A cross-practice Orrick team advised EIF Renewable Energy Holdings in the acquisition of Innovative Energy Systems, a privately-held company that owns and operates a portfolio of 11 landfill gas-to-energy projects in New York and Vermont.  The projects generate 72 megawatts of renewable energy, enough to meet the needs of over 42,000 homes. 

With this acquisition, EIF Renewable now holds the rights to 45 landfill energy projects in 16 states, producing over 200 megawatts of base load renewable energy along with high and medium Btu gas.  These projects reduce carbon dioxide emissions by over 9 million tons per year, which is equivalent to taking more than 1.7 million cars off the road.

EIF Renewable is controlled by Energy Investors Funds, one of the premier private equity funds in energy.  The fund has made over 100 diversified investments with an underlying asset value exceeding $15 billion.  This is the fourth major acquisition in the landfill gas-to-energy space by Energy Investors Funds, and makes EIF Renewable one of the largest landfill gas-to-energy companies in the United States. 

A large Orrick team, led by San Francisco global finance partner Mark Weitzel and San Francisco global finance managing associate Kristine Kaneko, worked to bring this transaction to a successful close. The team included attorneys from throughout the firm’s global energy practice and included M&A, energy, regulatory, environmental, tax, real estate, employee benefits and antitrust specialists.