On October 5, 2023, Warwick Carbon Solutions (WCS) subsidiary Broadwing Energy announced that it signed formal agreements to build a first-of-its-kind power and steam cogeneration facility in Decatur, Illinois. WCS will build and operate a 360MW cogeneration plant with carbon capture and sequestration for the provision of integrated clean energy and green steam to Archer-Daniel-Midland's (ADM's) Decatur processing operations. Wilson Sonsini Goodrich & Rosati serves as lead project development and finance counsel to WCS in the transaction, having negotiated power and steam supply, carbon transfer and management services, FEED, and related real estate agreements, advised on interconnection and regulatory matters, are preparing to negotiate EPC agreement and financing arrangements for the project with 45Q investment tax credits and long-term debt. This may be one of the largest industrial decarbonization projects ever developed and financed in the U.S. with capacity to permanently sequester more than two million tons of CO2 annually.

The Wilson Sonsini team that advised WCS on the transaction was led by Todd Glass, Andy Braff, Karli McConnell, Kate Ashbolt, Jim McCann, Sierra Bunnell, Nic Gladd, Nadia Senter, Nicole Gambino, and Brandon King.

For more information, please see the WCS news release. Additional coverage can be found on WorldConstruction Network.