Aaron Prince
The Grace Building
1114 Avenue of the Americas
32nd Floor
New York, New York 10036
Aaron Prince’s practice focuses on asset based financing, acquisition and joint venture transactions.
Aaron represents tax equity investors, private equity funds, sponsors, lenders, borrowers, and other investors in project finance, structured finance, acquisitions, joint ventures, tax credit transfers and general corporate transactions, primarily in the energy sector, including renewable energy (such as solar, wind, geothermal, energy storage, renewable natural gas, advanced manufacturing and refined coal). In addition, Aaron has experience advising clients on other asset-based and non-asset based financing transactions.
Experience Highlights
Trina Solar in $235 million project financing for its U.S. solar panel manufacturing facility based, in part, on the company’s monetization of 45X advanced manufacturing credit
Swift Current Energy in the ~$700 million debt financing, ~$250 million tax equity financing, and ~$270 million ITC transfers for the 800 MWdc Double Black Diamond Solar project in Illinois, which is expected to be the second largest single phase solar project in the US and the largest solar project in MISO
Major financial institution in the $326 million tax equity financing of three solar photovoltaic projects in Arkansas, Mississippi, and North Carolina totaling 425 MWac
Tax equity investor in the sale of PTCs generated by an existing portfolio of 11 solar and wind projects to two buyers pursuant to the 3 separate transfer credit purchase agreements across two tax years
Stonepeak in its approximately $3 billion acquisition of a 50% interest in the Coastal Virginia Offshore Wind project, which at 2.6 GW is expected to be the largest offshore wind project in the U.S. upon completion, including the approximately $5 billion back-leveraged acquisition and delayed draw construction facilities procured to fund the acquisition and the future construction costs of the project
Stonepeak in the approximately $300 million acquisition of an interest in a portfolio of four U.S. onshore wind projects with a total capacity of 957 MW from Ørsted, including the financing for the consummation of the acquisition
Major financial institution in the $325 million tax equity financing of an approximately 200 MWac solar photovoltaic facility and 150 MWac battery storage project located in Fresno County, California
Developer in the $244.5 million acquisition of a 14 project solar portfolio, with projects across the United Stated totaling 442 MW
Terra-Gen in the approximately $270 million construction financing and $136 million tax equity financing for the 64.5 MW Tehachapi Plains, 60.3 MW Oasis Power, and 14.4 MW Oasis Alta wind generation facilities in Kern County, California, and the 61.2 MW Coachella and 46.8 MW Painted Hills wind generation facilities in Riverside County, California
Private equity fund in a $150 million debut joint venture with a solar developer to acquire and develop community solar and other eligible renewable projects
An affiliate of Goldman Sachs Renewable Power in the $144 million acquisition of the 172.2MWdc American Kings Project in Kings County, California, and the sale of a tax equity interest in the project to M&T Bank
Terra-Gen in the approximately $250 million construction financing and $170 million tax equity financing for the 193.5MW Voyager Wind II Project in Kern County, California, and the 32.7MW Texas Big Spring Project in Big Spring, Texas
Tax equity investor in a $185 million tax equity investment and lender in a $60 million loan to repower three wind generation facilities in Texas totaling 546MW, each being developed by one of the largest renewable energy project developers in the U.S.
Cypress Creek in a mezzanine debt facility, a preferred equity issuance, and recapitalization intended to optimize its capital structure as part of its long-term growth strategy
SunRun as borrower in a $227 loan and a $14.4 million delayed draw term loan B credit facility
Morgan Stanley as lender, administrative agent, lead arranger, and issuing bank in a $440 million loan to finance the construction and development by Invenergy Wind North America of a 289 MW wind farm in Texas
Morgan Stanley Bank and Morgan Stanley Senior Funding as lenders, administrative agent, and lead arranger in a $361 million loan to finance the construction and development by a subsidiary of Invenergy Wind Global of an approximately 257.25 MW wind farm in Texas
Morgan Stanley Senior Funding as lender, administrative agent, lead arranger, and issuing bank in a $351.6 million loan to finance the construction and development by a subsidiary of Invenergy Wind Global of an approximately 207.2 MW wind farm in Texas majority-owned by TerraForm Power
Major financial institution in the $326 million tax equity financing of three solar photovoltaic projects in Arkansas, Mississippi, and North Carolina totaling 425 MWac
Major financial institution in the $325 million tax equity financing of an approximately 200 MWac solar photovoltaic facility and 150 MWac battery storage project located in Fresno County, California
Two large banking institutions in their $200 million tax equity investment in a 201.6 MW wind farm in White County, Indiana
Major financial institution in an approximately $142 million tax equity investment in the re-powering of a 162.2 MW wind project located in Caddo and Kiowa Counties, Oklahoma; the re-powered project will be operated by a market leading wind energy developer, and its affiliates, and will sell power and environmental attributes pursuant to a long-term power purchase agreement with an off-taker located in a different regional power market
Terra-Gen in the approximately $270 million construction financing and $136 million tax equity financing for the 64.5 MW Tehachapi Plains, 60.3 MW Oasis Power, and 14.4 MW Oasis Alta wind generation facilities in Kern County, California, and the 61.2 MW Coachella and 46.8 MW Painted Hills wind generation facilities in Riverside County, California
Tax equity investor in its investment in a 65 MW solar project in North Carolina
Major financial institution in an approximately $100 million tax equity investment in a 200 MW solar energy generation facility located in Randolph County, Indiana. The project will be operated by a market leading global renewable energy developer and its affiliates, and will sell power and environmental attributes to an electricity supply cooperative pursuant to a long-term power purchase agreement
Leading renewable energy projects developer in its obtaining tax equity commitment of up to $202.5 million for 25 solar projects in the Northeast region of the U.S. totaling approximately 270 MW
Financial sponsor in partnership flip tax equity financing in respect of a portfolio of C&I solar photovoltaic (PV) projects
JPM Capital Corporation in its approximately $160 million equity commitment to develop the approximately 126 MW Timber Road IV Wind Farm Project in Paulding County, Ohio, and the approximately 50.4 MW Los Mirasoles II Wind Farm Project in Hidalgo and Starr Counties, Texas
Tax equity investor in the $45.5 million tax equity financing of a 100 MWac utility-scale solar energy project in Texas
Terra-Gen in the approximately $180 million construction financing and $125 million tax equity financing for the 131.1 MW Voyager I wind project in Kern County, California
JPM Capital Corporation and Bankers Commercial Corporation in the $138 million tax equity financing of wind farms being developed by affiliates of EDP Renewables North America in Oklahoma and California aggregating approximately 199MW
Terra-Gen in the approximately $250 million construction financing and $170 million tax equity financing for the 193.5MW Voyager Wind II Project in Kern County, California, and the 32.7MW Texas Big Spring Project in Big Spring, Texas
Tax equity investor in a $185 million tax equity investment and lender in a $60 million loan to repower three wind generation facilities in Texas totaling 546MW, each being developed by one of the largest renewable energy project developers in the U.S.
Tax equity investor in a $269 million investment in respect of a 199.2MW wind generation facility in Iowa and a 78.4MW wind generation facility in New York
Two tax equity investors in a $246 million investment to repower three wind generation facilities in Texas totaling 449MW, each being developed by one of the largest renewable energy project developers in the U.S.
Tax equity investor in a $116.1 million investment to finance an approximately 120 MW utility-scale ground-mounted photovoltaic solar project in Colorado
Vivint Solar in a $150 million commitment by an affiliate of Credit Suisse Securities to lease its commercial and industrial solar installations
Tax equity investor in a $75 million commitment to a residential solar developer for the design, procurement, and installation of solar photovoltaic projects on the rooftops of residential customers
Equity investor in a $275 million commitment to a geothermal project under development in Nevada
Three financial institutions and one international conglomerate in their separate tax equity investments in various refined coal facilities throughout the U.S., utilizing partnership and lease structures
Trina Solar in $235 million project financing for its U.S. solar panel manufacturing facility based, in part, on the company’s monetization of 45X advanced manufacturing credit
Swift Current Energy in the ~$700 million debt financing, ~$250 million tax equity financing, and ~$270 million ITC transfers for the 800 MWdc Double Black Diamond Solar project in Illinois, which is expected to be the second largest single phase solar project in the US and the largest solar project in MISO
Financial institution in the $27 million construction and permanent financing credit facility, $4 million revolving loan facility, $4 million letter of credit facility and incremental loan facility in an amount of up to $50 million to, a dairy renewable natural gas developer that owns and operates a portfolio of RNG production facilities across multiple states
Palmetto Solar, LLC in the securing of a total commitment of $75 million in loans for its working capital facility
Financial sponsor in an upsizing of an existing credit agreement providing for additional term loans in aggregate principal amount of approximately $98 million to refinance and replace existing debt for eight operating solar power projects in the states of Georgia, Indiana, South Carolina, Virginia and Vermont
Terra-Gen in the approximately $270 million construction financing and $136 million tax equity financing for the 64.5 MW Tehachapi Plains, 60.3 MW Oasis Power, and 14.4 MW Oasis Alta wind generation facilities in Kern County, California, and the 61.2 MW Coachella and 46.8 MW Painted Hills wind generation facilities in Riverside County, California
Financial sponsor in the sale leaseback financing and construction loan financing in respect of a portfolio of community solar photovoltaic projects
Terra-Gen in the approximately $180 million construction financing and $125 million tax equity financing for the 131.1 MW Voyager I wind project in Kern County, California
Terra-Gen in the approximately $250 million construction financing and $170 million tax equity financing for the 193.5MW Voyager Wind II Project in Kern County, California, and the 32.7MW Texas Big Spring Project in Big Spring, Texas
Tax equity investor in a $185 million tax equity investment and lender in a $60 million loan to repower three wind generation facilities in Texas totaling 546MW, each being developed by one of the largest renewable energy project developers in the U.S.
Cypress Creek in a mezzanine debt facility, a preferred equity issuance, and recapitalization intended to optimize its capital structure as part of its long-term growth strategy
Morgan Stanley Bank and Morgan Stanley Senior Funding as lenders, administrative agent, and lead arranger in a $361 million loan to finance the construction and development by a subsidiary of Invenergy Wind Global of an approximately 257.25 MW wind farm in Texas
SunRun as borrower in a $227 loan and a $14.4 million delayed draw term loan B credit facility
Morgan Stanley as lender, administrative agent, and lead arranger in a $263.5 million loan for the construction and development by Invenergy Wind Global of an approximately 200.5 MW wind farm in Kansas
SunRun as borrower in a $173 million loan facility under a term loan A credit agreement and a $20 million term loan facility under a term loan B credit agreement
Morgan Stanley Senior Funding as lender, administrative agent, lead arranger, and issuing bank in a $351.6 million loan to finance the construction and development by a subsidiary of Invenergy Wind Global of an approximately 207.2 MW wind farm in Texas majority-owned by TerraForm Power
Morgan Stanley as lender, administrative agent, lead arranger, and issuing bank in a $440 million loan to finance the construction and development by Invenergy Wind North America of a 289 MW wind farm in Texas
Goldman Sachs Specialty Lending Group as lender, administrative agent, and lead arranger in connection with a revolving loan facility for a solar residential rooftop sponsor, in which the financing was secured by proceeds from the cash grant made available pursuant to the American Recovery and Reinvestment Act of 2009
Stonepeak in its approximately $3 billion acquisition of a 50% interest in the Coastal Virginia Offshore Wind project, which at 2.6 GW is expected to be the largest offshore wind project in the U.S. upon completion, including the approximately $5 billion back-leveraged acquisition and delayed draw construction facilities procured to fund the acquisition and the future construction costs of the project
Stonepeak in the approximately $300 million acquisition of an interest in a portfolio of four U.S. onshore wind projects with a total capacity of 957 MW from Ørsted, including the financing for the consummation of the acquisition
ORIX Corporation USA in the formation of a joint venture with an investment management firm and the financing of the acquisition by the joint venture of a tax equity interest in a 150 MW wind farm near Amarillo, Texas
Funds managed by Ares Management in the acquisition and related financing of Atlas Crane Service, a full-service crane rental company that primarily serves the wind industry
Developer in the $244.5 million acquisition of a 14 project solar portfolio, with projects across the United Stated totaling 442 MW
Private equity fund in a $150 million debut joint venture with a solar developer to acquire and develop community solar and other eligible renewable projects
An affiliate of Goldman Sachs Renewable Power in the $144 million acquisition of the 172.2MWdc American Kings Project in Kings County, California, and the sale of a tax equity interest in the project to M&T Bank
Affiliate of Goldman Sachs Renewable Power in the $86.9 million acquisition of LLC membership interests in operating solar commercial and industrial projects subject to sale-leaseback financing arrangements
Sixth Street in a joint venture with MMA Energy Capital to finance the construction and ongoing operations of solar power projects throughout North America
Large financial institution in a complex transaction with another large financial institution regarding the ownership of a wind farm portfolio
Tax equity investor in the sale of PTCs generated by an existing portfolio of 11 solar and wind projects to two buyers pursuant to the 3 separate transfer credit purchase agreements across two tax years
Nationally recognized renewable energy developer in the sale of up to $120 million in investment tax credits generated by a solar project to a corporate tax credit purchaser
Nationally recognized renewable energy developer in its $150 million sale of investment tax credits generated by a solar project to a corporate tax credit purchaser
Credentials
- Brooklyn Law School, J.D. cum laude, 2008 (Brooklyn Law Review, Notes and Comments Editor)
- Emory University, B.A. Philosophy; Member, Philosophy Honors Society, Phi Sigma Tau, 2005
- Chambers Global, Projects: Renewables & Alternative Energy (USA), 2024; “Up and Coming” in Projects: Renewables & Alternative Energy (USA), 2022 and 2023
- Chambers USA, Projects: Renewables & Alternative Energy (Nationwide), 2021–2024; “Up and Coming” in Projects: Renewables & Alternative Energy (Nationwide), 2021 and 2022
- Legal 500 U.S., Energy: Renewable/Alternative Power, 2022 and 2024; Finance: Project Finance, 2022-2024
- Selected to the New York Rising Stars list, Super Lawyers (Thomson Reuters), 2013–2023
- Selected to the 500 Leading Energy Lawyers, Lawdragon, 2023 and 2024
- New York
- Deals & CasesOctober 23, 2024
- Rankings & AwardsJune 12, 2024
- Rankings & AwardsJune 6, 2024
- Deals & CasesMarch 13, 2024
- Deals & CasesFebruary 22, 2024
- Rankings & AwardsFebruary 15, 2024
- Rankings & AwardsSeptember 22, 2023
- Deals & CasesAugust 9, 2023
- Rankings & AwardsJune 12, 2023
- Rankings & AwardsJune 1, 2023
- Rankings & AwardsMarch 17, 2023
- Rankings & AwardsFebruary 16, 2023
- Deals & CasesSeptember 29, 2022
- Rankings & AwardsJune 16, 2022
- InsightJune 14, 2022
- InsightJune 9, 2022
V&E Renewable Energy Update
- Rankings & AwardsJune 1, 2022
- Rankings & AwardsMarch 29, 2022
- Rankings & AwardsFebruary 17, 2022
- Press ReleaseFebruary 3, 2021