Heather Welch Arbogast Partner

Heather Arbogast advises clients on a broad range of transactions and regulatory issues in the energy space, including mergers and acquisitions, joint ventures, energy project development, structured commodity transactions, power purchase agreements, build transfer agreements and retail energy regulatory compliance matters. Heather has worked on solar, wind and battery projects.

Heather also advises clients on a broad range of corporate governance issues, including complex commercial contracts.

Following law school, Heather was a judicial clerk for the Honorable Kathryn Grill Graeff of the Court of Special Appeals of Maryland. While earning her law degree from the University of Baltimore School of Law, she was the Editor in Chief of the University of Baltimore Law Review, member of the National Moot Court team, chair of the Moot Court Board, and received the law faculty graduation award. She has been recognized by Chambers USA for her Corporate/M&A work in Maryland since 2018.


Mergers, Acquisitions and Project Development
  • Representation of Sprint, a communications services company, in its acquisition of 1,435 retail stores from RadioShack, a deal that more than doubled Sprint’s company-owned retail footprint.
  • Representation of a North American retailer of energy and energy services and its parent company in their $60 million acquisition of an Israel-based energy management firm.
  • Representation of Intralytix, Inc., a leader in bacteriophage technology, in connection with a $17.5 million equity investment by Lesaffre, a France-based manufacturer and marketer of innovative solutions for biotechnology.
  • Representation of a U.S.-based subsidiary of a Japanese utility in the development, construction and operation of a behind the meter central utilities plant that will provide steam and utility services to a host facility located in the Southeastern U.S. with an aggregate value in excess of $340 million.   
  • Representation of an issuer in equity financings aggregating several billion in the past five years.
  • Representation of a North American retailer of energy and energy services in the disposition of non-core energy related businesses located in the U.S. and Canada which resulted in nearly $50 million in cost savings to the client.
  • Representation of a UK-based entity in the acquisition of a U.S.-based data management solution with offices in India and Ukraine. 
  • Representation of a real estate fund in connection with its innovative financing involving a new asset class that has emerged in the capital markets real estate world, consisting of extremely large portfolios of single family rental houses.
  • Representation of one of the largest producers and transporters of energy in the U.S. in its acquisition of the 80MW solar farm from a clean energy company. 
  • Representation of a private equity firm in the financing and sale of a leader in precision motion control technology.
  • Representation of a clinical-stage biotechnology company in the sale of its equity stake in a Russia-based biotechnology company to a Russian investor. 
  • Representation of a specialized provider of transaction tax automation services and solutions in its software licensing agreements.
  • Representation of a direct marketing firm for deregulated energy and telecom companies in its acquisition of one of America’s fastest growing retail suppliers of electricity and natural gas.
Retail Supply Regulation and Related Transactions
  • Regular counsel and advice to competitive electric and gas suppliers on retail supply regulations throughout the eastern part of the U.S. and Texas, including drafting and negotiating power purchase agreements for both retail and wholesale supply.
  • Significant experience in connection with the acquisition and disposition of customer books to and from retail energy suppliers.
  • Regularly advise and structure ancillary service offerings for retail energy companies to market and sell to both residential, commercial and industrial customers.
  • Regulatory compliance and monitoring, including assistance with licensing, consumer protection, unfair and deceptive trade practices compliance, billing and contracting requirements, customer disclosure issues, anti-slamming and anti-cramming procedures.
  • University of Baltimore School of Law, JD, magna cum laude, Editor in Chief, University of Baltimore Law Review, 2010
  • University of Maryland, BA, Government and Politics, Phi Beta Kappa, 2007

Member, Maryland State Bar Association

Member, American Bar Association

Adjunct Board Member, Maryland Volunteer Lawyers for the Arts, 2011-2015

Secretary and Co-chair, Black and White Party Committee, Pratt Contemporaries Board, 2014 - current

Co-chair and Executive Leadership member, Go Red for Women Open your Heart Committee

Member, Energy and Natural Resources Committee, Greater Baltimore Committee

Member, Planning and Project Development Committee, Greater Baltimore Committee

  • Maryland

Selected for inclusion in America's Leading Lawyers for Business, Corporate/M&A, Maryland, Chambers USA, 2019, 2020

Named an "Associate to Watch" in Corporate/M&A, Chambers USA, 2018

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