Tax Equity Transactions

Jeff has worked on numerous tax equity transactions throughout his career. A sampling of those transactions over the last two years include:

• Wells Fargo in connection with over US$4 billion of tax equity investments with various sponsors across the country, including its approximately US$880 million investment in a portfolio of 4 wind and 1 solar project with a fair market value in excess of US$1.6 billion.
• A leading financial institution in its project financing of, and preferred equity investment in, a 230 MW multi-phase solar and battery storage project in California.
• A leading financial institution in its tax equity investment in a 432 MW solar project in Texas.
• A leading financial institution in its hybrid tax equity investments in portfolios of solar and wind projects located in Texas, Illinois, Indiana, and South Dakota.
• A leading financial institution in its staggered tax equity investment in multiple projects added to a single portfolio.
• Multiple financial institutions in tax equity investments in standalone battery energy storage projects located in California pre- and post-Inflation Reduction Act.
• A leading financial institution in its preferred equity investment in, and project financing of, a 250MW wind power project in Texas for a first time US developer.
• A leading insurance company in its first tax equity investment of up to US$100 million in a portfolio of residential solar projects under development by a leading rooftop provider.

Tax Credit Transfer Agreements

• A leading insurance company in connection with its purchase of approximately US$120 million of solar and energy storage investment tax credits.
• A leading financial institution in connection with the purchase of approximately US$200 million of solar production tax credits and investment tax credits.
• A leading EV battery manufacturer with respect to claiming direct pay for advanced manufacturing tax credits in connection with joint venture with a US car manufacturer.
• A leading financial institution in connection with the sale of approximately US$100 million of solar and energy storage investment tax credits.
• A leading financial institution in connection with the sale of approximately US$225 million production tax credits and investment tax credits in connection with a hybrid tax equity transaction of four projects across the United States.

Energy M&A and Other Transactions

• A leading financial institution in creating a bespoke joint venture vehicle to acquire 100% of another financial institution’s portfolio of tax equity assets.
• A leading financial institution on a bifurcated financing of two solar and co-located energy storage projects in California.
• A leading financial institution on its transfer of US$6 billion of investments across 44 individual transactions.
• Entegra Power Group in the sale of a 550 MW natural gas power block and 25% interest in all related common facilities to Tucson Electric Power Company and UNS Electric, Inc.
• Numerous financial institutions and corporations in their acquisitions and sales of tax equity investments in the secondary market.
• Apollo Investment Corporation in connection with its commitment to provide approximately US$650 million in funding for residential solar rooftop systems throughout the United States to be originated and developed by Sungevity, Inc.
• a large South Korean conglomerate in connection with an investment in, and potential offtake from, several North American liquefied natural gas (LNG) export facilities.

Renewable Energy Development and Construction

• CS Energy on its acquisitions and sales of projects, including development of several brownfield projects, the sale of a 310 MW portfolio of five solar projects under development in New York and the sale of an approximately 400 MW portfolio of three early-stage solar projects in Colorado.
• OCI Energy on its acquisition, development and sale of several utility scale solar and battery projects throughout Texas.
• Macquarie Infrastructure Company, Edison Mission Energy and other major developers of, and lenders to, renewable energy projects in the potential acquisition, development, construction and financing of over 65 utility-sized renewable energy-generation facilities throughout the United States.
• Southern California Edison Company in connection with a master power purchase and wind project development agreement providing 1,500 MW of renewable energy.
• Southern California Edison Company in the financing of numerous natural gas, wind, and solar energy projects from which it purchases electricity.
• Lockheed Martin in connection with the development of offshore thermal energy conversion facilities.
• Numerous wind energy project participants in connection with turbine supply agreements, warranty agreements and service and maintenance agreements, as well as serial defect work-outs, with most major wind-turbine manufacturers, including GE, Siemens, Vestas, Mitsubishi, Suzlon, and Clipper.
• Numerous renewable energy projects (including wind, solar and geothermal) in connection with engineering, procurement, and construction (EPC) contracts.

Non-Energy Transactions

• JFK Millennium Partners (JMP) in its redevelopment and long-term operation of Terminals 6 and 7 at John F. Kennedy International Airport in New York.
• Campari America in connection with the development and construction of a distillery and bottling plant in Lawrenceburg, Kentucky.
• HCP, Inc. in connection with the acquisition of a portfolio of 12 on-campus medical office buildings in six states pursuant to a contribution to a DownREIT entity.
• The State of California (Department of Transportation) in the potential upgrade of several large rail infrastructure facilities throughout the state.
• A large investor-owned utility in the potential acquisition of a publicly owned municipal utility.
• Caesar’s in connection with the construction of a casino expansion and related facilities in Las Vegas, Nevada.
• ValueRock Realty Partners in connection with commercial and retail shopping centers in several states.
• Alameda Corridor Transportation Authority in connection with rail improvements in and around the Port of Los Angeles and the Port of Long Beach.
• Fannie Mae in connection with the credit enhancement of over 25 low-income-housing bond issuances.