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Aaron Lee

Managing Associate

San Francisco

Aaron's practice focuses on project and other complex financing transactions across energy and infrastructure sectors.

Aaron advises sponsors, lenders and financial institutions in debt and equity financings across the renewable energy, conventional energy and infrastructure sectors.

As a law student, Aaron worked as a legal intern at the International Finance Corporation. Prior to law school, Aaron worked as a credit ratings analyst for public finance transactions in the water and wastewater sectors. Aaron is also a licensed civil engineer in the State of California.

  •  Project Finance, Tax Credit Transfer and Joint Ventures
    • Lender in an approximately $212 million mezzanine loan to a solar company collateralized by the cash flows paid to the sponsor after servicing debt on an asset-backed securitization backed by a portfolio of residential solar projects held through a tax equity fund.
    • Lender/investor in an approximately $45 million mezzanine loan and an approximately $20 million cash equity investment in a solar company that installs, owns and operates a large portfolio of residential solar assets subject to long-term leases and power purchase agreements, with tax equity and back-leveraged financing.
    • Investor in connection with its cash equity investments in a solar company that installs, owns and operates large portfolios of residential solar assets subject to long-term leases, each with tax equity and front-leveraged financing.
    • Lender in an approximately $200 million mezzanine loan to a solar company collateralized by the cash flows paid to the sponsor after servicing debt on an asset-backed securitization backed by several portfolios of residential solar projects, most of which are held through tax equity funds with various tax equity investors.
    • Private equity-backed infrastructure investor in connection with acquisition and financing transactions related to water and other water-related infrastructure assets.
    • A leading financial institution in connection with its supply & offtake transactions and other financing transactions related to a refinery in the Caribbean, including associated bankruptcy proceedings.
    • A solar developer in hybrid tax equity and tax credit transfer arrangements for utility-scale solar projects in Hawaii totalling $70 million in tax credit sales.
    • A solar developer for an approximately $225 million tax equity investment for a utility-scale solar project in Texas.
    • A solar developer in a preferred equity partnership for approximately 40 commercial and industrial solar projects. 
    • An equity investor in portfolios of residential solar projects financed with tax equity and back-leverage debt totalling approximately $250 million.
    • Tax credit transfer broker in an approximately $32 million of tax credit sale transaction.

    Development

    • Renewables energy project developer in a master framework purchase agreement for steel. 
    • Solar and wind project developer in a master development services agreement.
    • Renewables energy project developer in a master asset management agreement.

    Aaron's experience includes that prior to joining Orrick.