Best Practices When Reviewing Power Purchase Agreements for Tax Equity Transactions

Produced on: October 24, 2017

Course Format On Demand Audio

Taught by

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Course Description

Time 62 minutes
Difficulty Advanced

In a tax equity, financing for commercial and industrial solar projects, the power purchase agreement (PPA) is typically the most important document. Learn how to draft and review these agreements to ensure financeability and to avoid common pitfalls and deal-breakers that can kill your transaction. Whether you are a developer in charge of negotiating the PPA, or a lawyer tasked with reviewing it, you will assess legal and practical risks, including fatal flaws, so your team can evaluate how to manage or mitigate the risk.

Join Jocelyn E. Lavallo, Of Counsel at Foley & Lardner LLP, as she provides a brief overview of the two most common tax equity transactions – the partnership flip and the sale/leaseback, and then walks through PPA gating items, key terms, and provisions to watch out for.


Learning Objectives:

  1. Grasp how to successfully draft and review power purchase agreements (PPAs) for commercial and industrial solar projects
  2. Recognize the common pitfalls and obstacles encountered during tax equity transactions, and explore how to avoid them
  3. Review the two most common tax equity transactions, and common terms and provisions to look out for



Faculty

Jocelyn E. Lavallo

Foley & Lardner LLP

Jocelyn E. Lavallo is of counsel and a business lawyer at Foley & Lardner LLP. Ms. Lavallo’s practice focuses on the financing, development, purchase, and sale of energy and infrastructure projects, with a primary concentration on solar and wind transactions in the United States. She regularly represents financial institutions and developers in a variety of complex project financings, including partnership flips, sale/leasebacks, asset acquisitions and sales, and construction and term debt financings.

Ms. Lavallo has led numerous financing transactions involving utility solar and wind projects (ranging from 1 MW to 550 MW) and several hundred commercial distributed generation solar projects. She has also advised clients in the development of financing programs for new technologies, including LED lighting, fuel cells and combined heat and power plants (CHP). In addition to her financing experience, Ms. Lavallo has extensive experience with power purchase agreements, net metering credit purchase agreements, construction and maintenance contracts, state REC contracts and other project documents.

Prior to joining Foley, she was counsel in the project finance group at Chadbourne & Parke LLP.


Reviews

DS
Douglass S.

One of the best so far!!!

BM
Bruce M.

Fantastic information for an energy attorney with a modicum of PPA experience. It is good to hear confirming discussion and also new insights into many aspects of a medium size grid-connected PPA. I will listen to this course several times, I am sure. Thank you.

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