Today’s renewable energy market is rapidly evolving. Recent changes in access to funding for projects, advances in technology, updates to tax credits and shifts in global markets have led to an industry that has become increasingly complex.
More than ever, you need a trusted renewable energy advisor by your side to help navigate complex legal challenges and to unlock business opportunities to power your business.
That’s where we come in. McDermott advises industry-leading clients on some of the largest, highest-profile and most complex renewable energy project financing transactions around the globe.
Our lawyers are globally recognized leaders in the industry and have pioneered novel approaches to first-in-jurisdiction and first-of-their-kind complex projects across the full range of alternative power sources, including wind, solar, geothermal, hydroelectric, fuel cell biomass and biofuel. Because of their experience, they have also been called upon to structure and lead many of the renewable energy industry’s largest merger and acquisition transactions.
McDermott’s 40+ lawyer renewable energy team is routinely selected by global market leaders to create innovative structures, to mitigate risk and to create business opportunities in a complex and dynamic energy sector. We represent leading project sponsors and developers, private equity funds, tax equity investors, financial institutions, independent power producers, regulated utilities, corporate power purchasers and equipment manufacturers along the entire arc of project development, construction, operation, finance and acquisition.
We possess the depth and breadth of experience to add meaningful value at each stage of a project, including subject matter proficiency in corporate, tax, regulatory, environmental, intellectual property, resilience, risk mitigation, and operational matters for global market participants, across a wide range of industries and renewable energy technologies.
McDermott is a world leader in the development, construction, financing and acquisition of renewable energy projects because our lawyers are market leaders who are steeped in the industry and who can channel their extensive experience into innovative solutions. Our global project finance team includes the former president of the American Wind Energy Association, an industry-leading renewable energy tax advisor, a former GC within one of the largest electrical utility companies in the US, and former US diplomat and advisor to the White House, State Department and US Trade Representative.
McDermott is uniquely qualified to help you navigate all aspects of renewable project financing and development, including:
Portfolio company merger and acquisition agreements
Joint venture and development agreements
Purchase and sale agreements
Tax Equity Financings
Development, bridge, construction and term debt project financings
Power purchase agreements
Equity investment agreements
EPC contracts and other design-build contracts
Energy hedging arrangements
Operation and maintenance agreements and other long-term services contracts
Federal and state tax structuring, and emerging tax issues
Federal and state environmental matters, including land use and permitting
Northleaf Capital Partners in its acquisition of the 210 MW Canadian Breaks wind farm under construction in Texas.*
Counsel to Abu Dhabi Water and Electricity Authority for its 1160 MW Swiehan Solar Facility, which, upon completion will be the largest solar facility in the world. The project garnered several “Project Finance Deal of the Year” awards for the MENA region for 2018.*
Co-Counsel to Global Infrastructure Partner in its acquisition of NRG Energy’s renewable energy business in 2018. The transaction included the acquisition of wind and solar projects in operation and under development, an operating business with over 600 employees and a controlling interest in NRG Yield, with overall total asset value in excess of $10 billion.*
Represented Terra-Gen Power in connection with the 570 MW Alta Phases II-V wind projects in California (which included a Rule 144A bond offering, a bank cash grant bridge facility and a forward commitment for a sale-leaseback), making this the first large portfolio of wind projects utilizing a leveraged lease finance structure in the United States.*
Counsel to Quinbrook Infrastructure Fund, its subsidiary, Scout Clean Energy, and certain affiliates in the debt and tax equity financing of the 300 MW Ranchero Wind farm in Texas*
Represented SunPower, one of the US’s largest solar manufacturers and developers, in a series of construction debt financings and tax equity financings for numerous solar projects financed by various leading investors*
Represented Emerging Capital Partners, a leading pan-African private equity firm, along with its investment partners, in connection with a $3.1 billion equity and debt financing for Africa’s leading African telecoms infrastructure business*
Represented the Coso Operating Company in the restructuring of approximately $600 million of notes secured by geothermal facilities in eastern California*
Represented a developer and sponsor in the development, financing and sale of a multi-phase utility scale solar photovoltaic project in San Antonio, Texas—at the time the largest municipal utility solar project in the United States. Financings consisted of commercial bank loans, government-funded bank financings and tax equity investments. Ancillary transactions included construction financing for a photovoltaic panel manufacturing facility in San Antonio*
*Matter handled prior to joining McDermott.
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