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Michael B. Woodard Partner

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Richmond T +1 804 775 4729 F fax +1 804 698 2210
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Mike is the chair of the firm’s Mergers & Acquisitions and Energy Transactional department. He concentrates his practice in the areas of mergers and acquisitions, energy transactions and finance, and general corporate counseling.

Energy Transactions and Finance

Mike serves as lead transactional counsel to utilities, developers and investors (including tax equity) as they navigate the development, purchase and sale of energy projects as well as the structuring, negotiation and implementation of corporate transactions and financings. He has led successful regulated and unregulated transactions involving wind, solar, battery storage, fuel cells, landfill gas and other alternative energy sources in Arizona, California, Colorado, Illinois, Indiana, Louisiana, Oregon, Texas, Washington, and along the East Coast.

Corporate

Mike represents purchasers and sellers, both private and public companies, in stock and asset purchases, merger and acquisitions, joint ventures, and leveraged and management-sponsored buy-out transactions. He has experience advising public companies in public and private offerings of debt and equity securities, including initial public offerings. In addition, he advises clients regularly on compliance with 1934 Act reporting requirements and annual meeting and proxy statement matters.

In addition to his M&A and securities work, Mike partners with his clients on general corporate matters, including corporate governance issues, fiduciary duties and other standards of conduct. He also works with clients in each stage of venture capital growth, providing advice on an array of corporate issues facing an emerging and growing company.

Experience

  • Representation of a seller of its Pennsylvania natural gas distribution company to an affiliate of an infrastructure fund that owns and manages utilities and other infrastructure assets for approximately $780 million.
  • Representation of an energy company in a $256 million stock sale of three peaker generating stations.
  • Representation of a public utility in a $150 million asset purchase of wood burning electric generating facility.
  • Representation of a renewable energy company that designs, builds and operates distributed landfill gas power generating facilities in a $57 million sale (merger) to private equity fund.
  • Representation of a public utility in separate purchase transactions (ranging in size from $35-40 million) of assets related to the development of electric generating facilities.
  • Representation of a company in a $38 million stock purchase of a manufacturer of industrial centrifuges and related equipment.
  • Representation of a company in a $35 million purchase (merger) of a distributor of paperboard products.
  • Representation of a company in a $30 million sale (asset and stock transactions) of multiple subsidiaries that design, manufacture and distribute tactical and logistic shelters and related products for military and commercial applications.
  • Representation of a private equity portfolio company in a $10 million add-on transaction in the purchase of assets of manufacturer of corrosion-resistant industrial doors.

Solar Transactions

  • Representation of solar developer in a joint venture transaction and subsequent divesture involving in excess of 300 MW of near Notice To Proceed projects and more than 1.5 GWs of projects in development.
  • Representation of a global renewable energy asset manager in acquiring 70% ownership rights of a 280 MW and a 285 MW development-stage solar projects in Mohave County, Arizona.
  • Representation of unregulated utility affiliate as acquirer in connection with the acquisition and development of six solar PV projects having an aggregate nameplate capacity of 139 MW in Kern, Kings and Fresno County, California.
  • Representation of solar developer in sale of six solar projects located in Oregon totaling approximately 65 MW.
  • Representation of unregulated utility affiliate as acquirer in connection with the acquisition and development of a 60 MW solar PV project in Currituck County, North Carolina.
  • Representation of unregulated utility affiliate as acquirer in connection with the acquisition and development of 50 MW solar PV project in Millard County, Utah.
  • Representation of solar developer in sale of a 40 MW solar project located in North Carolina.
  • Representation of unregulated utility affiliate as acquirer in connection with the acquisition and development of three solar PV projects with an aggregate nameplate capacity of 30 MW in Indianapolis, Indiana.
  • Representation of solar developer in sale of two 20 MW solar projects located in Oregon.
  • Representation of solar developer in sale of 20 MW solar project located in Connecticut.
  • Representation of solar developer in sale of three solar projects located in North Carolina totaling approximately 20 MW.
  • Representation of solar developer in sale of three solar projects (each totaling approximately 15 MW) in North Carolina.
  • Representation of unregulated utility affiliate as acquirer in connection with the acquisition and development of an approximately 10 MW solar PV project to be located on the Site in Davisboro, Georgia.

Wind Transactions

  • Representation of an independent renewable energy company focused on utility-scale generation facilities in its $2.25 million sale of a 250 MW wind farm in Texas.
  • Representation of a wind generation developer in connection with a $98 million sale to a large international oil company.

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