $5.3 billion acquisition of Avista Corporation in an all-cash transaction, establishing one of North America’s largest regulated electricity and natural gas businesses with more than $25.4 billion in combined assets

Talen Energy Corporation — $189 million sale of Interstate Energy Company LLC, the owner of a natural gas and oil pipeline located in Pennsylvania, to Adelphia Gateway, LLC, a subsidiary of New Jersey Resources Corporation

Great Plains Energy Incorporated — revised stock-for-stock merger of equals transaction with Westar Energy, Inc., creating a company with a combined equity value of approximately $14 billion, and with nearly 13,000 MW of generation capacity and more than 51,000 miles of distribution lines

Power generation company — acquisition of a 276 MW wind generation project located in Texas from a major wind developer

Power generation company — $469 million acquisition of a 90.1% interest in a 257 MW wind generation facility located in Texas from a major wind developer

Talen Energy Corporation — $1.175 billion acquisition of MACH Gen, LLC, the holding company of three natural gas-fired power plants located in New York, Massachusetts and Arizona with a total capacity of over 2,500 MW

Duke Energy Corporation — $2.8 billion sale of its Midwest merchant generation business to a subsidiary of Dynegy Inc., which includes ownership interests in 11 power plants with a total capacity of approximately 6,100 MW, as well as Duke’s competitive retail electric and gas business; Platts Global Energy Awards, 2015 Strategic Deal of the Year

Power generation company — acquisitions of a 174 MW wind generation project located in Texas and a 126 MW wind generation project located in Texas from a major wind developer

Basalt Infrastructure Partners — formation of Texas Microgrid, LLC, a joint venture with Enchanted Rock, Ltd. to construct distributed gas generation microgrids on customer sites in Texas

National Grid USA — contribution of its equity interests in Iroquois Gas Transmission System LP to Dominion Midstream Partners LP in exchange for approximately $225 million in public equity

Private equity fund — acquisition of 12 solar projects totaling 80 MW from a developer

Integrys Energy Group, Inc. — sale of a portfolio of over 50 distributed solar projects to TerraForm Power, LLC

Rochester Gas & Electric Corporation — negotiation with R.E. Ginna Nuclear Power Plant LLC, a subsidiary of Constellation Energy Nuclear Group LLC, of a Reliability Support Services Agreement for the continued operation for reliability purposes of a 581MW nuclear power plant located in Ontario, New York

Electric utility group — negotiation of multiple 20-year wind power purchase agreements to purchase power from wind projects totaling approximately 850 MW

Integrys Energy Group, Inc. — sale of its competitive retail electric and natural gas business, Integrys Energy Services, Inc., to Exelon Generation Company, LLC

Integrys Energy Group, Inc. — $298 million sale of Upper Peninsula Power Company, a regulated electric utility in the Upper Peninsula of Michigan, to Balfour Beatty Infrastructure Partners LP

Optim Energy LLC — all aspects of its electric generation business, including in connection with its Chapter 11 bankruptcy in the District of Delaware

JP Morgan — unwinding of a leveraged lease and related transfer of the Brandywine Power Facility, a 230MW combined-cycle, natural gas-fired generation facility located in Brandywine, Maryland

Electric utility group — negotiation of a joint venture to develop, own and operate transmission facilities in New York

Apex Compressed Air Energy Storage LLC — formation of a joint venture with Dresser Rand to develop a 317MW compressed air energy storage facility in Texas

Puget Sound Energy Inc. — acquisition of the Ferndale Cogeneration Station, an approximately 270 MW dual-fired combined-cycle cogeneration facility located in Whatcom County, Washington, from Tenaska Washington Partners LP

Duke Energy International — $415 million acquisition of CGED Group's Iberoamericana de Energía Ibener S.A. subsidiary in Chile, including two hydroelectric generating assets with a combined 140 megawatts of installed capacity

Great Plains Energy Inc. — formation of Transource Energy LLC, a joint venture with AEP Transmission Holding Company LLC focused on developing competitive transmission projects in the United States, and the contribution of rights to two regional transmission projects to the venture

Publications and Speeches

"Acquisition of Retail Electric Providers - Key Legal Considerations," Electric Light & Power, October 13, 2013.

Credentials

Education

New York University School of Law,
J.D.
2006
University of California, Los Angeles,
B.A.
2003

Bar Admissions

New York

News

News

Noteworthy