Two Major Financial Institutions

O’Melveny represented two major financial institutions in connection with their commitment to acquire preferred equity interests in the US$273 million Fowler Ridge 4 wind power project being developed by Pattern Energy Group in Benton and Tippecanoe Counties, Indiana. The project, which is expected to be eligible for production tax credits, will sell its electric energy output through an innovative arrangement with an affiliate of, and expects to generate a significant portion of its expected cash flow from an arbitrage of renewable energy credits.