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Shellka Arora

Sr. Associate

Shellka  Arora

New York

T:+1 212 408 5524

Shellka Arora's practice is focused on representation of investors, lenders, borrowers and export credit agencies in project and acquisition finance.

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  • Education

    2008 - LL.M., Harlan Fiske Stone Scholar, Columbia Law School

    2000 - LL.B., Delhi University, Faculty of Law

    1998 - A.C.S., The Institute of Company Secretaries of India

    1994 - B.Comm., with honors, Delhi University, Shri Ram College of Commerce

  • Representative experience

    • Represented Sumitomo Mitsui Banking Corporation in providing a US$45 million back-leverage loan in connection with a 26 MW solar photovoltaic project located in California.
    • Representing Overseas Private Investment Corporation as senior lender to a 50 MW wind farm under development by Sapphire Wind Power Company Limited in Province of Sindh, Pakistan. 
    • Representing Overseas Private Investment Corporation, Meezan Bank Limited, Bank AL Habib Limited, The Bank of Punjab and Habib Metropolitan Bank Limited as senior lenders to a 50 MW wind farm under development by Master Wind Energy Limited in Province of Sindh, Pakistan.
    • Representing Overseas Private Investment Corporation as senior lender to a 50 MW wind farm under development by Jhimpir Power (Private) Limited in Province of Sindh, Pakistan. 
    • Representing Overseas Private Investment Corporation as senior lender to a 50 MW wind farm under development by Hawa Energy (Private) Limited in Province of Sindh, Pakistan.
    • Representing Overseas Private Investment Corporation and Citibank on a joint financing for K-Electric Limited to support K-Electric Limited’s transmission and distribution enhancement and rehabilitation project in Pakistan.
    • Represented the lenders in a US$208 million holding company debt financing for Caithness Brookhaven, LLC, which owns 99 percent of the equity interests in Caithness Long Island, LLC. Caithness Long Island, LLC owns a 346 MW dual fuel combined cycle electric generating facility that commenced operation on August 1, 2009. It was the first major baseload power plant to be built on Long Island in over thirty years. The project sells power to the Long Island Power Authority under a 20-year power purchase agreement.
    • Represented North American Development Bank and Banco Mercantil del Norte, S.A., Institucion de Banca Múltiple, Grupo Financiero Banorte, as lenders, in connection with a cross-border financing to Compañia Eólica de Tamaulipas, S.A. de C.V. (CETSA) for a 54 MW wind project in Tamaulipas, Mexico. The project is the first-ever bank-funded wind project in the north of Mexico. 
    • Represented Mizuho Corporate Bank, Ltd, North American Development Bank, The Bank of Tokyo-Mitsubishi UFJ, Ltd and Siemens Financial Services, Inc as senior lenders to the 200 MW Los Vientos IA wind farm project, utilizing 87 Siemens 2.3 MW turbines, being developed in Texas by affiliates of Duke Energy. 
    • Represented Mizuho Corporate Bank, Ltd, North American Development Bank and The Bank of Tokyo-Mitsubishi UFJ, Ltd as the senior lenders to the 202 MW Los Vientos IB wind farm project, utilizing 84 Mitsubishi Heavy Industry 2.4MW turbines, being developed in Texas by affiliates of Duke Energy. 
    • Representing Sithe Global Power in connection with the development of a 165 MW hydroelectric project in Guyana, together with a 300 kilometer transmission line. 
    • Represented Siemens Financial Services, Inc., Crédit Agricole Corporate and Investment Bank, and Union Bank, N.A. in connection with term conversion of construction loans for Pattern Energy's 151.8 MW Spring Valley wind project, located near Ely, Nevada, the first major wind project in Nevada. 
    • Represented Samsung C&T in connection with its joint venture with Lincoln Renewable Energy, L.L.C. for development of solar projects in the United States. 
    • Represented NextEra Energy Resources in connection with its debtor-in-possession financing to Solar Trust of America LLC and potential asset purchase in bankruptcy. 
    • Represented an infrastructure investment fund in connection with long-term concession of a public infrastructure asset worth over US$1 billion. 
    • Represented a consortium led by an infrastructure investment fund in connection with its forward starting naked interest rate swaps. 
    • Represented a private equity fund on its leveraged acquisition of a portfolio of four power generation facilities and one power transmission line in the United States. 
    • Represented a development bank in connection with its financing guaranteed by a European export credit agency for project entailing development and construction of a containerboard mill in the United States. 
    • Represented U S Ex-Im Bank in connection with its financing of a 366 MW combined cycle gas-fired power plant in India. 
    • Recognized by Lawyers Alliance of New York as volunteer of the month for outstanding contribution in developing collaborative organization and governance framework for six community-based organizations in Sunset Park, Brooklyn.  

    Before beginning her practice in the United States, Shellka worked as legal associate at the World Bank, New Delhi, India, where she advised on the World Bank's lending, portfolio management and technical assistance program in India, and worked on projects in sectors including finance, energy, infrastructure, health and education. 

  • Admissions
    • India
    • New York State Bar License
  • Publications
    • "Energy Storage On The Cusp: FERC Order No. 755," Project Finance NewsWire, December 2013
    • "Energy Storage Update," Project Finance NewsWire, August 2013
    • "Energy Storage Update; The nascent electricity storage industry is starting to make progress both in California and at the federal level," Project Finance NewsWire, August 2013
    • "能源存储:路在何方," January 11, 2013
    • "Energy Storage: The Road Ahead (Special Update)," November 19, 2012
    • "Energy Storage Market set to grow to $25 billion by 2021," Project Finance NewsWire, November 2012
  • Speaking engagements
    • "Combining Solar + Storage for Residential Installations, " Moderator, Infocast's 10th Annual Storage Week, Oakland, California, February 22-24, 2017
    • "Energy Storage Finance & Investment," Moderator, Infocast’s 7th Annual Storage Week, Santa Clara, February 11-13, 2014
    • "New York Energy Storage Initiative Update," (Webinar Panel Discussion), AGRION’s New York Energy Storage Initiative, November 19, 2013
    • Presenter, "Project Finance 101 for Storage Technology Developers & Vendors," Infocast’s 6th Annual Storage Week, Austin, TX, April 2-4, 2013
  • Memberships and activities

    • Lecturer in Law: Guest lecturer at Columbia Law School for International Financial Transactions – Project Finance module, 2012-present
    • Associate, Freshfields Bruckhaus Deringer US LLP, New York, 2008-2011
    • Legal Associate, The World Bank, New Delhi, India, 2003-2007
    • Associate, Orr, Dignam & Company, Solicitors & Advocates, New Delhi, India, 2000-2003

  • Languages
    • Hindi