Sharaf Islam
Partner
Debt Finance
Overview
Sharaf Islam is a debt finance partner in the New York office of Kirkland & Ellis LLP. Sharaf represents sponsors, developers, financial institutions, institutional investors and other creditors in various types of finance transactions, with an emphasis on energy and infrastructure projects.
Experience
Representative Matters
While at Kirkland, Sharaf's representative matters have included:
- Brookfield Infrastructure Partners L.P. on its definitive agreement with Intel Corp. to jointly fund Intel’s under-construction semiconductor fabrication facility with Brookfield investing up to $15 billion for a 49% stake in Intel’s manufacturing expansion.
- Global Infrastructure Partners in its investment in Rio Grande LNG’s $18.4 billion Phase I Development.
- Blackstone Energy Partners III L.P. and Blackstone Capital Partners VIII L.P., and their portfolio companies Transmission Developers, Inc., TDI-USA Holdings LLC and CHPE LLC, in connection with the development and construction financing of the Champlain Hudson Power Express, an approximately 339-mile fully-buried transmission line that will deliver approximately 1,250 MW of clean and renewable hydropower from Québec to New York City.
- Blackstone Capital Partners VII and Blackstone Energy Partners II, and their portfolio companies Kindle Energy, Magnolia Power Holdings and Magnolia Power, in the $580 million development and construction financing of the Magnolia Power Generating Station, a 725 MW nameplate capacity natural gas-fired and hydrogen-capable combined-cycle electric generating facility to be constructed in Iberville Parish, Louisiana.
- Orion Infrastructure Capital on its investment in Heliene, Inc. via a senior secured debt facility and purchase of preferred equity, pursuant to which Heliene intends to fund its expansion plans and generate Section 45X advanced manufacturing tax credits and other IRA-based tax credit add-ons from its U.S. manufacturing facility.
- ArcLight Capital Partners, a leading infrastructure investment firm focused on sustainable infrastructure, in connection with multiple transactions, including:
- its joint venture with affiliates of Celsius Shipping ApS to fund and procure the construction of, own, operate, lease and charter two newly built LNG carriers and (ii) on the services agreements entered into with affiliates of Celsius Shipping ApS, the shipbuilding contracts entered into with China Merchants Heavy Industry (Jiangsu) Co., Ltd., and the charterparty agreements entered into with Clearlake Shipping Pte. Ltd. (a subsidiary of Gunvor Group) and in connection with the financing arrangements for the LNG carriers; and
- its agreement to acquire and financing of Duke Energy’s (NYSE: DUK) commercial distributed generation business (consisting of a portfolio of operating and development assets and an O&M portfolio, as well as distributed fuel cell projects managed by Bloom Energy), inclusive of non-controlling tax equity interests.
- Oak View Group, LLC, a global venue development, advisory and investment company for the sports and live entertainment industries, and its affiliates in connection with multiple transactions, including:
- the cross-border bank/bond construction financing for the development of Co-op Live, a 23,500 seat multipurpose entertainment arena to be built in Manchester, England; and
- a refinancing of the construction loan for the development of Acrisure Arena, a multipurpose indoor arena with a capacity of 11,000, located in Riverside County, California, and home to the AHL’s Coachella Valley Firebirds.
- The acquiring consortium and KKR, a leading global investment firm, in the financing of the consortium’s approximately $15 billion acquisition of all outstanding shares of common stock of CyrusOne Inc. (NASDAQ:CONE), a premier global data center REIT.
- Ontario Teachers’ Pension Plan in two related transactions involving a 2,520 megawatt renewable energy portfolio operated by NextEra consisting of 13 US based utility-scale wind and solar assets, three of which include battery storage.
- TPG Rise Climate in its investment of $750 million in Intersect Power.
- CleanCapital, an industry-leading clean energy investment platform, on:
- its acquisition of BQ Energy Holdco, a Hudson Valley-based developer of solar projects on landfill and brownfield sites with more than 60 projects spanning 16 states; and
- a credit facility of up to $200 million to support its pipeline of distributed solar and energy storage projects.
Prior to joining Kirkland, Sharaf was involved in the following transactions:
- The project company, UTE GNA I Geração de Energia S.A. (GNA I) (a joint venture formed by Prumo Logistica, BP, Siemens and SPIC Brasil), in connection with the approximately BRL1.8 billion refinancing of GNA I’s LNG-to-Power project at Açu Port in São João da Barra, Brazil.
- MUFG Union Bank, N.A., BNP Paribas, Mizuho Bank, Ltd. and Crédit Agricole Corporate and Investment Bank as lenders and arrangers in connection with the $450 million refinancing provided to CPV Maryland, LLC which owns the St. Charles Energy Center (a 745 MW natural gas-fired power plant located in Charles County, Maryland).
- Gevo, Inc. in connection with the approximately $68 million green bond offering and related letter of credit facility to finance the construction of its RNG project in northwest Iowa (expected to generate 355,000 MMBtu of RNG once fully operational).
- Arrangers and lenders in connection with the $231 million acquisition financing of a leading domestic marine terminal.
- Arrangers and lenders in connection with the approximately $140 million construction financing and tax equity bridge financing of an approximately 160 MW portfolio of two wind farms in New York.
- Sponsor and project company in connection with the approximately $380 million construction financing and $75 million tax equity financing of an approximately 300 MW solar power plant in Texas.
- A leading domestic manufacturer of building materials in connection with the development and tax equity financing of a portfolio of residential solar projects.
- Arrangers and lenders in connection with the $1.015 billion acquisition financing and working capital facility financing of the 1,160 MW Patriot and Liberty combined-cycle gas fired power plants in Pennsylvania by the Carlyle Group and EIG Global Energy Partners.
- HSBC Bank USA N.A. in connection with the approximately $30 million credit facility guaranteed by Finnvera plc, Finland’s export credit agency, to YPF Energía Eléctrica S.A., a power and renewable energy company operating a 58 MW gas-fired power plant in Argentina.
- The arranger and private placement investors in connection with the $325 million bond facility refinancing the senior notes of a shareholder of the Colonial Pipeline.
- The sponsor, Mainstream Renewable Power Ltd., and project companies in connection with the approximately $580 million construction financing of the approximately 571 MW Cóndor portfolio in Chile (comprised of three wind farms and one solar power plant).
- A leading North American infrastructure fund in connection with the approximately $140 million term loan and working capital facility financing of its acquisition of a leading demand-side energy management company.
- Sponsor and Borrower in connection with the approximately $171 million refinancing facility for a 161 MW hydropower plant in Chile.
- Lenders in connection with the approximately $45 million bridge financing facility for a 60 MW solar power plant in Mexico.
- The sponsors, Mitsui & Co. and ACS Group, and project company in connection with the approximately $560 million construction financing of a desalinization plant and associated infrastructure in Chile.
Prior Experience
Milbank LLP
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Credentials
Admissions & Qualifications
- New York
Education
- Duke University School of LawJ.D.2017Articles Editor, Duke Journal of Comparative and International Law
- City University of New York, Baruch CollegeB.B.A., Finance and Investmentssumma cum laude2013