Gibbons Attorneys Celebrate Developments in Major Energy Project in Ireland
November 2, 2015
A team of attorneys from Gibbons P.C. represented Weichert Enterprise LLC, a New Jersey-based private investment company, and its affiliate, Mayo Renewable Power, in an investment transaction in Ireland hailed by the country’s prime minister, Enda Kenny, as a “vote of confidence in the Irish economy,” and a key development in helping Ireland meet its renewable power goals.
Gibbons represented Weichert and Mayo in the financing and development of a 41-megawatt (MW) biomass fueled combined heat and power facility at Killala, in County Mayo, Ireland, which will be the largest renewable power plant in that country. The Gibbons team was led by Frank B. Reilly, Jr., who began working on the project in 2006. Robert J. MacPherson, Lawrence A. Goldman, and Peter J. Ulrich were key members of the project team representing the companies on complex issues pertaining to cross-border tax planning, ownership structure and equity financing, negotiation of construction and other project agreements, and negotiation of the project finance documents. The debt financing of approximately €110 million was provided by a consortium of three banks: Ulster Bank Ireland Limited, Allied Irish Bank p.l.c., and Barclays Bank p.l.c.