News

Chadbourne represented Canada-based Transmission Developers Inc. in a private equity/DOE debt financing with The Blackstone Group L.P.

March 5, 2010

On January 25, 2010, New York City-based The Blackstone Group L.P. through an affiliated entity invested in TDI-USA Holdings Corp. ("TDI USA"), a wholly-owned subsidiary of Toronto-based Transmission Developers Inc. ("TDI"), for the purpose of developing the assets of three transmission projects in the United States. Principal attorneys working on the private equity transaction were Jonathan Melmed (Corporate Partner), Jeffrey Patten (Corporate Associate), Patrick Narvaez (Corporate Associate), William Cavanagh (Tax Partner), Eli Katz (Tax Partner), Benjamin Roth (Tax Associate) and Marjorie Glover (Benefits Partner). All are based in New York. Working on the Department of Energy’s Loan Guarantee Program application was Ken Hansen (Project Finance Partner) who is based in Chadbourne's Washington, D.C. office.

TDI is an independent power transmission provider for the North American market utilizing High Voltage direct current ("HVdc") technology. TDI's long term goal is to develop unique transmission projects that relieve highly congested areas in an environmentally responsible manner. Using proven HVdc cable technology, TDI will link trapped generation such as wind and other renewables with markets that are experiencing acute power shortages. By using HVdc, TDI also avoids the visual impact of overhead transmission projects by installing the projects substantially out of sight either under water or underground.