Insights
Firm News

Farella Braun + Martel Advises World Energy on Its Acquisition of California Renewable Fuel Assets

March 27, 2018 Announcement

San Francisco, March 27, 2018: Farella Braun + Martel LLP represented World Energy, LLC, one of the largest advanced biofuel suppliers in North America, in its acquisition of Delek US Holdings, Inc.’s interests in renewable jet fuel and diesel producer AltAir Paramount, LLC. The transaction included AltAir’s Paramount Petroleum, LLC’s refinery assets and an adjacent tank farm in Paramount, CA, as well as, most of Delek’s California pipeline assets.

The acquisition of the world’s first renewable jet fuel refinery—and one of only three US renewable diesel plants—strategically places World Energy in the growing California cleaner fuels market and is part of its broader effort to build out a large-scale coast-to-coast presence for blended advanced biofuel supply targeting high growth submarkets focused on reducing carbon intensity in motor fuels.

According to an article in Biofuels Digest, the sale marks the first time that a biofuels enterprise has acquired a well-known petroleum refinery. The sale was described as “audacious” and “a masterstroke.”

Read World Energy’s announcement, here.

The Farella Renewable Energy and Clean Technologies practice team was led by Environmental/Energy partner Jon Benjamin and included Business Transactions partner David Stoll and senior associate Greg LeSaint, and Real Estate partner Richard Rabbitt and associate Susannah Ragab. Business Transactions partner Philip Peters and senior associate Jeffrey Hamilton advised on Hart-Scott-Rodino Antitrust Improvements Act issues. The deal team was further assisted by attorneys in Farella’s Employment and Tax practices.

Farella Braun + Martel LLP is a leading Northern California law firm representing corporate and private clients in sophisticated business transactions and complex commercial, civil and criminal litigation. Clients like our imaginative legal solutions and the dynamism and intellectual creativity of our lawyers. The attorneys in each practice group work cohesively in interdisciplinary teams to advance the clients’ objectives in the most effective, coordinated and efficient manner. Founded in 1962, we are headquartered in San Francisco and maintain an office in the Napa Valley that is focused on the wine industry.  

Contact:
Cheryl Loof
Farella Braun + Martel LLP
415.954.4433 / [email protected]

Firm Highlights

Publication

Fed Announces New Main Street Lending Program

Loans Will Provide Additional Support for Small and Mid-sized Businesses On April 9, 2020, the Federal Reserve released the terms of its Main Street Lending Program , a $600 billion loan fund for U.S...

Read More
Publication

San Francisco Now Requires 100% Renewable Energy for Commercial Buildings

The San Francisco Board of Supervisors passed an ordinance this week requiring owners of all nonresidential buildings in San Francisco of at least 50,000 square feet to provide all on-site electricity demands from 100...

Read More
Publication

Unpacking California Solar Taxation: What to Know During Development

Development of solar projects in California has been spurred by California’s renewable portfolio standard (RPS), which requires that 60% of retail electricity sales must be served by renewable resources by 2030 and requires all...

Read More
Publication

CARES Act Paycheck Protection Program Summary (Updated)

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Paycheck Protection Program (PPP) aims to provide qualifying small businesses, nonprofit organizations, veterans organizations, tribal businesses, sole proprietors, and independent contractors forgivable loans of...

Read More
Publication

Permitting Utility-Scale Battery Energy Storage Projects: Lessons From California

The increasing mandates and incentives for the rapid deployment of energy storage are resulting in a boom in the deployment of utility-scale battery energy storage systems (BESS). In the first installment of our series...

Read More
News

Dan Cohn Named to American Friends of Tel Aviv University Board of Directors

SAN FRANCISCO, May 26, 2020: Farella Braun + Martel Partner Daniel E. Cohn was elected to the American Friends of Tel Aviv University (AFTAU) Board of Directors. AFTAU is a nonprofit organization that raises...

Read More
Publication

Renewable Energy Roundtable Update in the Wake of COVID-19

The COVID-19 pandemic has resulted in widespread disruption of business and industry across California, including the state’s vibrant renewable energy and energy storage industry. Farella Braun + Martel attorneys are tracking developments and advising...

Read More
Publication

Batteries, Bankruptcies and the Future of Renewable Energy

The Growth of Renewable Energy Renewable energy sources have been rapidly deployed across the nation for more than a decade. In addition to government mandates in California and other states promoting renewable energy, federal...

Read More
Publication

Changing Climate, Changing Laws: Addressing New Wildfire Risk Requirements in Project Development

In this op-ed for pv magazine, David Lazerwitz and Linda Sobczynski of Farella Braun + Martel examine the levels of precaution necessary to ensure fire risk mitigation in project development. The increasingly common occurrence...

Read More
Publication

Engineering, Procurement and Construction Agreements for Utility-Scale Battery Projects

The negotiation of an engineering, procurement and construction (EPC) agreement for a battery energy storage systems (BESS) project typically surfaces many of the same contractual risk allocation issues that one encounters in the negotiation...

Read More