White & Case Advises Masdar on its Acquisition of 50 Percent Stake in Terra-Gen From Energy Capital Partners

Global law firm White & Case LLP advised Abu Dhabi Future Energy Company PJSC – Masdar, the United Arab Emirates' clean energy powerhouse, in connection with a definitive agreement to acquire a 50 percent stake in Terra-Gen Power Holdings II, LLC (Terra-Gen), one of the largest independent renewable energy power producers in the US, from Energy Capital Partners (ECP). Established in 2007, Terra-Gen is a leading US developer, owner and operator of utility-scale renewable energy projects in North America, and Terra-Gen currently operates approximately 2.4 GWs of wind and solar and 5.1 GWh of energy storage facilities across 32 renewable power sites throughout the US, predominantly in California and Texas.

ECP will fully exit its position in Terra-Gen in connection with the transaction. Igneo Infrastructure Partners, a global infrastructure investment manager, will retain its existing 50 percent stake in the company.

Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala) and Abu Dhabi National Energy Company (TAQA). Energy Capital Partners is a leading investor across energy transition, electrification and decarbonization infrastructure assets.

The White & Case team was led by partners Raymond Azar, Ipek Candan Snyder, Scott Fryman, Raffaele Montenero Turco, Steven Lutt (all in New York); Rebecca Farrington, Heather Greenfield and Jeffrey Davis (all in Washington, DC); Taylor Pullins (Houston); counsel Samantha Rozell (Chicago); associates Luisa Muskus and Sam McCombs (both in Houston); Tyrone Crawford and John Forbush (both in Washington, DC); international law clerk Adam Conwell and Latin America fellow Maria Pinto (both in New York).

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