"[A]n exceptional lawyer who brings thoughtful and practical guidance, hard work, responsiveness and creative thinking to the table."
The Legal 500 U.S. 2015
Michael Didriksen is the New York Global Projects Department Chair and Co-Head of New York Transactional Group. Coupling legal ingenuity with business acumen, Michael Didriksen is who clients call when they need to forge new ground. His skill set is why energy clients trust him to structure some the most cutting-edge transactions of the last decade.
A deal lawyer with more than twenty years of experience handling complex M&A and project development, his experience includes all forms of renewable power, conventional power, storage (battery and pumped hydro) and transmission (including large scale HVDC merchant transmission), as well as the alternative and renewable fuels space (RNG, SAF and LFG).
He recently structured a first-of-its-kind agreement for AES to provide around the clock carbon free energy to Google data centers in Virginia, including hourly performance targets for the carbon content of such energy, a key step in assisting Google's previously announced goal of running its business on 100% carbon free energy on an hourly basis by 2030.
Related Experience
Project Development & Related Matters
- Transmission Developers, Inc., a Blackstone portfolio company, in the structuring of the long-term sale of the capacity on the Champlain Hudson Power Express, a 1,250 MW HVDC underground and under water transmission line from Quebec to New York City
- A global independent power producer, in the negotiation of numerous long-term Power Purchase Agreements for the off-take from renewable projects, including off-take agreements for:
- a portfolio of solar projects in PJM totaling approximately 110 MWAC;
- an approximately 112 MWAC wind project in PJM;
- an approximately 20 MWAC hydroelectric project in PJM.
- Gevo, Inc., in connection with the negotiation of numerous fuel supply agreements for the sale of renewable jet fuel and renewable isooctane, including with Delta Airlines, British Airways, Scandinavian Airlines, Trafigura Trading, Total, S.A., Kolmar and Haltermann Carless
- Puget Sound Energy, in connection with the negotiation of a long-term Power Purchase Agreements for the off-take from various renewable power projects, including the off-take from:
- an approximately 350 MW wind power project in the United States;
- an approximately 200 MW wind power project in the United States;
- an approximately 150 MW solar power project in the United States; and
- an approximately 130 MW wind power project in the United States.
- Puget Sound Energy, Inc., in the negotiation of a long-term Service and Maintenance Agreement for its fleet of Siemens wind turbines located at the Lower Snake River Project, an approximately 343 MW wind powered electric generating facility in Columbia and Garfield Counties, Washington
- Transmission Developers, Inc. (a Blackstone Portfolio Company), in connection with the proposed development and commercialization of the New England Clean Power Link, a proposed $1.2 billion 1,000 MW HVDC transmission line between Quebec, Canada and ISO-NE
- Puget Sound Energy, Inc., in the development of a new, state-of-the-art LNG production and storage facility at the Port of Tacoma, Washington, including the negotiation of a long-term LNG fuel supply agreement to supply LNG to fuel cargo ships owned by Totem Ocean Trailer Express, which operates cargo service between the Port of Tacoma and Alaska
- Puget Sound Energy, Inc., in the development and construction of the Lower Snake River Project, an approximately 343 MW wind powered electric generating facility constructed in Columbia and Garfield Counties, Washington, including the largest purchase of Siemens wind turbines to date for onshore delivery to the U.S. market
- Puget Sound Energy, Inc., in the re-development of the Snoqualmie Falls Hydroelectric Project, an historic run-of-river hydroelectric generating plant (the world’s first completely underground generating facility) originally commissioned in 1898
- General Electric, in connection with the Linden VFT merchant transmission facility, the first auction of merchant transmission capacity in the United States, which provides 300 MW of new transmission capacity into New York City
Mergers & Acquisitions
- Representation of AES Clean Energy in connection with the sale of a 49% stake in a 1.3 GW portfolio 17 renewable energy projects to Hannon Armstrong
- Representation of CIM Group in connection with the acquisition of renewable natural gas development platform of MAS CanAm
- Idaho Power Corporation in its acquisition via a build transfer agreement of a 120 MW X 480 MWh battery storage project from Duke Energy Renewables
- Representation of The AES Corporation in the structuring of a 10-year strategic alliance with Google to accelerate the growth and adoption of clean energy
- Representation of The AES Corporation in the formation of Fluence Energy, a global joint venture for battery-based energy storage technology between AES and Siemens
- A global independent power producer in the acquisition or sale of various renewable energy projects in the United Stated, including:
- a 70 MWAC solar photovoltaic (PV) project in Pennsylvania;
- a 150 MWAC solar photovoltaic (PV) project in Pennsylvania;
- 80 MWAC solar photovoltaic (PV) project in Pennsylvania;
- a 367 MWAC solar photovoltaic (PV) project in Texas;
- a 20 MWAC solar project in Puerto Rico; and
- a 50% interest in a portfolio of solar photovoltaic (PV) projects in Italy to SunEdison, Inc.
- German utility in its investment into a renewable energy project development platform in the United States
- German utility in its investment into a small-scale LNG development platform in the United States
- The AES Corporation in the divestiture of its 50% interest in Silver Ridge Power, a solar generation company with operations in the United States, Europe and India
- Consumers Energy, in its sale of the 798 MW Palisades Nuclear Power Plant to a subsidiary of Entergy Corporation, including the negotiation of a long-term power purchase agreement to purchase the output thereof following the sale
- Alliant Energy, in the sale of its interest in the 600 MW Duane Arnold Energy Center to Florida Power & Light, including the negotiation of a long-term power purchase agreement to purchase the output thereof following the sale
Awards & Community
Recognized in Chambers USA, 2019, 2020, 2021, 2022 & 2023
Recommended in The Legal 500 U.S. 2013, 2015, 2019, 2020, 2021, 2022 & 2023
News
Baker Botts Earns a Number of Recognitions in The Legal 500 US
Baker Botts Advises CIM Group on the Acquisition of MAS CanAm's RNG Development Platform
Baker Botts Furthers Its Accolades Across the Energy Sector
Baker Botts Increases Practice Rankings in The Legal 500 U.S.
Energy Group Of The Year: Baker Botts
Law360Law360
Baker Botts Continues to Soar in Power and Renewables Rankings
Baker Botts’ Transactional Practices Shine in Legal 500 and Chambers USA Rankings
Baker Botts Expands Top Rankings Across Entire Spectrum of the Energy Sector
Baker Botts Continues Ascent Up Legal 500 US Rankings
Baker Botts Earns High Marks Across Energy Spectrum in Legal 500 US 2020
Chambers Awards 16 Band-1 Rankings to Baker Botts Global Projects Department
Thought Leadership
Section 45V Clean Hydrogen Production Tax Credit - IRS Releases Proposed Regulations
Client UpdatesSection 40B Guidance: A Flexible Sustainable Aviation Fuel Tax Credit or an Exclusionary Standard?
Client UpdatesEnergy Transition Update
Treasury and IRS Request Comments on Issues for Guidance Under Clean Energy Provisions of Inflation Reduction Act
Client UpdatesTax Update
Senate Passes Inflation Reduction Act of 2022
Client UpdatesTax Update
Schumer and Manchin Release Inflation Reduction Act of 2022 - Clean Energy Tax Proposal
Client UpdatesTax Update
2021: Solar Volatility and Batteries to the Moon
Client UpdatesEnergy Update
2021 - Traditional Energy Rebounds and Increased Energy Transition
Client UpdatesEnergy Update
Senate Finance Committee Updates to the Build Back Better Act - Green Energy Tax Perspective
Client UpdatesTax Update
House-Passed Build Back Better Act - Green Energy Tax Perspective
Client UpdatesTax Update
Trends in U.S. Corporate PPAs
Client UpdatesNotice 2021-41: IRS Extends Continuity Safe Harbor for Renewable Energy Projects
Client UpdatesTax Update
Clean Energy Tax Credit Proposals Detailed in Treasury’s “Greenbook”
Client UpdatesTax Update
2020 Year In Review and Energy Outlook: Disruption and Transition for the Energy Industry
Client UpdatesEnergy Update
Trends in Corporate PPAs
Client UpdatesEnergy Update
Clean Energy Tax Proposals in Biden's "American Jobs Plan"
Client UpdatesTax Update
Proposed Stimulus Bill Would Extend Renewable and Clean Energy Tax Credits
Client UpdatesTax Update
House Passes GREEN Act: Extends Renewable Energy Tax Incentives, Adds Direct Pay Option and MLP Eligibility
Client UpdatesClient Update
Moving Forward Act
VideoIRS Provides Relief from Construction Deadlines Related to Renewable Energy Tax Credits
Client UpdatesTax Update
2019 - A Year of Change for Worldwide Energy
Client UpdatesEnergy Update
Events
Upcoming
Recent
Sustainable Aviation Futures North America Congress
EEI Spring Legal Conference
Platts Global Power Markets Conference
Infocast Solar + Wind Finance & Investment Summit
New York Energy Dialogues
Platts Annual Global Power Markets Conference
Infocast Solar + Wind Finance & Investment Summit
M&A for Renewable Power Projects Infocast Virtual Master Class
Please join Baker Botts in the Infocast-hosted Virtual Master Class on M&A for Renewable Power Projects on October 21-22, 2021 at 8:45 a.m. - 3:00 p.m. PT.
20th Annual Platts Caribbean Energy Conference
Baker Botts is proud to be an Executive Sponsor at the 20th Annual Platts Caribbean Energy Conference January 29 - 31 in Rio Grande, Puerto Rico.
2020 San Francisco Energy Dialogues
Baker Botts is proud to be the exclusive Legal Partner for the San Francisco Energy Dialogues on January 21 in Stanford, California.