Milbank LLP represented the lenders in connection with the financing of the Trumbull Energy Center, a 950MW natural gas-fired combined cycle facility in Trumbull County, Ohio. The Trumbull Energy Center is a second of its kind natural gas-fired power plant in Trumbull County and was developed by Massachusetts-based developer, Clean Energy Future with sponsors Korea Southern Power Co., Ltd. (KOSPO), Korean Overseas Infrastructure & Urban Development Corp. and Siemens Energy, Inc.
The Milbank team was led by Global Project, Energy and Infrastructure Finance partner Dan Michalchuk and special counsel Jeeseon Ahn and with support from associates Marie Matousek and Shannon Mis-Marzano as well as Alternative Investments special counsel Elizabeth Martinez and associate Devan Zorn.
Mr. Michalchuk added, “We are pleased to have supported the lenders and worked with the sponsors in this financing. The success of this transaction illustrates that properly structured gas-fired power assets can be developed and financed and that they remain an important part of a diverse power generation base in PJM.”
Milbank has one of the largest project, energy and infrastructure groups in the world with over 125 dedicated lawyers in its offices in the Americas, Europe and Asia. In the past five years, the firm has acted as the lead legal advisor in a wide variety of power, energy, oil/gas, natural resources, transportation and other infrastructure projects worldwide that mobilized hundreds of billions of dollars of capital. This past year, Milbank was named the “Global Legal Advisor of the Year” by IJGlobal.
