Latham & Watkins Advises on Texas Energy Fund Financing of 452 MW Pecos Power Plant

Latham & Watkins LLP has advised Pecos Power Plant LLC, a project company jointly owned by affiliates of Mercuria Energy Group Limited and Continental Resources, Inc., on the closing of an approximately US$459 million term loan facility provided by the Public Utility Commission of Texas through the Texas Energy Fund. The financing will fund a portion of the costs to develop, construct, and operate the Pecos Power Plant, an approximately 452 MW natural gas-fired generating facility located in Reeves County, Texas.

The Latham team was led by New York partner Hamad Al-Hoshan, with associates Giancarlo Reanda, Alice Dales,* and Yian Wang. Advice was also provided on corporate matters by Houston partners James Garrett and Ashley Nguyen, with associate Logan McDowell;** on real estate matters by San Diego partner Robert Frances and counsel Aaron Friberg; on tax matters by Los Angeles counsel Kathryn Harrington and Houston partner Christine Mainguy; on federal energy regulatory matters by Washington, D.C. partner Natasha Gianvecchio; on ERISA matters by New York partner Austin Ozawa and Los Angeles counsel Aryeh Zuber; on environmental matters by Los Angeles/Houston partner Joshua Marnitz; on intellectual property matters by Washington, D.C. counsel Kieran Dickinson, with associate Brittany Grego; and on sanctions matters by Washington, D.C. counsel Ruchi Gill, with associate Amulya Vadapalli. The Latham team advising on all EPC and project development matters was led by Houston partner Jonathan Katz, with associate Fernando Langa.

*Admitted to practice in Australia only.
**Admitted to practice in Texas only.