M&A Advisory
K&L Gates
Full Credential Description
Tokyo Gas America Ltd. faced significant challenges as it sought to expand its presence in the U.S. renewable energy market and enhance its oil and gas . The company aimed to acquire the Aktina Solar Project in Texas and a majority stake in Castleton Resources LLC, which required navigating complex legal issues associated with both transactions. K&L Gates LLP provided tailored legal guidance throughout these acquisitions. For the Aktina Solar Project, which has a capacity of 500MWac/631MWdc, the firm helped Tokyo Gas navigate the intricacies of entering the U.S. renewables market. This acquisition, which closed on August 11, 2020, increased Tokyo Gas’ total renewable energy capacity to over 1,200 MWdc and marked the company's first global solar project from construction to commercial operation. The legal team, led by partner Toshi Yoshida, effectively addressed a range of challenging legal issues, facilitating a smooth transaction process. In the second acquisition, which closed on August 14, 2020, Tokyo Gas increased its ownership interest in Castleton Resources from 46% to approximately 70%. This strategic move not only expanded Tokyo Gas’ oil and gas assets in Louisiana but also led to the rebranding of Castleton Resources to “TG Natural Resources LLC” by March 2021. K&L Gates’ expertise in oil and gas upstream and joint venture management was crucial in successfully closing this acquisition, as noted by Katsuhiro Ohbi, Chief-Vice President of Tokyo Gas America Ltd. Overall, these transactions exemplified Tokyo Gas America’s strategic expansion into the U.S. energy sector, supported by K&L Gates’ comprehensive legal counsel, which addressed both renewable energy and oil and gas industry complexities.