Junaid Chida

Partner

Junaid H. Chida is a partner in O’Melveny’s New York office  and a member of the Project Development and Real Estate Practice. He has led numerous transactions in the domestic and international markets (including through leveraged leases, partnerships and other structures) for a wide range of energy, infrastructure and transportation assets, including wind, solar, geothermal, biomass and other renewable energy projects; coal-fired, gas-fired, nuclear and hydroelectric projects; industrial projects; oil and gas projects; water and waste treatment facilities; and aircraft, ship, satellite, and other transportation systems and assets. Mr. Chida also has an active practice representing buyers and sellers of assets in the energy and transportation space as well as lenders financing the acquisition of such assets.

Mr. Chida has been recognized by IFLR 1000: The Guide to the World's Leading Financial Law Firms, as a leading lawyer in the field of project finance; Super Lawyers for New York-Metro; Chambers USA - America's Leading Lawyers for Business, as a leader in the field of projects; Legal 500, as a leader in asset finance and leasing, project finance (Lender) and project finance (Sponsor); and Chambers Global - The World's Leading Lawyers as a leader in the field of project finance.

Illustrative Professional Experience

Domestic Renewable and Clean Energy Transactions

Mr. Chida has represented clients in the vast majority of the renewable and clean energy power projects that have used tax-credit structures, leveraged leases or other structured vehicles. These transactions have included:

• The approximately $1.7 billion Alta II-V and Alta I wind power projects developed by Terra-Gen Power, which were the first leveraged lease financings of a wind power project. The projects utilized Treasury grants in lieu of ITCs
• The approximately $275 million Dixie Valley geothermal project developed by Terra-Gen Power. The project, which was financed through a leveraged lease, has an innovative expansion feature attached to it
• The approximately $250 million Armenia wind power project, which was the first leveraged renewable energy project to utilize Treasury grants in lieu of ITCs
• The approximately $325 million Peace Garden wind power project portfolio
• The $240 million Rail Splitter wind power project, one of the first power projects to use Treasury grants in lieu of ITCs as an integral part of the project's capital structure
• The $200 million Lost Lakes wind project, which also utilized Treasury grants in lieu of ITCs
• The acquisition and related project financing of a utility scale solar power project developed by Sunpower
• The financing by an affiliate of a major U.S. utility of several portfolios of solar power projects developed by Solar City
• The financing by an affiliate of a major utility of a portfolio of solar power projects developed by Sun Run
• The investments by a Canadian private equity fund in several U.S. clean tech companies
• The financing, on behalf of different clients, of several portfolios of solar power projects developed by Sun Edison
• The $1 billion Coso geothermal power project leveraged lease financing, the largest geothermal project financing completed to date
• The $1 billion Frontier Wind wind power project portfolio, which included the largest equity investment in a wind power project portfolio completed to date
• The acquisition by the affiliate of a major Japanese conglomerate of an interest in the Stanton wind power project
• The Nevada Solar One solar project, the largest solar project completed in the U.S. in 15 years
• The $869 million Aeolus I wind power project portfolio
• The $723 million Aelous II wind power project portfolio, which was one of the largest energy projects to utilize a PAYGO structure
• The approximately $1.3 billion Horizon wind power project portfolio
• The $510 million Cedar Creek project
• The Puna geothermal project in Hawaii
• The Burney Forest biomass project
• The Sweetwater I Wind Farm project, which was the first wind power transaction to be financed by institutional equity investors
• The Blue Canyon I wind power project
• The Combine Hills wind power project
• The Caprock wind power project
• The Sweetwater II and Sweetwater III wind power projects
• The Oasis wind power project
• The Buffalo Gap I and Buffalo Gap II wind power projects
• The Bear Creek and Atlantic City wind power projects
• The Sand Bluff wind power project
• The Locust Ridge wind power project
• The Camp Springs I and Camp Springs II wind power projects

Other Domestic Energy Transactions

Mr. Chida's experience in the domestic energy sector includes:

• The Bear Swamp transaction, which established the template for the so-called "genco" financings done in this sector
• The Calpine Geysers transaction, which established the template for a sponsor-supported pure merchant project financing done through a leveraged lease
• The Attala transaction, which established the template for a project financing done through a leveraged lease on the strength of a related party tolling contract
• The Southern Energy Mid-Atlantic genco transaction, which was the largest genco financing in the leveraged lease market
• The landmark $2.5 billion Homer City transaction, which is the largest project financing of a single-asset merchant project done to date and the first to be consummated through a leveraged lease
• The Calpine Peakers transaction, which utilized an innovative partnership structure together with Rule 144A financing to finance a power purchase agreement with the California Department of Water Resources
• The acquisition financing of the Arroyo gas-fired project in Colorado
• The Calpine Pasadena gas-fired power plant financing
• The proposed acquisition by a private equity group of a major gas-fired project in Arizona
• The PPL Montana coal-fired power project financing
• A major oil products pipeline expansion on behalf of one of the leading U.S. oil pipelines
• The lenders in the El Dorado merchant power project (the project, which sold power into the California power exchange, was located in Nevada and was the first successfully syndicated pure merchant power project financing consummated in the U.S.)

International Transactions

Mr. Chida is proficient in Portuguese and has participated in transactions in Latin America, Europe and Asia for over 20 years. His experience includes representing:

• The lenders in the Itajai Port project in Santa Catarina State, Brazil
• The lenders in the Jacui project, which was the first attempt at a pure non-recourse power project financing in Brazil
• The underwriters in the Marlim Oilfield project, an offshore oil field development in Brazil, which was the first Brazilian infrastructure project financing to be successfully consummated in the international capital markets. This financing established the template for subsequent similar projects completed in the Brazilian market by other international lenders
• The sponsor in the Santa Branca project, one of the largest independent power projects proposed to be developed in Brazil
• The sponsor in the proposed development of the Norte Fluminense project in Brazil
• A syndicate of international banks in the financing of a major expansion of the metro underground rail system in Santiago, Chile

Aircraft, Ships and Other Transactions

Mr. Chida has represented clients in transactions involving virtually every one of the world's major airlines as well as in complex ship and other vessel financings, rail financings and financings of satellites and transponders. Airlines and other companies in these transactions have included:

• American Airlines
• Amtrak
• Burlington Northern
• British Airways
• Continental Airlines
• Delta Airlines
• KLM Royal Dutch Airlines
• Korean Air Lines
• Lufthansa
• NBC
• Northwest Airlines
• PanAmSat
• Qantas
• United Airlines
• U.S. Lines

Professional Activities

Languages, Urdu, Hindi, Portuguese
Awards, Recognized by Legal500 in the area of Energy: renewable/alternative (2012)