Edmund D. Daniels Partner

Eddy utilizes his prior experience in senior leadership roles at major energy companies, infrastructure funds and banks to advise market participants in conventional and renewable energy asset and commodity transactions. Eddy has significant experience advising on joint ventures to develop, own and operate power plants and gas pipelines. He also advises on the acquisition and disposition of power plants, natural gas and fuel oil pipelines, gas storage facilities and real property.

Prior to private practice, Eddy was the general counsel and chief compliance officer at Panda Power Funds where he advised a family of private equity funds with more than $6 billion invested in seven gigawatts of power generation projects around the U.S. He advised on fund formation, equity raising, project development, acquisition and disposition, commodity transactions, and regulatory affairs. He also assisted in execution of complex finance transactions such as secured non-recourse project finance, mezzanine equity loans, and fund-level financings and negotiated joint ventures used to acquire the Stonewall project, a clean natural gas-fueled, 778 megawatt combined-cycle generating station in Virginia, and the Hummel project, a clean natural gas fueled, 1,124-megawatt combined-cycle generating facility in Pennsylvania.

Eddy was also previously managing director at JP Morgan Chase & Co., where he served as a general counsel of the Houston office where the firm’s North American power and gas groups and the commodities principal investments group were based. He also previously served as assistant general counsel for mergers and acquisitions and power plant development at NRG Energy, Inc. and as a senior counsel at Reliant Energy, UBS Warburg Energy, and Enron Corp.

Experience

Advised acquirer in purchase from Black and Veatch affiliate of the membership interests of company developing 100 MW solar facility in Texas, and advised the project company on negotiation of construction and procurement agreements for the facility.

Advised ad hoc group of secured lenders to Sandy Creek Energy Associates LP (owner of interests in 900+MW coal fired generation facility in Reisel, Texas) on regulatory and other Texas law issues in restructuring of $900mm in debt and assumption of equity of borrower.

Advised renewable project developers, energy merchants and investment banks on contracting and regulatory issues related to Winter Storm Uri in Texas.

Advised investment bank on diligence review of solar and battery storage projects in Hawaii in connection with planned hedging transactions.

Advised investment bank on detailed diligence review in connection with secured commodity hedge on 255MW solar facility under construction in ERCOT.

Advised energy merchant power offtaker in connection with resolution of a significant dispute with generator regarding a long term power purchase agreement in Virginia.

Advised offtaker in contractual dispute involving power purchase agreement for ERCOT peaking generation asset.

Advised energy merchant on financial hedge from battery storage portfolio in ERCOT.

Advised large industrial customer in negotiation of long term power purchase agreement from 200MW solar facility in Texas.

Advised investment bank on detailed diligence review in connection with contemplated secured commodity hedge for conventional peaker generation assets in ERCOT.

Advised secured lenders to Ultra Petroleum on local law and oil and gas issues faced in connection with restructuring of $2B in debt and assumption of the equity interests of the borrower.

Advised ad hoc group of secured lenders to Permian Production Partners LLC on Texas law and oil and gas issues faced in connection with restructuring of debt.

Advised investment bank in connection with termination of secured hedges in anticipation of insolvency of oil and gas producer.

Advised commodity trading shop on joint venture with national gasoline retailer for joint gasoline and diesel fuel supply arrangements.     

Advised private equity fund on sale of minority equity stakes in portfolio companies owning power generation assets in PJM.

Advised private equity fund on sale of 50% interests in solar generation facility in New Jersey.

Negotiated innovative financing arrangements with power generation equipment providers to provide credit support and trade collateral in connection with development and construction of power generation projects in PJM.

Negotiated acquisition of combined cycle power generation facilities in Pennsylvania and Virginia through joint venture with initial developer, and securing of gas transportation, gas supply, power offtake, EPC agreement, and secured project financing.

Negotiated restructuring of long term tolling agreements in the southeast US on behalf of the offtaker and acquisition, extension and restructuring of load serving arrangements.

Negotiated long term structured power contracts with municipal utilities and cooperatives in the ERCOT region.

Advised JP Morgan Commodity Principal Investments Group on numerous purchases and sales of energy assets in the United States, and related asset management activities.

Advised JP Morgan on acquisition of RBS/Sempra’s US trading book with specific focus on the physical power assets and tolling transactions.

Negotiated industry leading EPC contract for construction of next generation nuclear power generation facility including significant vendor financing facility.

Negotiated EPC contract and joint development agreement for Cedar Bayou 4 combined cycle generation facility in ERCOT.

Advised Texas Genco LLC on sale of fuel oil pipeline, gas storage facility, and power plant sites in ERCOT.

Negotiated innovative virtual toll agreements for Reliant Energy, Inc. from Texas Genco portfolio.

Negotiated numerous commercial and industrial and wholesale power and gas purchase and sale contracts on EEI, ISDA and long form PPAs.

Advised Reliant Energy, Inc. on the implementation and build out of its energy trading compliance program.

Assisted UBS AG in startup of trading activities in North America, including establishment of enabling agreements with ISOs, trading counterparties and online trading platforms. Created and implemented innovative energy trading compliance function at UBS.

Advised Enron Corp. on sale of wholesale trading business to UBS AG.

Advised Enron Corp. on development, financing and operation of combined cycle power plant in western Brazil and related gas pipeline project in Bolivia and Brazil with gas supply arrangements in Bolivia and Argentina.

Negotiated acquisition and disposition of numerous power plants and energy assets, including the going private transaction for Azurix Corp.

* Certain of the above matters were handled by Mr. Daniels prior to joining McGuireWoods LLP.
  • The University of Texas School of Law, JD, Articles Editor, Texas Law Review, 1993
  • Georgetown University School of Foreign Service, BSFS, cum laude, 1990

Clerkships

Hon. Edith H. Jones, United States Court of Appeals, 5th Circuit (1994-1995 Term)

Hon. Melinda F. Harmon, United States District Court, S.D. Texas (1993-1994 Term)

  • Texas
  • District of Columbia
  • Moderator, "How ESG Impacts Project Valuations and Investment Decisions," Projects & Money, January 27, 2022
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