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About Paul

Paul McBride’s practice focuses on power, environmental products and related transactions, with a particular emphasis on development and operational matters associated with renewable energy projects. He regularly represents clients, including project developers, hedge providers and purchasers, in connection with the negotiation, structuring and analysis of physical and financially settled offtake agreements, energy management agreements and scheduling coordinator service agreements, and in the analysis and application of ISO/RTO market rules to project operations. In addition, Paul has experience negotiating, structuring and analyzing key project documents, including EPC and BOP agreements, turbine supply agreements, long-term service agreements and O&M agreements, for both renewable and conventional generating facilities. Paul also regularly represents clients in a variety of commodity trading matters, and has experience negotiating trading facilities and structured transactions, and in advising market participants on OTC derivatives regulations, ISO/RTO specific products and other requirements applicable to commodity trading and marketing activities.

In addition to his experience with Bracewell, Paul worked as in-house counsel at EDF Trading North America, where he provided key legal support for all aspects the company’s wholesale and retail energy market activities and its related asset management business, as well as for the operations of the generating facility owned by its affiliate, Tanner Street Generation. While at EDF, Paul routinely served as the sole legal representative on cross-functional teams responsible for various business and regulatory matters, and in this capacity, was directly involved in the commercial structuring and decision making process. Ultimately, Paul’s support of the company’s activities provided him with valuable firsthand exposure to the business aspects of energy transactions and related markets, which gave him a special appreciation for the needs of the clients he represents. This experience enables Paul to provide clients with legal advice grounded in a commercial understanding of their business and related requirements.

Prior to attending law school, Paul served six years as an active duty Army officer. While on active duty, he served with units located in the United States and Europe and completed a one-year deployment to Afghanistan as a paratrooper with the 173d Airborne Brigade Combat Team.

Experience

Recent Notable Matters

EverPower — power purchase agreement with a leading online retailer with respect to a 189 MW wind farm to be constructed by EverPower in Ohio

Project developer — negotiation of a long-term power purchase agreement with Austin Energy related to a 119 MW solar facility under development in West Texas

NRG Energy, Inc. — negotiation of a power purchase agreement with Dow Pipeline Company related to the 150 MW Goat Mountain Wind Ranch

Private fund — negotiation of EPC and battery supply agreements associated with the development of a 2 MW battery energy storage system

Great Plains Energy Inc. — negotiation of deal-contingent interest rate swap transactions having a total notional value of over $4.4 billion entered into in connection with its pending acquisition of Westar Energy, Inc.

Power generating company — analysis of multiple long-term traditional and synthetic power purchase agreements, market rules, and related matters in connection with the acquisition of four wind generating facilities under development in ERCOT and SPP

EDF Trading North America — structuring and negotiation of a sleeved retail power supply facility serving two aluminum smelting facilities with an aggregate load of approximately 1,000 MW

Multiple power marketers — complex arrangements with retail electric and gas companies across the country to act as the sole source of wholesale power and gas supply and to provide liquidity through associated working capital facilities

Multiple energy managers and project owners — negotiation, implementation and ongoing maintenance of energy management and scheduling coordinator agreements for renewable and gas-fired generating facilities located in bilateral and organized power markets (including ERCOT, PJM, MISO, SPP, and CAISO), with an aggregate capacity in excess of 8,000 MW

Financial services firm — review and analysis of multiple long-term service agreements for gas-fired generating facilities in connection with a proposed receivables financing facility

Tanner Street Generation — various operational matters related to its 85 MW dual-fueled combined cycle generating facility, including the replacement of its O&M services provider and the negotiation of the replacement O&M agreement

Ruby Pipeline, LLC — $1.075 billion senior notes offering and $350 million term loan facility used to refinance its $1.65 billion construction financing

Financial institution — negotiation and structuring of a $100 million secured grain repurchase facility entered into in connection with the extension of working capital facility to a midstream grain company

Financial institution — negotiation and structuring of a canola and crushed products purchase and sale (tolling) agreement entered into to support the extension of revolving and term loan credit facilities to a canola processing company

Multiple financial institutions and energy companies — negotiation of lien-based and margined physical and financial commodity trading enabling agreements, including ISDAs, EEIs, NAESBs, and bespoke master agreements for environmental products

Multiple power marketers and project developers — negotiation and documentation of physical and financially settled structured transactions, including heat rate transactions, MISO and PJM capacity and auction revenue rights transactions, CAISO resource adequacy transactions, and weather derivatives

Multiple power marketers and project developers — negotiation and structuring of various environmental products transactions, including California/Quebec carbon allowance and carbon offset transactions, RGGI allowance transactions, unbundled REC transactions across all actively traded REC markets, and bundled energy and REC transactions under the California renewable portfolio standard

NRG Energy, Inc. — start-up and ongoing development, operation and expansion of its nationwide EVgo electric vehicle charging services business

Publications and Speeches

“A Roundtable Discussion on Dodd-Frank Energy Contract Provisions (Potential Pitfalls and Issues to Consider),” International Energy Credit Association, July 2014.

“Swaps, Forwards & Options: Is There a Meeting of the Minds,” Edison Electric Institute, CFTC Dodd-Frank Compliance Forum, October 2013.

“IECA Webinar: Amendment Adopting, Incorporating and Amending the ISDA March 2013 DF Supplement,” International Energy Credit Association, March 2013.

Credentials

Education

Southern Methodist University Dedman School of Law,
J.D.
2010
magna cum laude
University of Maryland University College,
M.S.
2005
Environmental Management
U.S. Military Academy at West Point,
B.S.
2001
Environmental Engineering

Bar Admissions

New York
Texas

Affiliations

International Energy Credit Association
Committee Member
Energy Bar Association
U.S. Army Medical Service Corps

News

Noteworthy

Noteworthy

Southern Methodist University
Hatton W. Sumners Scholar
Southern Methodist University
Southern Methodist University or the Dedman School of Law
SMU Law Review Association
Symposium Editor
Delaware Association of Professional Engineers
Engineer Intern