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ATLANTA (November 30, 2012) – Sutherland Asbill & Brennan LLP advised Wolverine Power Supply Cooperative, Inc. in the negotiation of definitive agreements with We Energies to acquire an interest in the Presque Isle Power Plant in Marquette, Michigan. The two companies have signed agreements in which Wolverine Power Supply Cooperative will take a minority interest in the facility by funding and constructing the air quality control additions to the plant.
The Presque Isle Power Plant, located along the shore of Lake Superior, consists of five coal-fueled units capable of generating approximately 344 megawatts. Today’s deal provides that Wolverine Power Supply Cooperative will invest approximately $130 to $140 million to retrofit the facility’s units to meet environmental regulations and that We Energies and its employees will continue to operate the plant and its air quality control system. The joint venture will enable the continued operation of the power plant, while supporting the regional economy by creating construction jobs and protecting the local tax base.
The Sutherland attorneys representing Wolverine Power Supply Cooperative included Energy Partners Thomas H. Warren and Dorothy B. Franzoni, and Associate W. Jason Allman.
SUTHERLAND ASBILL & BRENNAN LLP
Sutherland Asbill & Brennan LLP is a law firm with global reach known for solving challenging business problems and resolving sophisticated legal issues for many of the world’s largest companies. Founded in 1924, the firm handles matters throughout the United States and worldwide. Seven major practice areas—corporate, energy and environmental, financial services, intellectual property, litigation, real estate, and tax—provide the framework for an extensive range of focus areas, allowing Sutherland attorneys to serve a diverse client base that ranges from small and medium-sized start-up businesses to a significant number of Fortune 100 companies.