The grant is another milestone in the development of Windy Point/Windy Flats over the past six years. To date, Cannon’s total investment in the projects exceeds $1 billion.
The ARRA grant will go towards the purchase of wind turbines to be used for wind power generation and other project costs. This will also enable the expansion of the wind power project from 400 to 500 megawatts (MW). Cannon previously closed a $178 million financing deal with Siemens Financial Services, Inc. in October 2009 for a 60 MW expansion of the project. Cannon, a leading wind farm developer, currently has over 3000 MW under development in western North America and Europe.
Cannon was represented by Hunton & Williams attorneys Thomas B. Trimble, David S. Lowman, Jr., Jeremy R. Schwer, John D. Bryant, and Timothy L. Jacobs. Trimble and his team worked alongside Cannon Power General Counsel Michael Toke throughout the grant process.
The Hunton & Williams renewable energy team consists of dedicated, internationally qualified lawyers with experience in such key areas as project finance, international banking, energy and natural resources regulation. The practice group has acted on several wind farm projects in the United States, United Kingdom, Sweden and Greece. It previously represented Cannon Power in securing the $178 million financing deal for Windy Point/Windy Flats wind projects with Siemens Financial Services, Inc.
Gamesa will supply wind turbines to all wind farms that Cannon Power Group develops in the Mexican state of Baja California and will also provide development support through its wind farm division.
Gamesa and Developer Cannon Power have agreed to a 10-year exclusivity agreement, stipulating that Gamesa will supply all of the wind turbines installed at wind farm sites developed by Cannon in the Mexico’s Baja California.
Hunton & Williams LLP provides legal services to corporations, financial institutions, governments, and individuals, as well as to a broad array of other entities. Since our establishment more than a century ago, Hunton & Williams has grown to more than 900 lawyers serving clients in 100 countries from 18 offices around the world.
While our practice has a strong industry focus on energy, financial services, and life sciences, the depth and breadth of our experience extends to more than 100 separate practice areas, including bankruptcy and creditors rights, commercial litigation, corporate transactions and securities law, intellectual property, international and government relations, regulatory law, products liability, and privacy and information management.