Green Finance

Financing is an integral part of any green project development. Federal and state tax credit programs, incentives, and creative green financing sources will create and support renewable energy projects and sustainable developments. The lawyers in our Sustainability Group regularly assist clients in acquiring green financing sources for their sustainable and renewable energy development projects, including federal, state and local incentives. We provide counsel for work with lenders, equity investors, bankers, financiers, and developers to incorporate financing and tax incentives, provide transactional support in preparing and reviewing term sheets, drafting and reviewing finance documentation, advising on risk, and compliance with governmental regulatory requirements. Our team assists green project developers in structuring finance joint ventures and sales of green projects to long term owners.

    • Experience
      • Represented an institutional lender providing a $22,000,000 construction loan to an affiliated group of borrowers to fund the construction costs associated with the design, procurement, and installation of 26MW commercial rooftop solar array projects for two Fortune 50 companies to be located on 60 commercial buildings in four states and secured by all assets of the borrowers, including their respective rights under all contracts with equipment procurement contractors (EPCs), power purchase agreements, renewable energy certificates, agreements relating to federal investment tax credits, interconnection agreements and maintenance agreements. The contemplated refinancing of this transaction involved the placement of permanent senior loan financing from an institutional lender, a tax credit equity investment (in the form of a "partnership flip" which involved the creation of special purpose entities) from an institutional investor and the associated intercreditor, interparty and other third party issues related thereto.

      • Represented clients in responding to requests for proposals issued by the Connecticut Public Utilities Regulatory Authority, the Connecticut Department of Energy and Environmental Protection, and the Connecticut Green Bank for energy projects.

      • Represented merchant energy generator in proceeding before the Department of Public Utility Control to determine ownership of renewable energy certificates.

      • Counsel clients on locating and accessing federal, state, and local funding sources for renewable energy and distributed generation projects.

      • Represent clients in securing renewable attribute accreditation for projects.

      • Represent renewable and traditional energy-generation projects in obtaining long-term power purchase (a/k/a off-take) contracts.

      • Counsel clients on tax credit financing for renewable energy projects, and recently presented on financing tools for municipal projects including Clean Renewable Energy Bonds (CREBs) and Qualified Energy Conservation Bonds (QECBs).

      • Evaluate use of renewable energy credits to meet clients' clean energy and emission reduction goals.

      • Advise clients in analyzing energy efficiency programs to assist in reduction of energy consumption and overall reduction of energy costs.

      • Represent renewable energy company as general corporate and real estate counsel, responsible for permitting, financing, and asset acquisition for Rhode Island-based power production facilities.

      • Counsel to a number of clients with requests for proposal and negotiation of power purchase and site lease agreements for renewable energy installations.

      • Assist clients in structuring development stage debt and equity financing at the project and portfolio level.

      • Negotiated and appeared before town councils in connection with approval of Public Entity Net Metering Financing Arrangements.

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