Thomas I. Dupuis is a member of the global project finance practice and concentrates his practice on the development, acquisition, sale and financing of commercial real estate and conventional and renewable energy projects, particularly wind, solar and geothermal energy projects.
Practice & Background
Mr. Dupuis represents owners and sponsors, developers, lenders and other participants in a wide array of renewable energy and real estate transactions.
Mr. Dupuis is a member of the Real Property Law Section, California State Bar and Los Angeles County Bar associations. He received his B.S. from Northwestern University in 1991 and his J.D. in 1994 from the University of Southern California Gould School of Law, where he was a member of the Order of the Coif and associate editor of the Southern California Interdisciplinary Law Journal and a member of the Southern California Law Review.
Mr. Dupuis’ recent engagements include the representation of:
- a publicly traded company in connection with several separate acquisitions of land and related leases to utility-scale wind and solar projects, valued in excess of $250mm
- Northleaf Capital Partners in acquiring a 36.7% joint venture interest from Ormat Technologies, which joint venture was valued in excess of $440 million and owns geothermal power projects developed by Ormat in Hawaii and Nevada and three recovered energy generation projects known as OREG 1, OREG 2 and OREG 3
- a subsidiary of publicly traded company in issuance of $100 million Sustainable Yield Bonds secured by interests in wind and solar lease revenues and maturing in 19 years. The Class A bonds received an A rating from Kroll Bond Rating Agency, Inc. and the Class B bonds received a BBB rating from Kroll. This was a first of its kind transaction and creates a new asset class in ABS transactions
- 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. This transaction was recognized as “2013 North American Solar Deal of the Year” by Project Finance Magazine
- Northleaf Capital Partners in its acquisition of a majority ownership stake in the 50.4 MW Cotton Plains Wind and 151.2 MW Old Settler Wind facilities in Floyd County, Texas and the 15.4 MWac Phantom Solar facility located at U.S. Army Garrison Fort Hood in Killeen, Texas. The power from the Cotton Plains Wind project and Phantom Solar project will be sold to the U.S. Army as party of its largest renewable energy PPA to date
- SunPower Corporation in the development, financing and sale of the first two phases of the Boulder Solar photovoltaic solar projects in Clark County, Nevada, including negotiation of, and advice on, various project documents
- SunPower Corporation in the development, financing and sale of the first two phases of the Rosamond photovoltaic solar projects in Kern County, California, including negotiation of, and advice on, project documents and construction financing, and ongoing project development assistance
- SunPower Corporation in the development and financing of the 108 MW Quinto Solar Energy Project in Merced County, California, including negotiation of, and advice on, various project documents and construction financing
- SunPower Corporation in the development and financing of the 52 MW Hooper Solar Energy Project in Alamosa County, Colorado, including negotiation of, and advice on, various project documents and $142 million financing, including $53 million in construction, term and letter of credit financing
- project companies in the development and financing of the 392-MW Ivanpah Solar Energy Generating System in San Bernardino County, California, including negotiation of, and advice on, various project arrangements and $2.2 billion financing, including $1.6 billion in construction and permanent debt guaranteed by the U.S. Department of Energy under the Innovative Technology Loan Guaranty Program
- SunPower Corporation and NRG Energy in connection with the development and 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
- developers, lenders and investors in the development, construction, acquisition, sale and financing of wind, geothermal and solar energy projects, including the formation of joint ventures and strategic partnerships and tax monetization transactions
- Rockland Capital in a $45 million tax-equity financing from Union Bank of California Leasing, Inc. for a Minnesota wind energy project
- project companies in the development and financing of the 845-MW Shepherds Flat Wind Farm in central Oregon, including $2 billion financing, including $1.3 billion in construction and permanent debt guaranteed in part by the U.S. Department of Energy under the Financial Institution Partnership Programa developer and wind turbine equipment manufacturer in numerous turbine supply, EPC and warranty transactions throughout the United States
- lenders and investors in the acquisition and financing of conventional power plants throughout the United States
- a sponsor in connection with $70 million and $112 million project financings for two portfolios of wind projects located in California
- a sponsor in development, financing and sale of large utility-scale PV solar projects in California, Hawaii and New Mexico
- a large private real estate company in acquisition, development, sale and financing transactions throughout the United States
- a private real estate fund in formation, investment and acquisition matters.
Awards & Accolades
- Super Lawyers Business Edition for Real Estate, 2013
- Southern California Super Lawyers – Rising Stars (2004-2008)
- Southern California Super Lawyers – (2010-2014)