White & Case has made a key addition to its team by acquiring Mayer Brown partner Nadav Klugman, manifesting its ambitions of expanding into the renewable energy sector. Klugman will serve as a partner in the firm’s global project development and finance practice in Chicago.
Klugman’s expertise lies in global project finance and infrastructure investment. He has noteworthy experience guiding financial institutions through complex project financings and refinancings. Furthermore, he has extensive knowledge dealing with private acquisitions and divestitures of renewable energy investments.
White & Case is particularly enthusiastic about this addition, as Klugman’s skill set aligns perfectly with the firm’s asset classes and client base. Klugman himself cherishes the “universe of opportunities” that White & Case provides for someone with his level of expertise and talent.
Strategic growth in the U.S., particularly within the area of renewable energy, is a significant focus area for the firm, according to White & Case chair Heather McDevitt. The firm expects the demand within the renewables sector to remain strong.
Recent data support McDevitt’s assertion. According to BloombergNEF, approximately $303 billion was invested in energy transition financing last year, and a record 42GW of new renewable power-generating capacity was added to the U.S. grid.
Prior to this acquisition, White & Case had represented Enviria Energy Holding GmbH to secure a capital commitment of over $200 million from BlackRock. Additionally, the firm had guided TotalEnergies on its agreement to acquire Talos Low Carbon Solutions.
Emphasis has been placed on non-traditional renewable energy sources such as battery storage, carbon capture, biofuels, and electric vehicles. White & Case aims to finance these emerging sectors, in line with their strategic growth. Klugman’s tax equity structures knowledge, when combined with the firm’s project financing capabilities, will solidify the firm’s position to seize these new market opportunities.