Associate

Karl R. Pielmeier III

Energy

kpielmeier@sidley.com

New York +1 212 839 7368

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KARL PIELMEIER (KP) focuses his practice on project development, financing, mergers and acquisitions, private equity investment, offtake, battery storage, and other transactions within the energy and infrastructure space.

KP represents private equity investors, sponsors, developers, lenders, and other financing parties on domestic and cross-border deals. He has experience on matters involving solar, wind, hydroelectric, biomass, natural gas, battery and storage, transportation, and other types of projects.

Experience

Invenergy Renewables in a consortium with Caisse de dépôt et placement du Québec (CDPQ) and funds managed by Blackstone Infrastructure Partners to acquire a 1,365-megawatt unregulated, contracted renewables portfolio from American Electric Power (Nasdaq: AEP) for US$1.5 billion. In connection with the acquisition, Invenergy secured a US$580 million commitment for a first-of-its-kind production tax credit (PTC) transfer making this deal the first announced largescale transferability transaction to close since the passing of the Inflation Reduction Act.
Invenergy, the largest private renewable energy company in North America, in a definitive agreement with Blackstone Infrastructure Partners (BIP) and Caisse de dépôt et placement du Québec (CDPQ) for an approximately US$3 billion equity investment and US$1 billion follow-on equity investment in Invenergy Renewables Holdings LLC, by funds managed by BIP. The deal was awarded “Americas Acquisition of the Year” at the 2022 IJInvestor Awards.
Distributed Solar Development, LLC (“DSD”) in a US$155 million private notes offering that securitized a portfolio of commercial and industrial (“C&I”) and community distributed generation (CDG) assets. The first-of-its-kind transaction was named GlobalCapital’s 2023 “ESG Securitization Deal of the Year.”
Harrison Street in the formation of a US$250 million joint venture with Soltage LLC to fund 450 MW of distributed solar and energy storage projects across the United States.
Brookfield Renewable, one of the largest publicly traded, pure-play renewable power platforms worldwide, in its purchase of greenfield solar and battery storage project developer Urban Grid.
NRG Energy in its agreement to supply the City of Houston with 100% renewable electricity, pursuant to which Houston will receive over 1 million MWh of renewable electricity annually, including from a new, third-party utility-scale solar facility in Texas that is dedicated to City operations.
Morgan Stanley Capital Group Inc. in a variety of long-term, full-requirements power purchase agreements and hedging transactions to serve municipal and cooperative customers in the Southeast and other U.S. locations.

Karl R. Pielmeier III

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