Lehman Brothers Private Equity Acquires Equity Stake in SkyPower

On June 11, 2007, Lehman Brothers Private Equity acquired a 50 per cent equity stake in SkyPower Corp., a Canadian leading independent renewable energy developer with interests in more than 50 wind and solar projects at various stages of development across Canada, representing more than 7,000 MW of potential capacity.

The investment includes an up-front acquisition payment, commitments to future project financing, as well as other investment opportunities in the renewable energy sector. A portion of the up-front payment will be used by the Adler Renewable Energy Foundation (AREF) a foundation formed to help provide select schools and needy communities in Canada the ability to benefit from clean renewable power by having solar or wind power to augment or replace where possible their current power needs. The acquisition price was undisclosed.

Goodmans LLP represented Lehman Brothers Private Equity in Canada with a team led by Dan Gormley and Jon Northup that included Candy Schaffel, Justin Beber, Pollyanna Lord and Derek Bulas (corporate); Jeffrey Shore and Jonathan Freeman (real estate); and Marisa Wyse (tax); and in the US by Milbank, Tweed, Hadley & McCloy LLP with a team led by Edwin Feo, which included Simon Friedman and Mark Regante (tax); Deborah Ruosch (corporate); Charles Westland (anti-trust); and Dava Casoni and Liana Soll.

Bennett Jones LLP represented SkyPower Corp. with a team that included Barry Reiter, Robert Fabes, Beth Riley, Darcy Legros, Holly Ward, Deanne Henry (corporate) and Bernard Morris and Tom Bauer (tax).