Murtha Means More

Renewable Energy Project Finance


Financing is an essential component of energy project development and the attorneys of Murtha Cullina LLP have the skills, knowledge and resources to successfully assist our clients throughout the entire process. With a multidisciplinary approach, strategic planning, creative thinking and practical advice, we help our clients effectively navigate project finance requirements. We coordinate, advise and work with the investors and developers, capitalize on financing and tax incentives, assist in preparing and reviewing letters of intent and term sheets, draft and review documentation, identify and analyze risks, ensure compliance with state and federal regulatory requirements, and prepare legal opinions. We are committed to helping our clients move their projects forward efficiently and in a cost efficient manner.

At Murtha Cullina we provide experienced legal advice on all stages of project implementation, from site identification, permitting and environmental review, to the development and finance, sale or financial restructuring of a project. We work extensively with banks that focus on energy transactions and have ongoing relationships with equity players that provide funding for renewable clients.

We have represented clients in connection with the negotiation and documentation of:

  • Ownership and financing structures designed to take advantage of production tax credit, tax incentives and grants associated with renewable energy projects
  • Debt and equity financing
  • Joint development agreements
  • Real property rights, royalties, environmental assessments, risks and remediation
  • Federal, state and local regulatory and permitting issues
  • Joint ventures
  • Power purchase and energy hedge agreements
  • Interconnection and transmission agreements
  • Equity and corporate structuring
  • Project documentation and structuring
  • Tax credits and tax credit transactions
     
  • Counsel to an equity fund developing, acquiring and financing over 30 MWs of solar projects in MA.     
  • Counsel for the Renewable Energy and Efficiency Business Association (REEBA), a Connecticut-based association and for individual companies in the development of rules and regulations relating to the recently passed energy legislation.  In this role, we draft comments and provide assistance for clients in the ever-evolving regulatory process in Connecticut.
  • Counsel to a utility-scale grid-side 20 MW solar PV facility in Wisconsin, which included drafting and negotiating  complex power purchase,  site lease, interconnection, REC purchase and sale, master cooperation, and PV panel supply agreements.
  • Counsel to a combined wind and solar development in Massachusetts (approximately 4 MWs), providing early stage advice regarding permitting, net metering, QF status and interconnection.
  • Counsel to a solar development company in connection with the acquisition and placing in service of six solar PV facilities, totaling 5.6 MW in North Carolina.  This work included due diligence, drafting and negotiating the purchase and sales agreement, review of lease agreements, interconnection and power purchase agreements, and negotiating and drafting numerous other agreements related to tax equity financing and debt financing.
  • Transactions involving a 2 MW solar facility in Massachusetts; assisted with regulatory analysis of interconnections requirements, SREC implications and net metering opportunities. 
  • Represented a large “green” master residential community in Connecticut, which included the development of an electrical cooperative entity and regulatory hearings on issues such as sub-metering.
  • Counsel to several on-site behind-the-meter solar PV systems at commercial sites in New York, New Jersey and Connecticut; drafted and negotiated complex power purchase agreements and site lease agreements.
  • Transactions regarding the applicability of investment/production tax credits for solar, wind and biomass projects. 
  • Transactions involving the development of a billion dollar solar project in Nevada with initial focus on site control, lease, and American Recovery and Reinvestment Act (ARRA)/Department of Energy grant/tax credit matters and attention to letters of intent with contractors and suppliers.
  • Drafted request for proposals (RFP) on behalf of a major water treatment authority for solar and fuel cell generating facilities at several water treatment plants in Connecticut.
  • Numerous proceedings before the Massachusetts Department of Public Utilities and the Department of Energy Resources regarding renewable portfolio standards net metering, and the applicability of long term contracts for renewable generation related to solar and wind facilities. 
  • Transactions involving drafting/reviewing transactional documents for purchase of wind generation equipment.
Description

Financing is an essential component of energy project development and the attorneys of Murtha Cullina LLP have the skills, knowledge and resources to successfully assist our clients throughout the entire process. With a multidisciplinary approach, strategic planning, creative thinking and practical advice, we help our clients effectively navigate project finance requirements. We coordinate, advise and work with the investors and developers, capitalize on financing and tax incentives, assist in preparing and reviewing letters of intent and term sheets, draft and review documentation, identify and analyze risks, ensure compliance with state and federal regulatory requirements, and prepare legal opinions. We are committed to helping our clients move their projects forward efficiently and in a cost efficient manner.

At Murtha Cullina we provide experienced legal advice on all stages of project implementation, from site identification, permitting and environmental review, to the development and finance, sale or financial restructuring of a project. We work extensively with banks that focus on energy transactions and have ongoing relationships with equity players that provide funding for renewable clients.

We have represented clients in connection with the negotiation and documentation of:

  • Ownership and financing structures designed to take advantage of production tax credit, tax incentives and grants associated with renewable energy projects
  • Debt and equity financing
  • Joint development agreements
  • Real property rights, royalties, environmental assessments, risks and remediation
  • Federal, state and local regulatory and permitting issues
  • Joint ventures
  • Power purchase and energy hedge agreements
  • Interconnection and transmission agreements
  • Equity and corporate structuring
  • Project documentation and structuring
  • Tax credits and tax credit transactions
     
  • Counsel to an equity fund developing, acquiring and financing over 30 MWs of solar projects in MA.     
  • Counsel for the Renewable Energy and Efficiency Business Association (REEBA), a Connecticut-based association and for individual companies in the development of rules and regulations relating to the recently passed energy legislation.  In this role, we draft comments and provide assistance for clients in the ever-evolving regulatory process in Connecticut.
  • Counsel to a utility-scale grid-side 20 MW solar PV facility in Wisconsin, which included drafting and negotiating  complex power purchase,  site lease, interconnection, REC purchase and sale, master cooperation, and PV panel supply agreements.
  • Counsel to a combined wind and solar development in Massachusetts (approximately 4 MWs), providing early stage advice regarding permitting, net metering, QF status and interconnection.
  • Counsel to a solar development company in connection with the acquisition and placing in service of six solar PV facilities, totaling 5.6 MW in North Carolina.  This work included due diligence, drafting and negotiating the purchase and sales agreement, review of lease agreements, interconnection and power purchase agreements, and negotiating and drafting numerous other agreements related to tax equity financing and debt financing.
  • Transactions involving a 2 MW solar facility in Massachusetts; assisted with regulatory analysis of interconnections requirements, SREC implications and net metering opportunities. 
  • Represented a large “green” master residential community in Connecticut, which included the development of an electrical cooperative entity and regulatory hearings on issues such as sub-metering.
  • Counsel to several on-site behind-the-meter solar PV systems at commercial sites in New York, New Jersey and Connecticut; drafted and negotiated complex power purchase agreements and site lease agreements.
  • Transactions regarding the applicability of investment/production tax credits for solar, wind and biomass projects. 
  • Transactions involving the development of a billion dollar solar project in Nevada with initial focus on site control, lease, and American Recovery and Reinvestment Act (ARRA)/Department of Energy grant/tax credit matters and attention to letters of intent with contractors and suppliers.
  • Drafted request for proposals (RFP) on behalf of a major water treatment authority for solar and fuel cell generating facilities at several water treatment plants in Connecticut.
  • Numerous proceedings before the Massachusetts Department of Public Utilities and the Department of Energy Resources regarding renewable portfolio standards net metering, and the applicability of long term contracts for renewable generation related to solar and wind facilities. 
  • Transactions involving drafting/reviewing transactional documents for purchase of wind generation equipment.
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