Kenneth Hansen

Partner
Norton Rose Fulbright US LLP

Kenneth Hansen

Kenneth Hansen

vCard

Biography

Kenneth Hansen's practice involves representing investors (both debt and equity), including bilateral and multilateral development finance agencies, in structuring, negotiating, documenting and implementing domestic and international project financings, particularly in the energy sector. He leads the firm's extensive practice in connection with the US Department of Energy's Loan Guarantee Program for innovative and alternative energy projects.

Ken's sectoral experience ranges from power generation, transmission and distribution projects to oil and gas, transportation, and telecommunications infrastructure projects, as well as a range of industrial and commercial projects. He is also experienced in debt work-outs and the settlement of investment disputes, including political risk insurance claims.


Professional experience

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JD, cum laude, University of Pennsylvania Law School, 1983
MPA, Harvard University, 1979
MA, Yale University, 1976
BA, cum laude, Harvard University, 1974

  • District of Columbia Bar
  • Massachusetts State Bar

US Department of Energy project financings

  • Represented the following project sponsors that successfully closed DOE loan guarantees for solar power generation projects:
    • BrightSource Energy in the $1.6 billion financing of the 392 MW Ivanpah Solar Electric Generating System, which, when completed, will be the largest solar project in the U.S.;
    • Sempra Generation in a $359 million loan guarantee for the construction of the 150 MW Mesquite photovoltaic solar power project in Arizona;
    • Cogentrix of Alamosa LLC for a $90.6 million loan to support one of the first, and the largest, utility scale, concentrating photovoltaic energy generation facilities; and
    • Prologis in a partially DOE-guaranteed $1.4 billion loan to support the installation of approximately 733 MW of photovoltaic solar panels on industrial buildings across the U.S.
  • Represented the following project sponsors that successfully closed DOE loan guarantees for wind power generation projects:
    • Caithness Energy and GE Energy Finance in the multi-phase development and approximately $2 billion financing of the 845 MW Shepherd's Flat wind project in Oregon;
    • FirstWind Energy in the $117 million financing of the 30 MW Kahuku wind and battery project in Hawaii; and
    • Yale University and Wagner Wind Energy LLC in the $102 million financing of the 50 MW Record Hill wind power plant in Maine.
  • Represented in other successfully closed DOE-guaranteed financings:
    • Credit Suisse as lead lender in the $937 million partially DOE-guaranteed financing of NextEra's 250 MW Genesis solar thermal project under construction in Riverside County, California, including a $702 million offering of pass-through certificates issued under Rule 144A, a $150 million bank loan facility and an $85 million letter of credit facility;
    • Grupo ACS and Banco Santander S.A. as equity investors in the 110 MW Tonopah thermosolar electric generation project being developed by SolarReserve in Nevada; and
    • Abound Solar Inc. in a $400 million DOE-guaranteed financing for its construction of two photovoltaic panel manufacturing facilities.


Cross-border transactions

  • Representing Corporación Andina de Fomento (CAF) and two Chilean commercial banks in their $99 million project co-financing of the 144 MW Atacama PV solar project being developed in northern Chile by Canadian Solar.
  • Represented the International Bank for Reconstruction and Development (World Bank) in the $900 million project financing of the 450 MW open cycle gas-fired Azura Power Project in Nigeria and in a $500 million trade financing for Naftogaz, the natural gas utility of Ukraine.
  • Represented Actis in connection with financing provided by the Overseas Private Investment Corporation (OPIC) for the 100 MW Kepito Wind Power Project in Kenya.
  • Represented Longwing Energy in connection with OPIC's $150 million financing of the 98 MW first phase of the Zaporizhia Wind Power Project in Ukraine.
  • Represented Goldman Sachs as hedge provider in connection with the financing provided by Overseas Private Investment Corporation (OPIC) for the 258 MW Taiba Ndiaye wind power project in Senegal.
  • Represented the Inter-American Development Bank (IDB) in:
    • a proposed guaranty of obligations of the Ministry of Transportation of Argentina in connection with a portfolio of highway PPPs; and
    • its $70 million investment in a total $175 million securitization program over diversified payment rights (DPRs) arising primarily out of remittances to persons in El Salvador from family members abroad.
  • Represented the International Finance Corporation (IFC), the OPEC Fund for International Development and the Central American Bank for Economic Integration in an approximately $150 million of senior secured loan facilities to finance a 73 MW portfolio of utility-scale solar projects in Honduras.
  • Represented IDB, Corporación Andina de Fomento (CAF), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) and Banco Internacional del Perú S.A.A. (CAF) in their $140 million project financing of Maple Energy's $254 million ethanol production facility with an associated 37 MW power plant and sugar plantation.
  • Represented OPIC in:
    • the restructuring of the Dabhol Power Project (India) and in related political risk insurance claims;
    • the development of a guaranty against devaluation risk for $300 million in project bonds for the AES Tiete Hydropower Projects (Brazil);
    • settlement of the Alliant Kyiv expropriation claim against the Government of Ukraine pursuant to which OPIC recently reopened its investment-promotion programs in Ukraine; and
    • the updating of its form of political risk insurance contract for equity investors.
  • Represented the Asian Development Bank (ADB) in connection with:
    • the development of a "guarantor-of-record" political risk guaranty which supported financing for the Phu My 2.2 power project (Vietnam);
    • political risk guaranties provided jointly MIGA to support financing for the Phu My 3.0 power plant (also in Vietnam); and
    • the formation of its standard partial (political) risk guaranty.
  • Represented Interconexión Eléctrica S.A. E.S.P. in:
    • its successful bid to purchase in a privatization the controlling interest in Companhia de Transmiss o de Energia Eletrica Paulista SA (CTEEP), the São Paulo state power transmission company, Brazil's second-largest power transmission company, and in a related interim financing package and its replacement with a $554 Rule 144A/Regulation S offering; and
    • the financing by the IDB and CAF of an expansion of the electrical transmission system in Bolivia.
  • Represented Endesa (Chile) in the monoline-insured bond financing of two toll roads, Autopista del Sol S.A. and Autopista Los Libertadores (Chile).
  • Acritas Star, Acritas, 2019 – 2021
  • Who's Who Legal, project finance, Law Business Research Ltd., 2018 – 2019
  • Chambers Global, Projects (USA), Chambers and Partners, 2006 – 2017, 2019 – 2023
  • Chambers Global, Energy, Latin America – wide, Chambers and Partners, 2006 – 2017 
  • Chambers USA, Nationwide: Projects; Chambers and Partners, 2005 – 2020, 2022 - 2023
  • Chambers USA, Nationwide: Projects: PPP; Chambers and Partners, 2023
  • The Best Lawyers in America, project finance, Best Lawyers, 2006 – 2015, 2018 – 2021
  • Best Lawyers - Project Finance Law, Best Lawyers, 2022 - 2024
  • Washington DC Super Lawyers, International, Thomson Reuters, 2013 – 2021
  • Recommended lawyer, Banking and finance and Projects and energy, Legal 500 Latin America, 2018
  • Client Service All-Star, BTI Client Service All-Stars report, 2017 – 2018
  • Recipient of the Charles Fahy Distinguished Adjunct Professor Award for the Graduate Program at Georgetown University Law Center, 2011 – 2012
  • Expert Guides, Project Finance, Legal Media Group, 2020
  • "Ex-Im Bank Expanding Domestic Finance Options, Project Finance NewsWire, June 2022"
  • "Sophisticated Use of Political Risk Insurance, Project Finance NewsWire, March 2022"
  • "Buying American for Infrastructure, Project Finance NewsWire, December 2021"
  • "EXIM Has Work to Do at Home," Project Finance NewsWire, December 2020
  • "DFC Launches the DFC-DPA Loan Program," Project Finance NewsWire, August 2020
  • "DFC Replaces OPIC," Project Finance NewsWire, February 2020
  • "FOIA: Keeping Information Confidential," Project Finance NewsWire, August 2019
  • "DOE Loan Guarantee Program: New Rules," Project Finance NewsWire, December 2016
  • "World Bank Guarantees for Private Projects," Project Finance NewsWire, April 2016
  • "More US Loan Guarantees for Distributed Generation," Project Finance NewsWire, September 2015
  • "DOE Nuclear Loan Guarantees: Part Deux," Project Finance NewsWire, November 2014
  • "DOE Window Reopens for Renewable Energy Loan Guarantees," Project Finance NewsWire, September 2014
  • "DOE Reopens for Renewable Energy Loan Guarantees," Project Finance Newswire, April 2014
  • "Power Africa: Market Reactions to the Obama Initiative: Ethiopia, Ghana, Kenya, Liberia, Nigeria and Tanzania," Project Finance NewsWire, December 2013
  • "Powering Africa," Project Finance NewsWire, August 2013
  • "DOE Loan Guarantees for Advanced Fossil Fuels: They’re Back!," Project Finance NewsWire, August 2013
  • "Federal Loan Guarantees for Projects in Rural Areas," Project Finance NewsWire, August 2013
  • "Feed-In Tariff Insurance," Project Finance NewsWire, November 2012
  • "USDA Loan Guarantees: A Viable Alternative for Renewable Energy Projects?," Project Finance Newswire, March 2011
  • "DOE Loan Guarantee Update; Negotiations with the US Department of Energy over loan guarantees for innovative and renewable energy projects have been moving much faster," Project Finance Newswire, January 2011
  • "Next Generation Vehicles: Opportunities and Obstacles," Bloomberg Law Reports, November 8, 2010
  • "US Department of Energy Moves on Loan Guarantees," Project Finance Newswire, February 2010
  • "DOE Moves on Loan Guarantees," Project Finance NewsWire, February 2010
  • "DOE’s Open Window for Loan Guarantees for Conventional Renewable Energy Generation Projects," Project Finance NewsWire, October 2009
  • "DOE Loan Guarantee Program Developments," Project Finance NewsWire, August 2009
  • "Financing Renewable Energy Projects After the Stimulus," Project Finance NewsWire, April 2009
  • "Heavy Demand for DOE Loan Guarantees," Project Finance NewsWire, November 2008
  • "A BIT of Insurance," International Political Risk, Moran, West and Martin, editors, The World Bank Group, 2008
  • "Tactics When Caught in an Expropriation," Project Finance NewsWire, April 2007
  • "The Dabhol Power Project Settlement: What Happened and How?," Infrastructure Journal, December 2005
  • "PRI and the Rise (and Fall?) of Private Investment in Public Infrastructure," Privatising Development: Transnational Law, Infrastructure and Human Rights, Martinus Nijhoff Publishers, 2005
  • "Tales from the Dark Side: Lessons Learned from Troubled Investments, International Political Risk Management: Looking to the Future," The World Bank Group, 2005
  • "Political Risk Insurance and Project Workouts, Cross-Border Debt Restructurings," Euromoney, 2005
  • "The Next Frontier: Subsovereign Projects," Project Finance NewsWire, June 2004
  • "Managing Political Risks in Emerging Market Investment," The Transnational Lawyer, 2004
  • "Help for Projects in Developing Countries," Project Finance NewsWire, October 2003
  • "The Rise (and Fall) of Private Investment in Public Infrastructure," International Political Risk Management: The Brave New World, The World Bank, 2003
  • Co-author, "Political Risk Coverage: What’s New?," Project Finance NewsWire, December 2001
  • "Spotlight on Political Risk Insurance," Project Finance NewsWire, October 2001
  • "New Product For Devaluation Risk," Project Finance NewsWire, June 2001
  • "The Multiple Pledge-of-Shares Problem: Report of a Little Progress, International Political Risk Management: Exploring New Frontiers," The World Bank, 2001

Ken's most recent speaking engagements include:

  • Panelist, "Guidelines to Government forScaling-up Renewable Energy Projects," EnergyNet Powering Africa Conference, Miami, FL, February 2020
  • Panelist, "Frontier Markets and the BUILD Act," NY Society of CFAs, New York, NY, December 2019
  • Keynote, Millennium Challenge Corporation's "MCC College," September 2017
  • Speaker, "Financing Private Sector Renewable Energy Projects," in the World Bank's Legal and Judicial Development Week program, Washington, D.C., December 2016
  • Panelist "Step-in Rights in Project Financings," International Bar Association Annual Conference, Washington, DC, September 2016
  • Panelist "Innovative Financing Techniques for Renewable Energy Projects," conference sponsored by Siemens Financial Services and Massachusetts Institute of Technology, Cambridge, MA, March 2016
  • Panelist, "Public-Private Partnerships in Infrastructure Projects," Annual Meeting of the American Bar Association's Section on International Law, New York, April 15, 2016
  • Panelist, “Investing in Infrastructure, Doing Business in and with Emerging Markets,” Practising Law Institute, New York, July 9, 2015
  • 2015 LAC Workshop, International Finance Corporation, Buenos Aires, April 28-29, 2015
  • Panelist, “Products, Policies and Underwriting Considerations in a Volatile World,” TFX Washington: Agency and Project Finance, Washington, DC, April 22, 2015
  • Turkey Infrastructure and Energy Finance Seminar, London, May 29, 2014
  • Moderator, “The Arab Spring: Dawn or Sunset for MENA Project Financings,” Focus on Emerging Markets: Energy Explosion, Washington, DC, January 10, 2013
  • Seminar on Multilateral Agency Project Finance and Political Risk Insurance, Istanbul, Turkey, March 20, 2012
  • Solar Power in Emerging Markets: A Tutorial, San Francisco, CA, December 7, 2011
  • Panel moderator, “U.S. Distributed Solar Markets: Outlook and Analysis,” Infocast's Distributed Solar West Summit, San Diego, CA, November 30, 2011
  • Second Annual Focus on Emerging Markets Conference, Washington, DC, November 16, 2011
  • Panel moderator, “Mexican Energy: New Developments in Renewable Energy, Independent Power Projects and Natural Gas Supply,” Platts 15th Annual Mexican Energy Conference, Houston, TX, November 15, 2011
  • Panelist, “DOE Loan Guarantee Program,” Infocast Solar Power Conference, Newark, NJ, June 10, 2011
  • Speaker and panelist, “DOE Loan Guarantee Program,” Energy Bar Association's Annual Meeting, Washington, DC, December 9, 2010
  • Moderator, “Changing Perceptions of Risk in the Aftermath of the Financial Crisis,” Seventh Biennial MIGA-Georgetown Symposium on International Political Risk Management, Washington, DC, October 28, 2010
  • Chairman, Kyrgyz Opportunities Forum 2: Stabilizing Today, Prospering Tomorrow, with H.E. Roza Otunbayeva, President of the Kyrgyz Republic, Washington, DC, September 23, 2010
  • Panelist, KPMG Conference on Solar Energy, Jersey City, NJ, September 22, 2010
  • “What Makes Green Energy Different," Focus on Emerging Markets, Washington, DC, September 16, 2010
  • Speaker and Moderator, “Negotiating the DOE Loan Guarantee Process,” Infocast's 4th Annual Carbon Capture & Sequestration Summit 2010, Washington, DC, July 13, 2010
  • Moderator, DOE Loan Guarantee Program, Infocast Conference, Washington, DC, March 29, 2010
  • Speaker, “Status Report - The Loan Guarantee Program,” Infocast’s Projects and Money Summit, New Orleans, LA, January 10, 2010
  • Moderator and panelist, “Thin Film Finance and Legislation,” Thin Film Summit, San Francisco, CA, December 1-2, 2009
  • Moderator and panelist, “Using Loan Guarantees in Renewable Energy Finance,” Infocast Renewable Energy Summit, Washington, DC, November 10, 2009
  • Panelist, “DOE Loan Guarantees - The Window to Apply for Guarantees for Mainstream Renewable Energy Projects is Open,” Infocast Webinar, October 15, 2009
  • Panelist, “$30b DOE Loan Guarantee Rounds 3 &4 SOLICITATIONS - Application Procedures and Strategies for Commercial Energy Efficiency,” Alternative Energy, Advanced T&D and Transmission Infrastructure Projects, Infocast Webinar, August 19, 2009
  • Webinar on the DOE Loan Guarantee Program sponsored by the Solar Energy Industries Association, August 4, 2009
  • Webinar on the DOE Loan Guarantee Program sponsored by the American Wind Energy Association, July 21, 2009
  • Panelist, “The New Energy Financing Mechanisms Created by ARRA--Status and Outlook for Game-Changing Structures,” Infocast Webinar, June 18, 2009
  • Program moderator, First Annual OPIC Investor Conference, May 19, 2009
  • DOE Loan Guarantee Program Update, American Wind Energy Conference, Chicago, IL, May 6, 2009
  • Panelist, “Aftermath of the Dabhol Settlement,” International Bar Association conference on International Project Finance, Washington, DC, April 24, 2009
  • DOE Loan Guarantee Program: Issues and Update, Nuclear Energy Institute’s annual meeting of the Lawyers’ Committee, Washington, DC, March 3, 2009
  • Panelist, DOE Loan Guarantee Webinar, Infocast Webinar, March 5, 2009
  • Panelist, “How the Stimulus Bill Will Affect the Market: Opportunities - New Projects, New Sources of Money,” Webinar, February 19, 2009
  • Speaker, “Briefing on the Economic Stimulus Bill Moving through Congress,” Infocast Webinar, Jan. 30, 2009
  • Commentator, “Emerging Issues, Opportunities and Challenges for the Political Risk Insurance Industry,” MIGA-Georgetown Symposium Washington, DC, December 4, 2008
  • Panelist, “Project Finance – Private Perspectives,” Egypt-U.S. Finance Conference, Cairo, Egypt, November 12, 2008
  • Panelist, “Petroleum Politics: The Squeeze on Foreign Operators,” LatAm Oil and Gas Congress, Houston, TX, October 15-17, 2008
  • Panelist, “Private Investment in Power Projects,” US-Africa Infrastructure Conference, Washington, DC, October 7, 2008
  • Speaker, “DOE Loan Guarantee Program Update,” 2008 Project Finance Conference, Amelia Island, FL, May 15-16, 2008
  • Panelist, “Euro 2012: Infrastructure Needs and Investment Opportunities,” Ukrainian Institute of America, New York, NY, March 17-18, 2008
  • EDC Legal Symposium, sponsored by Canada’s Economic Development Corporation, Ottawa, Ontario, Canada, January 18-19, 2008
  • “Emerging Political Risks and Options in the Southern Cone,” Association of International Petroleum Negotiators Regional Conference, Santiago, Chile, November 12, 2007
  • “Insuring Political Risk in Oil and Gas Projects,” Marsh’s Oil, Gas and Energy Investments Seminar, Houston, TX, June 19, 2007
  • “Update on the DOE Loan Guaranty Program for Novel Technologies,” Chadbourne Global Energy and Finance Conference, Deer Valley, UT, June 14-15, 2007
  • Moderator, “Risk Mitigation Case Studies from the MDB's Private Sector Arms: Emerging Markets and Public-Private Partnerships,” Banking on Development Conference 2007, The U.S. Commercial Service and the World Trade Center of New Orleans, New Orleans, LA, March 16, 2007
  • Moderator, “Global Sourcing and the Global Lawyer,” Georgetown Journal of International Law 2007 Symposium, Washington, DC, January 24, 2007
  • “Bolivia and Beyond – Breach of Contract and International Expropriation,” American Society of International Law Seminar, Washington, DC, May 2006
  • “Lessons from Recent PRI Claims, Near Claims and Non-Claims," Seventh Annual Structured Trade & Export Finance in the Americas, Miami, FL, February 23-24, 2005
  • “Tales from the Dark Side -- Political Risk Lessons Learned from Recent Investment Disasters,” International Political Risk Management: Looking to the Future: Identifying and Managing the Critical Challenges Facing the Market, Washington, DC, November 12, 2004
  • “ADB-IBC Political Risk,” Project/Trade Finance & Export Credit Summit 2004, Shanghai, People's Republic of China, November 2004
  • “Increasing Capital Flows to Africa,” Corporate Council on Africa and U.S. Export-Import Bank Conference, Johannesburg, South Africa, September 2004
  • “Why Your Arbitration Agreement Matters: Anticipating Disputes in International Transactions,” DC Bar Program, Washington, DC, May 2004
  • Middle East Roundtable, Export-Import Bank of the United States, Washington, DC, April 2004
  • United Nations Business Council’s Workshop on Emerging Market Finance, New York, NY, March 2004
  • Panelist, Sixth Annual Structured Trade and Export Finance in the Americas Conference, Miami, FL, February 2004
  • “Issues in Structuring International Project Financings,” Seoul, South Korea, November 7, 2003
  • “Tales from the Dark Side: Lessons Learned from Recent Investment Disputes,” Fourth Annual Political Risk, Trade Credit & Project Finance Summit, Manila, Philippines, November 3, 2003
  • “Legal Issues in Structured Export Finance in the Americas,” Fifth Annual Structured Trade and Export Finance in the Americas Conference, Miami, FL, February 26, 2003
  • “The Role of the Multilateral and U.S. Financial Agencies,” The Decline of Financial Capital in Latin America, New York, NY, November 2002
  • “International Political Risk Management: The Brave New World,” MIGA-Georgetown University Symposium, Washington, DC, October 25, 2002
  • Appointed to the Advisory Committee of the Millennium Challenge Corporation, 2016 - 2018
  • Associate General Counsel for Investment, Assistant General Counsel, Senior Commercial Counsel and Counsel, Overseas Private Investment Corporation (OPIC), 1986 - 1995
  • General Counsel, Export-Import Bank of the United States, 1995 - 1999
  • Professorial Lecturer, the School of Advanced International Studies at Johns Hopkins University, 2000 - present
  • Adjunct Professor:
    • Georgetown University Law Center, 1991 - present
    • Boston University Law School, 1992 - 1999
    • National Law Center at The George Washington University, 1992 - 1994
    • Fletcher School of Law and Diplomacy at Tufts University, 1993
  • Member: American Bar Association; American Society of International Law; American Economic Association; Washington Foreign Law Society (president, 2004 - 2005)