Thomas M. Ingoldsby is a transactional lawyer whose practice focuses on the development and financing of energy projects and the negotiation of long-term power supply arrangements. He has represented a broad spectrum of the energy industry in the structuring and negotiation of the commercial and financial terms underlying large generation projects and power purchase agreements.

Mr. Ingoldsby’s clients have been wholesale power purchasers, lenders, and large industrials who have been operating in markets in various stages of deregulation. He has assisted clients in the evaluation of proposals for generation projects and long term power purchase agreements, and he has negotiated energy supply agreements, financing documents, and the inter-party arrangements for these projects.

In recent years, an important component of Mr. Ingoldsby’s work has been the development of project capital structures and credit terms consistent with clients’ capabilities and the requirements of the financial and energy markets for major energy projects. He has also assisted several developers in the gaming industry in the structuring and negotiation of comprehensive energy programs to meet the needs of multi-use projects. When clients have been involved in troubled projects, Mr. Ingoldsby has assisted them in evaluating the available options and in negotiating the terms of the workout or other arrangements.

Experience

• Represented four clients in the negotiation of a 20-year wholesale full requirements contract with cost of service rates
• Served as counsel to a cooperative in a five-year full requirements power purchase agreement with allowances for hydro-power allocations and different credit terms for the seller and buyer
• Represented purchasers under a $1.5 billion 25-year power purchase agreement supporting the project financing of the renovation of a generation plant
• Advised an electric utility service organization in the development of credit provisions to be offered as an alternative to those in the EEI Master Power Purchase and Sale Agreement
• Consulted with buyers under power purchase agreements with sellers experiencing credit problems regarding the commercial and legal alternatives available to them
• Assisted developers in the negotiation of contracts with utilities and service providers for the delivery of electricity and other energy services to casinos and associated hotels, retail malls, convention centers and theatres

Previous Experience

Prior to joining Schiff Hardin, Mr. Ingoldsby was a partner at Sullivan & Worcester LLP. Earlier, he was a member of Verner, Liipfert, Bernhard, McPherson and Hand.

Before entering into private practice, Mr. Ingoldsby was a trial attorney with the Office of Chief Counsel of the Internal Revenue Service (IRS) in Denver, Colorado.