Carl is a member of
the Energy & Project Finance Group and focuses on energy finance matters. He has been involved in more than US$130
billion in financings for various public and private utility projects and has
extensive experience in all areas of finance and contractual negotiations for
rural electric cooperatives, public power issuers, federal power agencies, and
investor-owned utilities, and their affiliates.
He has long-standing
relationships with a great number of utility clients that span many years and
complex transactions, advising them on numerous taxable, tax-exempt, and
tax-advantaged financings of all types for electric, gas, water and waste water
projects and in restructuring and work-outs.
These projects include five different nuclear plants, with financing
through both the public capital market and through the U.S. Department of
Mr. Lyon was one of the leaders
in the development of joint action agencies among municipal utilities. He worked on legislation in 20 states to
authorize their formation and testified before legislatures and legislative
committees in many of these states. He
drafted the first modern indenture for cooperative utilities which served as
the model that is currently used by almost every generation and transmission
cooperative. He worked with TVA in their
exit from the Federal Financing Bank program in the 1980’s and in their
financings since then. Mr. Lyon worked
with the major generation and transmission cooperatives that have exited the
RUS program in structuring and financing their exit.
Mr. Lyon has also worked with
virtually every major investment banking firm and most major domestic and
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