Renewable Energy Finance

Chapman is a leader among law firms in the complex arena of financing, including in the area of project finance.  Our experience includes all aspects of the negotiation, structuring, and execution of debt and equity investments, including non-recourse and limited recourse debt, equity placements, mezzanine debt, leveraged and synthetic leases, and public offerings of taxable, tax credit, and tax-exempt debt.

Our full range of legal services related to renewable energy finance includes:

• Deal Structuring, Negotiation and Documentation
• Energy Regulation Due Diligence and Counseling
• Environmental and Permitting Due Diligence and Counseling
• Project Agreement Due Diligence
• Project Asset Due Diligence
• Real Estate Due Diligence
• Taxation Counseling

Our experience in specific types of finance structures includes:

• Banks Loans
• Private Placements
• Sale Leasebacks
• Tax Equity
• Tax-Exempt Securities
• Term Loan B Facilities

Areas Of Concentration

Related Practices

Representative Transactions

• Counsel to tax equity investor in $29 million investment in commercial solar energy generating system installed at a super fund site
• Counsel to tax equity investor in $30 million investment in commercial solar energy generating system installed on designated historic site own by U.S. Navy
• Counsel to lessor in sale leaseback of four solar energy generating systems aggregating $30 million and used to supply energy to SCE under its CREST program
• Represented investors in connection with the issuance of $140 million aggregate principal amount of Senior Secured Notes related to the acquisition of nine hydroelectric facilities located in Maine, with a combined nameplate capacity of approximately 70 MWs. 
• Represented investors in a leveraged lease financing of a 64 MW thermal solar electric generating facility located in Nevada
• Represented lenders in connection with the project financing of a 132 MW wind power facility in Oklahoma
• Represented lender in connection with project financing associated with the construction, development and operation of a 139 MW wind facility in Pennsylvania
• Represented company in connection with its acquisition of a majority interest in and financing of a 25 MW offshore wind project
• Represented purchasers with respect to $250 million senior secured notes secured by assignment of power purchase agreement of an electric utility
• Represented purchasers with respect to $350 million first mortgage obligations of an electric power cooperative
• Represented purchasers with respect to $90 million senior secured notes secured by assignment of power purchase agreement of an electric utility
• Represented purchasers with respect to $75 million senior notes of an energy holding company
• Represented purchasers with respect to $250 million senior notes of an energy holding company
• Represented purchasers with respect to $100 million first mortgage bonds of a electric generation and transmission cooperative
• Represented purchasers with respect to $75 million senior secured notes of a business development corporation focused on the solar energy market
• Represented purchasers with respect to a $3.4 million tax-exempt equipment lease/purchase agreement for the acquisition, installation, and lease of a solar photovoltaic electricity generation system
• Represented purchasers with respect to a $4 million tax-exempt equipment lease/purchase agreement covering the acquisition, installation, and lease of a solar photovoltaic electricity generation system
• Represented purchasers with respect to $11.2 million taxable new clean renewable energy bonds issued pursuant to a lease/purchase agreement covering the acquisition, installation, and lease of a solar photovoltaic electricity generation system
• Represented purchasers with respect to $3.5 million qualified energy conservation bonds issued pursuant to a lease/purchase agreement covering the upgrade of energy efficiency equipment, including solar panels
• Represented purchasers with respect to $3 million taxable qualified school construction bonds issued pursuant to a lease/purchase agreement covering the acquisition, installation, and lease of a solar photovoltaic electricity generation system
• Represented purchasers with respect to $29 million taxable qualified school construction bonds issued pursuant to a lease/purchase agreement covering the acquisition, installation, and lease of a solar photovoltaic electricity generation system
• Represented purchasers with respect to $12.7 million taxable new clean renewable energy bonds issued pursuant to a lease/purchase agreement covering the acquisition, installation, and lease of a solar photovoltaic electricity generation system
• Special tax counsel with respect to $14.5 million master equipment lease/purchase agreement covering the acquisition, installation, and lease of a solar photovoltaic parking shade systems
• Represented purchasers with respect to $5 million true lease financing of solar panels and related equipment
• Represented purchasers with respect to $30 million qualified zone academy bonds issued pursuant to a taxable facility lease agreement covering solar and energy conservation measures
• Represented purchasers with respect to $40 million revolving trade receivables facility for bioethanol corporation
• Bond counsel and disclosure Represented Utah Associated Municipal Power Systems in connection with a 57.6 MW wind project located in Bonneville County, Idaho
• Represented purchasers with respect to a $300 million secured credit agreement for a solar panel manufacturer and provider of photovoltaic power plants
• Represented purchasers with respect to a $8.1 million secured term loan agreement to finance the reopening of a dormant biomass power plant
• Special counsel to the back-up servicer with respect to a back-up servicing agreement for a provider of residential solar electricity
• Represented bank provider of tax equity financing for distributed solar energy projects with respect to more than 30 sale leasebacks of solar projects since 2011