Dickson C.Chin

Partner

New York + 1.212.326.7893

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Dickson Chin assists clients with finding straightforward and innovative solutions to challenging problems. He has over 20 years' experience representing investors, financial institutions, utilities, developers, energy marketers, commercial users, and other market participants in a range of energy transactions. His practice encompasses energy marketing and trading, project finance and development, construction, joint ventures, and mergers and acquisitions.

His experience with renewable energy and carbon transactions includes wind (onshore and offshore), solar, battery storage, biomass, waste to energy, voluntary and compliance carbon credits, carbon capture and sequestration, fuel cells, demand response, and microgrids. He was engaged by the International Swaps and Derivatives Association (ISDA) to prepare the U.S. Renewable Energy Certificate Annex and was a lead counsel on the ISDA working group that prepared the Voluntary Carbon Credits Definitions. He possesses distinctive experience advising on new business and product formation in innovative carbon and renewables ventures.

Dickson also co-coordinates the global derivatives lawyers of the Firm. He advises clients on financial products and derivatives for various assets classes (including commodities, interest rates, and foreign exchange), intercreditor issues, bankruptcy, and regulatory considerations related to swap transactions, including compliance under the Dodd-Frank Act.

In addition he represents clients on blockchain and other distributed ledger technology and smart contracts. He is the author of a chapter on smart contracts for an American Bar Association book on blockchain and a contributor to the ISDA Legal Guidelines for Smart Derivatives Contracts and has spoken at the Congressional Blockchain Caucus.

He is a frequent speaker on industry topics and participates in the development of standardized agreements for ISDA, the Edison Electric Institute (EEI), and the International Energy Credit Association (IECA).

Experience

  • ISDA publishes ISDA U.S. Renewable Energy Certificate AnnexJones Day advised the International Swaps and Derivatives Association, Inc. (ISDA) in the development of the ISDA U.S. Renewable Energy Certificate Annex (REC Annex) to enable market participants to efficiently sell and purchase renewable energy certificates (RECs) under the ISDA Master Agreement.
  • Procter & Gamble enters into two 15-year virtual power purchase agreements with EDPR for solar and wind energy in EUJones Day advised The Procter Gamble Company in entering into two 15-year virtual power purchase agreements (VPPAs) to purchase electricity and guarantees of origin (GOs) from solar and wind energy projects in the EU owned by a subsidiary of renewable energy developer EDP Renováveis, S.A. (EDPR).
  • CNX and Newlight announce strategic agreement to capture methane emissions for production of Aircarbon®Jones Day advised CNX Resources Corporation in a 15-year agreement entered with Newlight Technologies, Inc. to capture and utilize methane emissions for the production of Aircarbon®, a naturally-occurring molecule also known as PHB that replaces plastic but is carbon-negative and biologically degrades in natural environments.
  • Financial institution seeks advice on rollout of blockchain-based energy platformJones Day is advising a financial institution on the deployment of a blockchain-based energy platform.
  • Digital currency platform obtains revolving credit facilityJones Day represented a digital currency platform in connection with an asset-based revolving loan secured by and tied to the value of bitcoin collateral.
  • Targa Resources Partners executes long-term power purchase agreement to enable financing of 160 MWac project to procure solar energy to advance its long term sustainability strategy to reduce emissions intensityJones Day advised Targa Resources Partners LP on a long-term power purchase agreement to source renewable electricity from Concho Valley Solar, LLC to enable financing of a 160 MWac project to provide solar energy to Targa’s natural gas processing infrastructure in the Permian Basin in West Texas to advance its long term sustainability strategy to reduce emissions intensity.
  • Vitol signs retail energy supply agreements with Mexican Qualified SuppliersJones Day New York and Mexico City offices advised Vitol Electricidad de Mexico, S. de R.L. de C.V. on lock-box security package and retail energy supply agreements with Mexican Qualified Suppliers.
  • General Mills executes virtual power purchase agreement with RES Cactus Flats Wind Energy to purchase financial electricity and renewable energy creditsJones Day represented General Mills Operations, LLC in executing a virtual power purchase agreement/wind energy commodity swap with RES Cactus Flats Wind Energy, LLC, an affiliate of RES America Developments Inc., to purchase financial electricity and renewable energy credits for a 15-year term from an anticipated 148.35 megawatt wind energy project in Texas.
  • Procter & Gamble executes commodity swap with EDF Renewable Energy to purchase financial electricity and renewable energy creditsJones Day represented Procter & Gamble in executing a virtual power purchase agreement/wind energy commodity swap with EDF Renewable Energy, Inc. to purchase financial electricity and renewable energy credits from an approximately 118 MW wind energy project in Texas.
  • Eldridge Industries provides senior secured term loan credit facility to Digital Currency Group, Inc.Jones Day advised Eldridge Industries, LLC, as administrative agent and lead arranger, on a senior secured term loan credit facility provided to Digital Currency Group, Inc. (“DCG”).
  • MassMutual and affiliate Great American Life Insurance Company enter into financing arrangement with others to purchase approximately $800 million of asset-backed notes to fund acquisition of natural gas assets located in TexasJones Day represented Massachusetts Mutual Life Insurance Company and Great American Life Insurance Company in connection with the issuance and purchase of approximately $800 million of asset-backed notes and certificates, the proceeds of which are being used to acquire natural gas assets located in Texas.
  • Alterna Core Capital Assets Fund II acquires stake in Selkirk Cogen PartnersJones Day represented Alterna Core Capital Assets Fund II, L.P. in connection with its acquisition of a 41.3% stake in Selkirk Cogen Partners L.P., the owner of a 432MW natural gas-fired combined-cycle cogeneration facility located near Albany, NY, from a subsidiary of investment funds managed by Ares EIF Management, LLC.
  • Stewart & Stevenson businesses sold to Kirby Corporation for $756.5 millionJones Day advised Stewart & Stevenson LLC in the sale of its businesses and assets to Kirby Corporation for $756.5 million.
  • Procter & Gamble drafts joint development framework agreement for biomass combined heat and power projectJones Day advised The Procter & Gamble Company regarding a joint development framework agreement for a biomass combined heat and power (CHP) project to be developed on-site at P&G's West Thurrock manufacturing facility in London, England.
  • Vitol launches private electricity procurement auctionJones Day New York and Mexico City offices advised Vitol Electricidad de Mexico, S. de R.L. de C.V. on a private electricity procurement auction launched in Mexico to purchase and sell capacity, energy, clean energy certificates (CELs) and congestion differentials among renewable power generators, suppliers, marketers and end users.
  • Fortune 500 company seeks advice involving blockchain service under EU's GDPRJones Day is advising a Fortune 500 company on a software services agreement with a blockchain service provider for compliance under the EU General Data Protection Regulation (GDPR).
  • Oklahoma Gas and Electric negotiates construction contracts for Mustang Natural Gas Power PlantJones Day advised Oklahoma Gas and Electric Company on construction contracts for the Mustang Natural Gas Power Plant.
  • Acciona Energy completes financing for San Roman Wind FarmJones Day advised Acciona, S.A. ("Acciona") on a wind energy swap and related intercreditor matters with Bank of America Merrill Lynch for the 93 MW San Roman Wind Farm which is currently being installed in Texas.
  • Itron acquires Comverge for approximately $100 millionJones Day advised Itron, Inc. (NASDAQ: ITRI) in its approximately $100 million cash acquisition of Comverge, Inc. by way of the purchase of its parent company, Peak Holding Corp.
  • Inyenyeri executes agreement with World Bank's Carbon Fund for purchase of carbon creditsJones Day advised Inyenyeri, Inc. on a Certified Emission Reductions Purchase Agreement with the World Bank's Carbon Fund of the Carbon Initiative for Development.
  • International financial conglomerate negotiates novation agreement, 10-year energy hedge, 10-year RECs transaction and intercreditor agreementInternational financial conglomerate negotiates novation agreement, 10-year energy hedge, 10-year RECs transaction and intercreditor agreement in connection with the refinancing of a New York wind project.
  • Richland-Stryker, a unit of Quintana Minerals Corporation, acquires two gas-fired peaking facilities from First EnergyJones Day advised Quintana, an investment partnership based in Texas, through its subsidiary, Richland-Stryker Generation LLC, in the acquisition of two gas-fired peaking facilities, the Richland Generation Station and the Stryker Generation Station, from FirstEnergy Corp.
  • Midwest Generation negotiates EPC and equipment supply agreements designed to control emissions of NOx, SOx and particulates at multiple coal-fired generating unitsJones Day represented Midwest Generation LLC, the owner of 13 coal-fired generating units, in connection with the negotiation of EPC and equipment supply agreements designed for an environmental retrofit program implementing an agreement with the State of Illinois for the installation of facilities to control emissions of NOx, SOx and particulates.
  • Procter & Gamble purchases steam from Constellation Energy to power one of P&G’s largest U.S. manufacturing facilitiesJones Day represented The Procter & Gamble Company ("P&G") in an agreement with Constellation Energy to purchase steam for a 20-year term from a 50 MW biomass plant that will be one of the largest biomass renewable energy plants in the U.S.
  • Lincoln Renewable Energy proposes sale of output of 10 MW phase of one of several photovoltaic projectsJones Day represents Lincoln Renewable Energy in its proposed sale of the output of a 10 MW phase of one of several photovoltaic projects under development, which will be subject to an option in favor of the buyer to purchase the selected project phase upon commencement of commercial operation.
  • XEMC New Energy acquires majority interest and financing of 25 MW offshore wind projectJones Day is advising XEMC NE, a Chinese state-owned company, in the pending acquisition of a majority interest and financing of a 25 MW offshore wind project developed by Fishermen's Energy LLC in New Jersey state waters.
  • Global diversified financial services company acquires substantially all of the commodity business of multinational financial services companyJones Day advised a global diversified financial services company in the acquisition of substantially all of the commodity business of a multinational financial services company.
  • Major natural gas producer develops natural gas powered electric energy generation projectsJones Day advised major natural gas producer on joint development agreement for natural gas powered electric energy generation projects in the United States.
  • Marathon Petroleum purchases BP's Texas City refinery and related logistics and marketing assetsJones Day advised Marathon Petroleum Corporation (MPC) in its purchase of BP's Texas City refinery, three intrastate NGL pipelines originating at the refinery, an allocation of BP's Colonial Pipeline Company shipper history, four terminals, retail marketing contract assignments for approximately 1,200 branded sites and a 1,040 megawatt cogeneration (cogen) facility for a base purchase price of $598 million, plus inventories estimated at $1.2 billion and an earnout provision under which MPC could pay up to an additional $700 million over six years, subject to certain conditions.
  • Electricité de France negotiates settlement with GMXRJones Day represented Electricité de France (EDF) with regard to its exposure to GMXR, Inc., an exploration and production energy company that filed chapter 11 in Oklahoma City, Oklahoma.
  • EDF negotiates cross-border and cross-affiliate Master Netting AgreementJones Day represented Electricité de France (EDF) in negotiating a cross-border and cross-affiliate Master Netting Agreement in connection with gas swap under which EDF will deliver 0.5 billion cubic metres of gas per year to Gazprom in the United States for five years in exchange for Gazprom delivering the same volumes to EDF in the United Kingdom.
  • Global financial services firm negotiates proposed ISDA Master Agreement and intercreditor arrangementsGlobal financial services firm negotiates proposed ISDA Master Agreement and intercreditor arrangements in connection with multiple nuclear facilities.
  • Major wind energy project developer negotiates commodity exchange and heat rate call optionsJones Day advised a major wind energy project developer in the negotiation and documentation of commodity exchange option and heat rate call option for natural gas fueled facility in the Pacific Northwest.
  • Leading global financial services firm purchases carbon offsets to meet voluntary greenhouse gas emission targetsJones Day advises a leading global financial services firm on the purchase of carbon offsets to meet voluntary greenhouse gas emission targets.
  • Major wind energy project developer develops credit sleeve arrangements in support of sales of renewable energy certificates from a portfolio of wind energy projectsJones Day assists major wind energy project developer in the design and development of credit sleeve arrangements in support of sales of renewable energy certificates from a portfolio of wind energy projects.
  • Major wind energy project developer negotiates spot and forward sales of renewable energy certificatesJones Day represents a major wind energy project developer in the negotiation and documentation of spot and forward sales of renewable energy certificates in compliance and voluntary markets from a portfolio of wind energy projects.
  • Leading global financial services firm submits RFP for retail electricity supply in various jurisdictions and negotiated and documented transactions for purchase of total requirements for retail electricityJones Day advised a leading global financial services firm on a RFP process for retail electricity supply in various jurisdictions and negotiated and documented transactions for purchase of total requirements for retail electricity.
  • Leading global consumer products company develops biogas projects for multiple manufacturing plantsJones Day advised leading global consumer products company on development of biogas projects for multiple manufacturing plants.
  • Solar energy company installs integrated photovoltaic system for hotelJones Day advised solar energy company on design and installation of building integrated photovoltaic system for hotel.
  • Integrated energy company purchases and sells renewable identification numbers (RINs)Jones Day advised an integrated energy company on drafting a form Master Agreement for the purchase and sale of renewable identification numbers (RINs).
  • Energy fund negotiates 20-year gas transportation agreement in connection with sale of pipelineEnergy fund negotiates 20-year gas transportation agreement in connection with sale of pipeline.
  • Leading global oil & gas company develops form transaction documents for new over-the-counter coal trading strategyJones Day assisted a leading global oil & gas company in the development of form transaction documents for new over-the-counter coal trading strategy.
  • SHV Energy acquires propane businesses of American Midstream Partners for $170 millionJones Day advised SHV Energy N.V. in the $170 million acquisition of the propane businesses (Pinnacle Propane, LLC, Alliant Gas, LLC and Pinnacle Propane Express, LLC) of American Midstream Partners, LP (“AMID”).
  • DPL implements contractual arrangements for coal portfolio management and procurement strategy and related credit sleeveJones Day assisted The Dayton Power and Light Company in the design and implementation of contractual arrangements for coal portfolio management and procurement strategy and related credit sleeve with Merrill Lynch Commodities Inc.
  • Midwestern utility develops transaction documents for energy and natural gas trading platformJones Day assists Midwestern utility in the development of transaction documents for energy and natural gas trading platform and negotiation and documentation of master agreements with counterparties.
  • Landfill company develops joint venture waste-to-biogas projectJones Day advised a landfill company on a joint venture to develop waste-to-biogas project.
  • tØ.com launches initial coin offeringJones Day is advising tØ.com in connection with their launch of an initial coin offering.
    • View All

    March 2024 Commentary

    French Court Rules on Safe Harbor of Netting Agreements in Insolvency

    March 2024 Alert

    SEC Finalizes Climate Disclosure Rules

    February 2024 Alert

    Business Organizations Challenge California's Climate Change Disclosure Requirements as Unconstitutional

    January 2024 Commentary

    Proposed Guidance Clarifies "Foreign Entity of Concern" Restrictions for Clean Vehicle Credit

    December 2023 Commentary

    The CFTC Proposes "Guidance" for Derivatives Markets on Listing Voluntary Carbon Credit Derivatives

    October 2023 Handout

    ESG Roadmap: Real Impacts on Real Property and Infrastructure

    September 2023 Commentary

    California Emissions Bills: What Your Company Needs to Know

    SEPTEMBER 2023 Commentary

    CFTC Lacks Jurisdiction Over TRS on ETFs and Custom Baskets

    JULY 2023 Alert

    Germany Launches EUR 50 Billion Funding Program for Decarbonization of Heavy Industry

    July 2023 Commentary

    U.S. Treasury and OECD Lay Groundwork for Selling Clean Energy Tax Credits
    View All

    Additional Publications

    • September 2013
      Commercial Outward-Facing Affiliates and the Definition of "Financial Entity", Futures & Derivatives Law Report, Vol. 33, Issue 8
    • September 2013
      Commercial Outward Facing Affiliates and the Definition of “Financial Entity"
    • September 2013
      Is an Energy Company Affiliate a "Financial Entity" under Dodd-Frank? Infrastructure
    • May 2013
      U.S. Offshore Wind Energy-Transitioning Towards Commercial Deployment, Wind Systems
    • April 23, 2013
      Potential Impact of the Dodd-Frank Act and Global Over-the Counter Derivatives Regulations, Westlaw Derivative Journal Derivatives, Vol. 19, Issue 11
    • November 26, 2012
      Economic Curtailment and its Potential Impact on Wind Energy Growth, Wind Systems

    Speaking Engagements

    • March 7, 2023
      Supporting the Transition to a Green Economy through Legal Documentation, ISDA ESG Forum
    • February 28, 2023
      ISDA Documentation for Environmental Trading
    • September 14, 2022
      Outlook on New and Future ISDA Environmental Trading Docs Version 2.0
    • May 12, 2022
      Documentation for ESG, ISDA Annual General Meeting
    • December 9, 2021
      ISDA Environmental Trading Docs Version 2.0
    • October 10, 2021
      REC Trading and Industry Standard Agreements, International Energy Credits Association (IECA)
    • December 10, 2019
      Smart Contracts: Technology & Legalities Come Together, Blockland
    • November 20, 2019
      Digital Assets in Derivatives Markets, ISDA Legal Technology and the Future of Derivatives Documentation
    • October 4, 2019
      Bank of England Colloquium on Sustainable Finance, Financial Markets Law Committee
    • June 27, 2019
      The Future of Clean Energy Transmission, New York Energy Consumers Council (NYECC)
    • May 23, 2019
      Smarts Contracts Roundtable, Congressional Blockchain Caucus
    • March 6, 2019
      Smart Derivatives Contracts: Contract or Code?, ISDA Smart Derivatives Contracts Symposium
    • November 29, 2018
      SciTech Focus on Blockchain: Smart Code and Smart Contracts, American Bar Association
    • November 8, 2018
      How Smart is a Smart Contract?, ISDA Technology Forum
    • October 2018
      Beyond the Basics of Blockchain: Current and Future Use Cases and Corresponding Regulatory Development, New York State Bar Association
    • September 20, 2018
      The Digital Fin-Tech Revolution Continues, 17th Annual Gas & Power Institute
    • March 8, 2018
      Blockchain Technology in the Energy Sector, 2018 WSPP Spring Operating Committee Meeting
    • May 25, 2017
      Derivatives Disputes: Litigating and arbitrating the ISDA Master Agreements
    • March 2016
      "Rea Life in the World of WSPP - Example Transactions Between Counterparties" - Western Systems Power Pool Operating Committee Meeting
    • March 3, 2016
      Standardizing Market Practices to Mitigate Risks - Tariffs and Master Agreements - Western Systems Power Pool Operating Committee Meeting
    • October 1, 2015
      EEI Master Agreement Training Webinar - Additional Provisions
    • February 25, 2015
      Distressed Energy: Risks and Opportunities, Loan Syndication and Trading Association (LSTA)
    • October 22, 2014
      Evolution of Manipulation Law: Traders Beware, Edison Electric Institute Webinar
    • June 25, 2014
      A Roundtable Discussion on Dodd-Frank Provisions, International Energy Credit Association (IECA)
    • October 17-18, 2013
      EEI CFTC Dodd-Frank Compliance Forum
    • December 10-11,2012
      EEI CFTC Dodd-Frank Compliance Forum: The Nuts and Bolts of Implementation
    • September 12, 2012
      EEI Contract Drafting Committee Event: Documentation Changes under Dodd-Frank
    • February 16, 2010
      Market Design of Allowances, Offsets and RECs
    • November 10, 2009
      Executive Roundtable Series: Update on Renewable Energy and Climate Change Initiatives
    • July 23, 2009
      Energy Roundtable: New Administration, New Economy, and New Opportunities
    • 2008
      Recent Cases and their Impact on the Energy Trading Business, Energy Bar Association
    • 2008
      Of REC's and Hedges - How Wind Power is Bought and sold, 1st Power and Alternative Energy Conference
    • 2006
      Public Power Credit Initiatives and Other Credit Developments, Edison Electric Institute
    • 2006
      Financial Performance Measures in Contracting with Public Power Entities, American Public Power Association Legal Seminar
    • 2005
      Let's Make a Deal - Basic Products, Price, and Delivery Points, etc., Edison Electric Institute
    • 2002
      User's Guide to the EEI Masters Netting Agreement, Edison Electric Institute

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