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Carmen Wehmeier

Of Counsel

Austin

In the face of the increasingly devastating impacts of climate change, Carmen serves as a strategic advisor to investors, sponsors and lenders with their financial commitments to decarbonize the energy industry.

Passionate and committed to the energy transition, Carmen focuses her practice on the development and financing of transformative renewable energy projects. She advises a broad range of clients in connection with bilateral and syndicated facilities, asset- and cash-flow-based facilities, letter of credit financings, and tax equity financings.

She is also well-versed in acquisition financings in all phases of development, including investments in single asset or a portfolio of projects.

Prior to joining Orrick, Carmen practiced at two leading global law firms where she focused on project financings in the renewable energy sector. Prior to law school, she was an alternative energy consultant for Newcomb Anderson McCormick, where she aided school districts, municipalities and utilities with renewable energy procurement and the management of energy efficiency programs. She was also a legal intern for the Administrative Law Judges Division of the California Public Utilities Commission.

  • Project Finance

    • Ultium Cells LLC in connection with a $2.5 billion U.S. Department of Energy (DOE) loan, the first loan exclusively for a battery cell manufacturing project through the DOE Loan Programs Office’s Advanced Technology Vehicles Manufacturing (ATVM) program.
    • The lender in a $120 million mezzanine loan to a solar company which was collateralized by the cash flows paid to the sponsor after servicing debt on an asset-backed securitization backed by several portfolios of small residential solar projects, most of which are held through tax equity funds with various tax equity investors.
    • The lender in connection with $110.5 million warehouse loan secured by equity interests in 12 residential solar funds, each with existing tax equity and back-leverage debt.
    • The borrower in connection with $40 million loan secured by loan to sponsor secured by equity interests in 12 residential solar funds, each with existing tax equity and back-leverage debt.
    • The lender in connection with a $10 million revolving loan to a developer in connection with the development of utility scale solar projects.
    • The lender in connection with ten separate front- and back-leveraged loans secured by interest in tax equity funds and residential solar assets.
    • A renewable energy developer in connection with the five separate construction, term and tax equity financings for utility-scale solar projects in North Carolina.
    • The lender in connection with $30 mezzanine revolver secured by solar assets participating in PACE programs across the country.
    • A private equity fund as borrower in the construction and term project financing of several utility-scale solar projects in Mississippi, Arizona, California and Utah.
    • A renewable energy investment fund in the restructuring of various investments from equity to debt for tax purposes secured by interest in utility-scale solar projects.
    • The borrower in connection a $135 million loan secured by loans made to a solar developer secured by interests in three residential solar funds.
    • The borrower in connection with a $50 million bridge loan secured by loans made to a solar developer secured by interests in three residential solar funds.
    • The borrower in connection a $161 million loan secured by loans made to a solar developer secured by interests in seven residential solar funds.
    • A private equity fund as borrower in connection with its $520 million financing for the acquisition of an existing gas-fired facility in Pennsylvania.
    • A private equity fund as borrower/sponsor in connection with its construction, back-leverage financing and tax-equity funding of a 298 MW wind project in Oklahoma.
    • A renewable energy developer as borrower in connection with a $70 million construction financing of a utility-scale solar project in New York.

    Acquisition Finance

    • A private equity fund as borrower in connection with its $520 million financing for the acquisition of an existing gas-fired facility in Pennsylvania.
    • A medical robotics company as borrower in connection with its $40 million financing for the acquisition of another medical robotics company.

    M&A

    • A renewable energy investment fund as the cash equity provider in a tax equity fund to procure tranches of commercial-scale solar projects in SREC states.
    • A sponsor as the cash equity provider in a tax equity fund to procure tranches of commercial-scale solar projects.
    • A developer in connection with the sale of a 25 MW solar project in New York to an American electric utility company.
    • A developer in connection with the acquisition of a 298 MW wind project in Oklahoma.
    • A utility-scale renewable energy developer in the acquisition of a 350 MW development-stage utility-scale solar project on BLM land.
    • Private equity-backed infrastructure investor in connection with acquisitions related to water and other water-related infrastructure assets.

    Carmen's experience includes that prior to joining Orrick.