Peter F. Fitzgerald

Partner

Practice Description

Representative Matters

• Representing the U.S. Department of Energy in connection with proposed guaranteed loans to (i) Georgia Power Company, Oglethorpe Power Corporation, and Municipal Electric Authority of Georgia for the financing of the 2,214 MW Vogtle nuclear power project in Georgia, and (ii) Calvert Cliffs 3 Nuclear Project, LLC for the financing of the 1600 MW Calvert Cliffs 3 Nuclear Power Project in Maryland, sponsored by UniStar Nuclear Energy, LLC a joint venture between Constellation Energy Group and EDF International, S.A.
• Represented the International Finance Corporation (IFC), the Asian Development Bank (ADB), the Export-Import Bank of Korea (KEXIM), the Korean Export Insurance Corp. (KEIC), a syndicate of Indian banks led by the State Bank of India, and a syndicate of commercial banks led by BNP Paribas in connection with the $4.25 billion project financing of the 4000 MW Mundra coal-fired power project in Gujarat, India, sponsored by Tata Power. This transaction was named "Deal of Year-Asia Pacific" 2008 by Project Finance International.
• Represented a consortium (including Sithe Global and the Aga Khan Fund for Economic Development) in connection with the development and financing of the 250 MW Bujagali hydroelectric power project in Uganda. This transaction was named "Africa Power Deal of the Year" 2007 by Project Finance magazine.
• Represented OPIC in connection with the $2 billion co-financing (with U.S. Export-Import Bank, Hermes, OND and a syndicate of banks led by ABN AMRO) of three build, own and operate (BOO) power projects in Turkey (the 1554 megawatt (MW) Gebze project, the 1523 MW Izmir project and the 777 MW Adapazari project) sponsored by InterGen and ENKA. This transaction was named "European Power and Global Deal of the Year” 2000 by Project Finance magazine and named a "Project Finance Deal of the Year” 2000 by Global Finance magazine.
• Represented Wartsila NSD Power Development Inc. in connection with (i) the development and IFC financing of the Khulna Power Co. project (an 80 MW barge-mounted power project) in Bangladesh, (ii) the development of the Ba Ria Vung Tau power project in Vietnam and financing arrangements with IFC, (iii) the development and financing of the 80 MW ELCOSA power project in Honduras financed by IFC, the Inter-American Development Bank (IDB) and Germany’s Deutsche Investitions und Entwicklungsgesellschaft mbH (DEG), and (iv) the development and financing of the Jamaica Energy Partners barge-mounted power project in Jamaica, financed by IFC.
• Represented IFC in connection with (i) a $250 million financing of the Hidroeléctrica La Higuera hydroelectric power project in Chile, sponsored by Pacific Hydro and SN Power, (ii) a financing for Jamaica Public Service Co., Ltd, and (iii) the co-financing with Export Development Corporation of Candada (EDC) of a $360 million merchant hydroelectric power project in Panama, sponsored by The AES Corporation.
• Represented OPIC in connection with (i) a co-financing with the U.S. Export-Import Bank (U.S. Ex-Im) of the gas-fired Araucaria power project in Brazil, sponsored by El Paso Corp., COPEL and Petrobras, and (ii) the financing of the Eletrobolt gas-fired power project in Brazil.
• Represented MidAmerican Energy Holdings Company (formerly CalEnergy Company, Inc.) in connection with its expropriation claims under political risk insurance policies issued by OPIC and Lloyd’s and its related foreign investment dispute with the Government of Indonesia. The political risk insurance claims resulted in a full recovery of $290 million, the largest political risk insurance claim ever paid.
• Represented Sovereign Risk Insurance Ltd. in connection with political risk insurance contracts covering capital market issuances by companies in emerging markets, including (i) the $250 million note issuance by the Salta Hydrocarbon Royalty Trust (securitization of oil royalties payable under an Argentine concession contract), (ii) note issuances by Brazilian and Philippine issuers, and (iii) mortgage securitizations in Argentina and Costa Rica.
• Represented Union Carbide Corporation on political risk and project financing matters in connection with the development and financing of the Equate petrochemical project in Kuwait.
• Represented U.S. Ex-Im in connection with the financing of telecom projects in Brazil and Nigeria.
• While at OPIC, structured, negotiated and documented project financings in Latin America, Africa, Asia, and Central and Eastern Europe, including financings of oil field development projects, mining projects, power projects, and projects in the telecommunications, agricultural, manufacturing and hotel industries.

Honors

In 2010, Mr. Fitzgerald was ranked in Band 1 for Projects nationwide in Chambers USA (2010), and in Band 1 for India/Overseas Counsel: Projects in Chambers Asia (2010). He was also named as one of the top 25 project finance lawyers in the world in Euromoney's The Best of the Best 2011: Expert Guide to the World’s Leading Lawyers.

Mr. Fitzgerald has also been listed as a leading project finance lawyer in Chambers Global – The World’s Leading Lawyers (2002-2006, 2011), Chambers USA – America’s Leading Business Lawyers (2003-2006, 2009-2010), Euromoney’s Guide to the World’s Leading Project Finance Lawyers (2002-2005), the International Who’s Who of Project Finance Lawyers(2003-2006, 2009), and the International Who’s Who of Business Lawyers (2004-2008).

Activities and Affiliations

Publications

Speeches and Events

Mr. Fitzgerald is a frequent lecturer on project finance and political risk insurance matters. He has chaired the Practicing Law Institute’s annual conference, “Project Financing: Building Infrastructure Projects in Developing Markets,” from 1995 to 2004 and co-chaired the IBC’s Moscow conference, “Restructuring and Financing the Russian Electricity Industry,” in May 1998. Presentations include: