Edward Zaelke

Overview

Edward (Ed) Zaelke is the co-head of the Firm’s Global Energy Project Finance group. He focuses his practice on project finance and private equity in renewable energy transactional matters. With more than 30 years of experience, he advises clients on all elements of alternative energy development and finance, including equity and debt financing, merger and acquisition transactions, equipment purchase and sale agreements, power purchase agreements, siting and other real property issues, governmental approvals, and engineering, procurement and construction (EPC) contracts.

Results

Represented Quinbrook Infrastructure Fund, its subsidiary, Scout Clean Energy, and certain of its affiliates in the debt and tax equity financing of the Ranchero Wind farm in Texas*
Represented Global Infrastructure Partners (GIP), as co-counsel, in connection with its acquisition of the renewable energy business and renewable energy assets of NRG, together with NRG’s interest in NRG Yield*
Represented Abu Dhabi Water and Electricity Authority (ADWEA) and its affiliates in structuring and implementing a long-term offtake and shareholder arrangement with third-party financing through a combination of competitive bid processes and negotiations for what currently will be the world’s largest solar energy facility*

Represented ENGIE, North America in the debt and tax equity financing of the Live Oak Wind Farm in Texas*
Represented a joint venture between Gestamp Wind Energy and Scout Clean Energy in the debt and tax equity financing of the Persimmon Wind Farm in Oklahoma*
Represented Sustainable Power Group (S-Power) in the negotiation of wind turbine equipment procurement and service contracts from a number of wind turbine vendors*
Represented the Royal Bank of Canada in the debt and tax equity financing of the Buckthorn Wind Project being developed and constructed in Texas by a subsidiary of NRG Energy, utilizing both power and hedge and corporate offtake arrangements*
Represented Terra Gen Partners and Coso Operating Company in the restructuring of $665 million of lease obligations, pass-through trust certificates and debt service reserve letter of credit for the Coso BLM, Navy 1 and Navy 2 geothermal projects in California*
Represented a US solar energy development subsidiary of a European developer in the structuring and negotiation of a $500 million platform agreement with an international insurance company that will provide funding for the development and the eventual sale of a portfolio of utility-scale solar projects in the US*
Represented Northleaf Capital Partners in its significant investment in a portfolio of solar and wind projects being developed in Texas by APEX Energy. The transaction was unprecedented in that it involved Northleaf providing development capital when the project had secured necessary debt and tax equity financing, and the developer had provided a notice to proceed with construction. It also involved a relatively new “proxy revenue swap” agreement with an international insurance company in lieu of a traditional power purchase agreement. A portion of one of the projects was located on, and sells power to, a military base. The project was one of the nominees for Renewable Deal of the Year for 2016 by Project Finance*
Represented PNC Bank in a tax equity focused financing of a series of solar projects being developed by the subsidiary of an international solar developer*
Represented Quinbrook Infrastructure Partners in the acquisition of a portfolio of solar projects under development*
Represented SunPower Corporation in seven separate construction and permanent debt financings and eight tax equity financing or project sales over a period of nine months to effect the development and finance of eight utility scale solar projects under development in California and Nevada*
Represented Sustainable Power Group (sPower), a Utah-based owner and operator of utility and distributed electrical generation systems, in the development and tax equity financing of the 60 MW Latigo Wind Farm. The representation included all aspects of the development, including construction financing with MMA Financial and tax equity financing with GE Capital*
Represented sPower in the development and tax equity financing of the 80 MW Pioneer Wind Farm located in Wyoming. The representation included the negotiation of turbine supply and construction agreements and all aspects of the development, including tax equity financing with GE Capital*

*Matter handled prior to joining McDermott.

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Recognitions

Chambers USA – America’s Leading Lawyers for Business
- Projects, Renewable and Alternative Energy, Band 1, 2014 to 2018 (One of only four lawyers in the US to receive a Band 1 ranking in Projects-Renewables and Alternative Energy in the US)
- Projects, Renewable and Alternative Energy, 2010 to 2018
Los Angeles Daily Journal and the San Francisco Daily Journal Top 100 Lawyers in California, 2009, 2010, 2011
A Word About Wind Top 100 Legal Power List, 2018