“Sarah Powell is a wizard on environmental matters.”
Client – Chambers Global 2016
Sarah uses her thorough understanding of evolving issues in environmental and energy law to provide clients with practical, concise advice. She works with clients – both directly and as a member of Davies’ transaction teams – to evaluate environmental and social risks in Canadian and international deals.
Mining, renewable energy and Indigenous issues are significant areas of focus. Sarah is also very successful at advocating before administrative tribunals regarding permitting for infrastructure, resource development and manufacturing projects.
Sarah is a member of our Management Committee. She is deeply involved in the development and reform of Canadian environmental law and has held many leadership roles in prominent legal and business organizations.
Syndicate of Underwriters
Acting for a syndicate of underwriters led by J.P. Morgan, BMO Capital Markets, Goldman Sachs & Co. LLC, RBC Capital Markets and Scotiabank on the US$2.2-billion cross-border initial public offering of subordinate voting shares and tangible equity units of GFL Environmental Inc., the fourth largest diversified environmental services company in North America. The offering is one of the largest IPOs in Canadian history.
Axium Infrastructure Inc.
Acted for Axium Infrastructure Inc. in its acquisition from Mitsubishi Corporation of a 50% interest in a portfolio of nine solar farms located in Ontario.
Birch Hill Equity Partners
Acted for Birch Hill Equity Partners in the $101.6-million acquisition and related financing of non-core midstream and power assets in Canada from AltaGas Ltd. and in the $63.4-million acquisition of a 13.3% interest in Tidewater Midstream and Infrastructure Ltd., a public company, from AltaGas.
Acted for Fortis Inc. and its subsidiary FortisOntario Inc. in connection with Ontario's largest First-Nations-led transmission project being undertaken by Wataynikaneyap Power LP, a partnership between 24 First Nations and private investors led by Fortis. This project was one of Lexpert's Top 10 deals of 2019.
Axium Infrastructure Inc. and The Manufacturers Life Insurance Company
Acted for Axium Infrastructure Inc. and The Manufacturers Life Insurance Company in their joint $1.4-billion acquisition of AltaGas Ltd.'s remaining 55% interest in three hydroelectric projects in northwest British Columbia: the 195 MW Forrest Kerr Hydroelectric Facility, the 66 MW McLymont Creek Hydroelectric Facility and the 16 MW Volcano Creek Hydroelectric Facility.
Fengate Capital Management
Acted for Fengate Capital Management in its acquisition of the Heartland Petrochemical Complex's Central Utility Block (CUB) cogeneration facility from Inter Pipeline Ltd. and the project financing for the development, construction and operation of the CUB.
Acted for the Michelin Group in its acquisition of Camso Inc., one of the global leaders in the design, manufacturing and distribution of off-road tires, wheels, tracks and conveyer belts, for a purchase price of US$1.7 billion. Camso has facilities in more than 25 jurisdictions world-wide.
Axium Infrastructure Inc. and The Manufacturers Life Insurance Company
Acted for (i) Axium Infrastructure Inc. and The Manufacturers Life Insurance Company in their joint $922-million acquisition from AltaGas Ltd. of a 35% interest in three hydroelectric projects in northwest British Columbia: the 195 MW Forrest Kerr Hydroelectric Facility, the 66 MW McLymont Creek Hydroelectric Facility and the 16 MW Volcano Creek Hydroelectric Facility; and (ii) Northwestern Hydro Acquisition Inc. (NWHA), the special purpose acquisition vehicle formed to complete the acquisition, in a subsequent $650 million senior secured bond financing and related letter of credit facility.
Hydroméga Services Inc.
Acted for Hydroméga Services Inc. in the acquisition of Cochrane Power Corporation's Cochrane Power Generating Station, a cogeneration facility equipped with a 30MW natural gas turbine and a 15MW biomass fuelled boiler and steam turbine.
Nomura Securities International, Inc.
Acted for Nomura Securities International, Inc. in the refinancing of credit facilities in an aggregate amount of approximately $230 million made available for the long-term operation of seven 10-MW ground-mount solar photovoltaic projects in Ontario, each of which had been awarded a 20-year power purchase contract with the IESO.
Ontario to Review Existing Generation Contracts
Nov. 08, 2019 - The Ontario government recently issued an Order in Council approving the issuance of a directive to the Independent Electricity System Operator (IESO) with a view to “identifying viable opportunities to lower electricity prices for Ontario consumers while maintaining system reliability. ”The...
Canadian Securities Regulators Provide Guidance on Climate Disclosure
Aug. 08, 2019 - In recent years, awareness of the potential impacts of climate change on issuers has heightened both in Canada and internationally. As the risks of, and potential opportunities associated with, climate change become better understood, investors and other stakeholders continue to press for greater...
Moderator, Canadian Bar Association, Environmental, Energy & Resources Law Summit, “Canada’s Green Energy Development Shifts West”; Vancouver, BC
May 03, 2019
Green Energy Act Repealed and Municipal Powers to Oppose Renewable Energy Reinstated
Sept. 21, 2018 - The Ontario government has introduced Bill 34, which would repeal the Green Energy Act, 2009. The new legislation, introduced on September 20, 2018, maintains the right of the government to enact regulations to promote renewable energy in the future. However, the current intention to...
In the News
Sarah Powell Discusses Ottawa’s New Environmental Regime in Canadian Lawyer
May 01, 2018 - In the April edition of Canadian Lawyer (available to subscribers), Davies partner Sarah Powell gives her perspective on the federal government’s proposed environmental overhaul introduced in February. Sarah believes there needs to be more clarity about what companies behind major energy...
Canadian Securities Regulators Report on Climate Disclosure
Apr. 06, 2018 - Following on the heels of the recommendations of the Financial Stability Board’s Task Force on Climate-Related Disclosures (Task Force), the Canadian Securities Administrators (CSA) has published its Report on Climate change-related Disclosure Project. The CSA reviewed mandatory and voluntary...
Canada Resets Federal Environmental Assessment for Major Project Reviews
Feb. 09, 2018 - In 2016, the Canadian government launched a formal review of key federal environmental assessment and regulatory processes. Expert panels were established and parliamentary committees engaged to conduct consultations and provide recommendations with respect to the Canadian Environmental...
Pan-Canadian Carbon Pricing Update: Federal Backstop Legislation Proposed
Jan. 18, 2018 - This week, the federal government released, for public comment, draft legislation relating to the proposed federal carbon pricing system. The Greenhouse Gas Pollution Pricing Act provides a complex framework for the implementation of a federal carbon pricing “backstop” to be applied to...
Enlarged Carbon Market and New Oil & Gas Statutory Framework in Québec…Predictability or Uncertainty Ahead?
Sept. 22, 2017 - Ontario, Québec and California signed an agreement on September 22, 2017, to integrate and harmonize greenhouse gas emissions cap programs. As a result, Ontario will join the Western Climate Initiative carbon market, with California and Québec, on January 1, 2018. 1In Québec, this announcement was...
Financial Stability Board Task Force on Climate-Related Disclosures Releases Final Report
June 29, 2017 - On June 29, 2017, the Financial Stability Board’s Task Force on Climate-Related Disclosures (TFCD) released the report containing its final recommendations. The report provides guidance to assist public companies in more effectively satisfying existing climate-related disclosure requirements. ...
Chambers Global: The World’s Leading Lawyers for Business—Environment (Band 1)
Chambers Canada: Canada’s Leading Lawyers for Business—Environment (Band 1)
The Legal 500 Canada—Environment (Leading Lawyer)
The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada—Environmental Law
Report on Business/Lexpert Special Edition Canada’s Leading Energy Lawyers
Lexpert Special Edition: Mining
Lexpert Zenith Award—Environmental Law (2014)
Lexpert Guide to US/Canada Cross-Border Lawyers in Canada—Environmental Law
The Canadian Legal Lexpert Directory—Environmental Law (Most Frequently Recommended); Energy: Electricity; Indigenous Law
The Best Lawyers in Canada—Environmental Law (Lawyer of the Year 2018, Toronto); Energy Law (Lawyer of the Year 2017, Toronto); Energy Regulatory Law (Lawyer of the Year 2019, Toronto); Natural Resources Law
Who’s Who Legal: Canada—Environment (Most Highly Regarded); Who’s Who Legal: Environment
Expert Guides’ Women in Business Law; Expert Guides—Environment