Paul M. McBride

Paul’s experience includes the following representative matters:

Commodity and Hedging Matters

• United Airlines in connection with multiple sustainable aviation fuel matters, including:
  • The negotiation of its SAF supply agreement with Alder Fuels, the largest publicly announced sustainable aviation fuel agreement in aviation history; 
  • Agreements related to the world’s first passenger flight conducted using 100% SAF in one of the aircraft’s engines; and
  • Program agreements for the transfer of Scope 3 emissions reductions claims to passenger and cargo customers.
• Project developer in the structuring and negotiation of power purchase agreements with a leading power marketer and a behind-the-meter data center for a 90 MW solar project located in Texas.
• NRG Energy in agreements to procure over 1.3 GW of renewable energy from solar and wind power projects in Texas.
• Project developer in connection with multiple physical and financially settled power purchase agreements for solar and wind projects under development in Texas, PJM, and MISO.
• Battery storage developer in connection with the negotiation of hedge transactions to support the financing of a portfolio of stand-alone battery storage projects located in Texas.
• Sustainability-focused personal finance company in connection with multiple carbon offset purchase and sale transactions.
• Infrastructure fund in a long-term secured hedge arrangement and virtual power purchase agreement to enable the debt and tax equity financing of a 130 MW solar project located in Texas.
• Leading hedge providers in long-term secured hedges to enable the debt and tax equity financing of various wind power generating projects, including the 160 MW Rattlesnake wind farm located in Texas and the 200 MW Persimmon Creek wind farm located in Oklahoma.
• Project developer in a proxy generation power purchase agreement with a leading technology company in connection with the repowering of a large wind power generating facility.
• Recurrent Energy in the negotiation of a solar power purchase agreement with a leading power marketer for a 200 MW solar project in Texas.
• Developer in a virtual power purchase agreement with a major health systems company for a solar power generating facility being developed in Virginia.
• Unregulated subsidiary of a large public utility in a solar power purchase agreement with a major technology company in connection with its proposed acquisition of an 80 MW solar power generating facility being developed in Virginia.
• Project developer in a long-term power purchase agreement with Austin Energy for a 119 MW solar power generating facility in Texas.
• Unregulated subsidiary of a one of the country’s largest public utility companies in the review and analysis of various traditional and virtual power purchase agreements and the negotiation of energy management agreements in connection with its acquisition of multiple wind and solar power generating facilities located in the Southwestern United States.
• Calpine Energy Solutions (fka Noble Americas Energy Solutions) in multiple secured exclusive wholesale commodity supply and revolving credit facilities to various start-up retail gas and electric companies located across the United States.
• Financial institution in 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 power marketers and project owners in the negotiation and structuring of various environmental products transactions, including California/Quebec carbon allowance transactions, RGGI allowance transactions, bundled energy and REC transactions under the California renewable portfolio standard, and unbundled REC transactions across all actively traded domestic REC markets.
• Multiple power marketers and project owners in physically and financially settled structured power and gas transactions, including heat rate call options and revenue put transactions, gas transportation asset management arrangements, MISO and PJM capacity transactions, California resource adequacy transactions, and weather derivatives.

Development and Finance

• Telecommunications company in connection with the development and construction of a branch line connecting two major subsea fiber optic cable systems.
• AP Energy Holdings and South Field Energy in the approximately US$1.3 billion project financing transaction for the construction and ongoing operation of the South Field Energy Project, a 1,182 MW combined-cycle natural gas electricity generating facility located near Wellsville, Ohio.
• Lenders in connection with the construction loan and post-construction senior secured letter of credit facility for the 200 MW Canadian Breaks wind power generation facility located in Texas.
• Private equity firm in the approximately US$360 million refinancing of a project loan and modification of related gas supply and hedging arrangements for a 125 MW cogeneration facility located in Michigan.
• Great Plains Energy in the negotiation of deal-contingent interest rate swap transactions having a total notional value of over US$4.4 billion entered into in connection with its acquisition of Westar Energy.
• Private fund in EPC and battery supply agreements associated with the development of a battery energy storage system for a municipal utility in California.
• Financial institution in a US$100 million secured grain repurchase facility entered into in connection with the extension of a working capital facility to a midstream grain company.

Project Operations

• Infrastructure fund in connection with the negotiation of agreements for the long-term operation and management of the campus utility system of a technology-focused university located in Illinois.
• Sponsor in the negotiation of project documents, including turnkey EPC agreement, O&M agreement, and energy management agreement, related to the development and financing of an approximately 300 MW solar generating facility under development near Houston, Texas.
• Various energy managers and project owners in the structuring, negotiation, and implementation of energy management and scheduling coordinator service agreements for renewable and thermal generating facilities located in bilateral and organized power markets (including ERCOT, PJM, MISO, SPP, and CAISO) and with an aggregate capacity in excess of 9,000 MW.
• Financial services company in the review and analysis of multiple long-term service agreements for gas-fired generating facilities in connection with a proposed receivables financing facility.
• Project owner in the renegotiation of a long-term service agreement for a combined-cycle natural gas electricity generating facility located in Texas.
• Tanner Street Generation in various operational matters related to its 85 MW dual-fuel combined-cycle generating facility, including replacement of its O&M services provider and negotiation of the new O&M agreement.

*Some of the above matters were handled prior to joining Sidley.