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, a 500MWac/631MWdc solar initiative developed by Hecate Energy LLC, and to increase its stake in Castleton Resources LLC, an upstream oil and gas company, from 46% to approximately 70%. K&L Gates LLP provided tailored legal guidance throughout these complex transactions. For the Aktina Solar Project acquisition, which closed on August 11, 2020, the firm’s team, led by partner Toshi Yoshida, navigated a range of challenging legal issues, ensuring a smooth transition into the U.S. renewables market. This acquisition not only increased Tokyo Gas’ total renewable energy capacity to over 1,200 MWdc but also marked the company's first global solar project from construction to commercial operation. In the second transaction, which closed on August 14, 2020, K&L Gates facilitated Tokyo Gas’ acquisition of a majority interest in Castleton Resources. This strategic move allowed Tokyo Gas to gain additional oil and gas assets in Louisiana and rebrand Castleton Resources to “TG Natural Resources LLC” by March 2021. The legal expertise provided by K&L Gates was crucial in addressing upstream oil and gas joint venture management issues, enabling Tokyo Gas to successfully close these significant acquisitions. Overall, these transactions not only expanded Tokyo Gas America’s operational footprint in the renewable energy and oil and gas sectors but also demonstrated the firm's capability in handling intricate legal matters in a highly regulated industry.