Chloe Kwon

Overview

As a member of the firm’s Energy and Infrastructure Team, Chloe advises sponsors, lenders, investors, government enterprises and other project participants in all aspects of energy and infrastructure project development and financing, acquisition and divestiture of projects and project portfolios, cross-border investments, joint ventures and other M&A transactions, including those involving cross-border complexities.

Also as a member of the firm’s Agency Finance Team, Chloe represents the United States government agencies and multilateral, bilateral and regional development finance institutions (DFIs) in equity, corporate debt, project finance debt, partial credit guarantees and risk sharing facilities transactions as well as provision of political risk insurance for sovereign debt conversion transactions.

Experience

Energy and Infrastructure

Represented tax equity investors in a partnership flip transaction in connection with the world's largest carbon-capture, sequestration and utilization (CCSU) project in Texas.
Represented Exus Management Partners on the acquisition of a 100% equity interest in a 244 MW wind farm portfolio in Pennsylvania from Vitol.
Represented an investment and asset management firm on the acquisitions of multiple project assets in Pennsylvania, Virginia, Mississippi, Arizona, Arkansas and Kentucky for development of the solar photovoltaic power generation and energy storage development projects.
Represented one of Asia’s largest independent energy developers on the acquisition of a 50% interest in the 1,304 MW operational natural gas-fired combined cycle power facilities, comprising of Marcus Hook in Philadelphia, PA, Milford Power in Milford, MA and Dighton Power in Dighton, MA.
Represented Electricity Generating Public Company Limited (EGCO) on the acquisition of a 49% interest in a 609 MW natural gas-fired combined-cycle power plant in Rhode Island, a key facility for providing ISO New England grid stability services.
Represented one of Asia’s largest independent energy developers, in connection with co-investors through funds managed by ARES Management Corporation (NYSE: ARES), to acquire through a series of interim mergers a substantial majority interest in Apex Clean Energy Holdings, LLC, which has commercialized more than $ 9 billion of utility-scale solar and wind projects and is developing a diversified clean energy portfolio of more than 30,000 MW situated throughout the US.
Represented one of Asia’s largest independent energy developers on the acquisition of a strategic ownership interest in a 972 MW operational combined-cycle natural gas-fired cogeneration power plant in New Jersey. Electricity from the plant is sold to both the New York and New Jersey electricity markets and covers New York City and other neighboring metropolitan areas.
Represented a project developer and owner of a 4x138MW coal-fired power plant in the Philippines on divestiture of its equity interest and recapitalization.
Represented Electricity Generating Public Company Limited (EGCO) on its multimillion dollar, cross-border acquisition of a 25% equity interest in the 640 MW Yunlin Offshore Wind Power Farm Project, the biggest wind farm in Taiwan to date from its shareholders in Europe and Japan.
Represented a lending group consisting of Regional Development Bank in Asia and Thai commercial bank on an approximately $ 20 million project financing to complete the supply, installation and construction of a 10MW Lomligor Wind Power Farm Project with an integrated 1.88 MWh battery energy storage system in Nakhon Si Thammarat Province, Thailand. In June 2021, this transaction was recognized as “Battery Storage Deal of the Year” by the Asset Triple A Infrastructure Awards 2021.

Agency Finance

Representing the CHIPS Program Office of the Department of Commerce on multiple awards under the CHIPS Incentive Program under the CHIPS and Science Act, including, but not limited to:
- up to $123 million in direct funding to Polar Semiconductor, a Minnesota-based semiconductor foundry, to expand and modernize the company’s manufacturing facility in Bloomington, Minnesota;
- $1.5 billion in direct funding to GlobalFoundries to support a new state-of-the-art semiconductor manufacturing facility, significant capacity expansion, and the modernization of GlobalFoundries’ U.S. manufacturing sites in New York and Vermont, which produce essential automotive, communications, and defense semiconductor technologies; and
- $93 million in direct funding to Infinera to support the construction of a new fab in San Jose, California, and a new advanced test and packaging facility in Bethlehem, Pennsylvania.
Representing the U.S. International Development Finance Corporation (DFC) on the provision of political risk insurance to sovereign debt conversion, including, but not limited to:
- $656 million in political risk insurance for the world’s largest $ 656 million Galápagos marine conservation-linked bond in Ecuador, which is expected to generate $ 323 million for marine conservation in the Galápagos Islands over the next 18.5 years. In May 2024, the firm was awarded ESG Finance Deal of the Year at Latin Lawyer’s 2024 Awards for its representation of DFC on the transaction;
- $500 million in political risk insurance for the first-in-Africa $ 500 million Blue Bond in Gabon, which is expected to generate $ 163 million in dedicated marine conservation funding over the next 15 years; and
- $1 billion in political risk insurance for Ecuador’s first debt conversion to support terrestrial and freshwater conservation in the Amazon, refinancing approximately $ 1.53 billion of Ecuador’s international bonds and generating over $ 800 million in net fiscal savings for Ecuador by 2035, which is expected to unlock approximately $ 460 million in funding for the Amazon Biocorridor Program.
Representing the U.S. International Development Finance Corporation (DFC) in multiple cross-border equity and debt investments across the healthcare, energy, technology, financial services and infrastructure sectors in Oman, Kenya, Iraq, India, Nepal, Egypt, El Salvador, Palestine, South Africa and Switzerland.
Representing the Build America Bureau of the United States Department of Transportation.