As the solar industry matures, industry participants require comprehensive, experienced and creative answers to their development, finance, tax and regulatory questions. Drawing on its industry-leading experience and capabilities, Akin Gump Strauss Hauer & Feld LLP continues to be out in front of the challenges that face our clients.
Akin Gump’s team has extensive experience in the development and financing of utility-scale and distributed generation solar projects, working on all the key development issues for solar projects, including site control, land use and permitting, power sales, transmission and interconnection, equipment and supply, and construction. We assist our clients in all aspects of debt and equity financing for their projects. We have also closed several high-profile projects in the United States that benefitted from the U.S. Department of Energy (DOE) Loan Guarantee program.
Akin Gump attorneys have worked on many of the largest and most significant solar projects in the world, including:
- representation of SunPower Corporation in the development and sale of the 580 MW Antelope Valley photovoltaic solar project (AVSP) to affiliates of MidAmerican Energy Holdings Company. The project will utilize SunPower’s proprietary photovoltaic modules and tracking technology, and its electricity will be sold to Southern California Edison Company under long-term power purchase agreements. SunPower will build and operate the project for MidAmerican. Construction of the project has commenced, and commercial operation is expected in 2015. When completed, AVSP will be the largest solar energy project in the world.
- representation of BrightSource Energy in the development and financing of the 392 MW Ivanpah Solar Electric Generating System in San Bernardino County, California (including $1.6 billion in construction and permanent debt financing guaranteed by the U.S. Department of Energy under the Innovative Technology Loan Guaranty Program). This financing was the largest solar financing completed under this loan guaranty program. In 2012, this transaction was awarded CSP project of the year by Solar Power Generation USA.
- representation of SunPower Corporation and NRG Energy in connection with the financing of the California Valley Solar Ranch, a 250 MW solar (PV) project located in San Luis Obispo, California. Financing of this project included a $1.237 billion construction and permanent loan guaranteed by the U.S. Department of Energy. This financing was one of the largest and one of the last projects to receive a loan guaranty under the loan guaranty programs established by the 2009
- representation of Sunpower Corporation in the negotiation of an EPC and O&M contract for a 70MW solar facility in the Diego Almagro area of Chile
- representation of a consortium of private equity companies consisting of Everstream Capital of San Francisco and New Energy Capital of Hanover, New Hampshire and North Sky Capital of Minneapolis, in a series of development loans to a large west coast based solar energy project developer. The loans represent a new and unique structure for funding development capital for utility scale solar projects
- representation of Sustainable Power Group (sPower), a Utah-based owner and operator of utility and distributed electrical generation systems, in its acquisition of the assets of Tioga Energy Inc. The deal gives sPower photovoltaic solar arrays in nine states
- representation of a developer in the portfolio financing of up to $100 million in residential solar projects in California, Hawaii, Arizona and Colorado. The developer will install and sell the projects to a fund utilizing the federal cash grant program, state tax incentives and debt financing
- representation of the Belgian-based renewable energy company Origis Energy in the development, finance and tax equity financing of two utility scale solar projects in the state of Georgia, the power from which will be sold to Georgia Power Company
- representation of SunPower Corporation in the sale and financing of the Kalaeloa Solar Two 5 MW photovoltaic project located in Oahu, Hawaii. The project sells power to the Hawaiian Electric Company and, as of completion, was the largest solar project in the State of Hawaii. The purchaser utilized a construction loan in conjunction with tax equity financing to acquire the project. The project benefits from the federal solar investment tax credit and the Hawaii Renewable Energy Technologies Income Tax Credit
- representation of SunPower Corporation in the sale and EPC arrangement with K Road for the 25 MW solar project in Modesto, California. The project was sold to K Road with a long term power purchase agreement with the Modesto Irrigation District
- representation of a developer in connection with a sale leaseback financing of a portfolio of distributed generation PV projects totaling approximately 12 MW
- representation of a developer in connection with the development, construction and financing of a 30 MW photovoltaic project in Puerto Rico
- representation of a major community college district in connection with development and over $50 million financing of multicampus solar energy facility installation program using tax-efficient financing strategies
- representation of lender in SEGS II (30 MW hybrid solar power project) and representation of project developer in the development, construction, financing and operation of SEGS III-IX (series of five 30 MW and two 80 MW hybrid solar power plants in Southern California
- representation of an equity investor in connection with more than $500 million of portfolio investments in commercial and residential photovoltaic solar power projects throughout the southwestern United States and Colorado
- representation of a large U.S. energy developer in the acquisition of a 2.1 MW solar photovoltaic power project, which uses an innovative, patent-pending structure covering a parking area adjacent to Sun Devil Stadium at Arizona State University and will purchase the energy generated by the project.
- representation of a developer in connection with the development, construction and sale of various distributed generation solar PV projects in Southern California
- representation of a developer in the development of a 350 MW photovoltaic project in California
- representation of a purchaser in the acquisition and tax equity sale-leaseback financing of a utility scale photovoltaic solar plant in the eastern United States
- representation of a project company in the development of a 30 MW solar photovoltaic plant for a municipal utility in the southwestern United States
- representation of a lender in connection with the financing of a utility scale solar project in Imperial Valley, California
- representation of a lender in connection with permanent financing for a 21 MW photovoltaic solar project in Southern California
- representation of a lender in connection with permanent financing for a 20 MW photovoltaic solar project in New Mexico
- representation of a utility in the development of a 15 MW photovoltaic solar plant in the western United States
- representation of a developer in connection with a power purchase agreement for a 150 MW solar project in Imperial Valley, California
- representation of developers in the creation of residential solar programs and the negotiation and consummation of portfolio tax equity commitments totaling more than $45 million
- representation of a developer in connection with two 80 MW solar projects (SEGS VII-IX) in California
- representation of SunPower Corporation in the supply of photovoltaic modules and related balance of system equipment, design services and technical advice for NRG Energy’s 26 MW Borrego Project in San Diego County, California
- representation of SunPower Corporation in the supply of photovoltaic modules and related equipment to NRG Energy’s 92 MW Alpine Solar Project in Los Angeles County, California
- representation of Rabobank International in the lease financing of a portfolio of over 30 commercial distributed generation solar projects developed and installed by Solar City in California
- representation of a prominent solar panel manufacturer and project developer in connection with the lease financing of a solar project to be installed on a site owned by the city of Galt in California
- representation of a prominent solar panel manufacturer and project developer in connection with the lease financing of a solar project to be installed on a site owned by Castaic Lake Water Agency in California
- representation of NRG Energy, Inc. in the acquisition of Solar Power Partners (SPP), a developer of distributed solar projects. SPP has over 30 MW of distributed solar projects in operation or under construction, and a pipeline of over 1,300 MW of projects in development located in California, Hawaii, Arizona, Connecticut, New Mexico, Massachusetts, New Jersey, Canada and Puerto Rico.