Pillsbury Law

Innovative Solutions to Complex Challenges

Multiple bankruptcies, a credit market meltdown, and a deal that was the first of its kind. These were just a few obstacles Pillsbury faced in successfully closing Japan-based Mitsui's C$650 million financing and development of the Greenfield Energy Centre, the largest North American power project financing in 2007. A 50-50 partnership between Mitsui and Calpine, the Greenfield project was nearly derailed early on by bankruptcy filings in the U.S. and Canada by Calpine, the project construction manager, and a major contractor. Advancing the project while protecting Mitsui's interests required a collaborative effort between Pillsbury's Energy, Finance, Corporate, Insolvency, Tax, Litigation, and Japan practices. Innovative thinking and an ability to work in close collaboration with other law firms, in an often contentious environment, were key contributions Pillsbury made to the project's successful outcome.