Latham & Watkins Advises Lenders in Equinor’s Empire Wind 1 Project

Latham & Watkins LLP represented a group of international and US-based banks, who agreed to a project financing package of over US$3 billion to finance the Empire Wind offshore windfarm, the second major offshore windfarm to achieve financial close in the United States.

The project is being developed by Equinor and represents one of the largest investments in a single renewable energy project in the United States. The first power from the 810 MW project is projected to be delivered to the grid in 2027 and is expected to generate electricity for more than 500,000 homes in New York.

The Latham team was led by New York partners Kelly Cataldo, Matthew Henegar, and Warren Lilien. The financing team included assistance from associates Jiyeon Chun, Annabelle Davis,* Victoria Gross, and Andrea Garcia Martinez. Washington, D.C. partner Janice Schneider and Los Angeles/Houston partner Josh Marnitz led the siting and permitting team, with assistance from associates Brian McCall and John Detrich. San Diego counsel Sosi Biricik Klijian led the project diligence and commercial contracts team. New York partner Eli Katz led on tax matters with associate Michael Syku. New York counsel Lisa Brabant advised on real estate matters. New York partner Yvette D. Valdez with associate Tiiu Lemsalu advised on interest rate derivative matters.

*Admitted to practice in Victoria, Australia.