New York Power Authority Structures Landmark 30-Year Prepay Energy Deal
2 minute read | December.01.2025
Seth Norris
Senior Associate
Washington, D.C.
Seth advises energy companies and power developers in financing and executing capital-intensive energy and storage projects.
Seth advises sponsors, lenders, investors, utilities, cooperatives and corporates across the full lifecycle of renewable and traditional power and energy projects - from early development through complex financings, commercial contracting and closings. He structures offtake and hedging arrangements; EPC, BOP and long-lead procurement; project and back-leverage debt; tax equity and preferred equity; credit support and LC facilities; and tax credit transfer arrangements. His experience spans utility-scale and distributed solar, energy storage, wind power, natural gas, nuclear, and programmatic procurement for public power, with a focus on projects in North and South America.
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• Intersect Power on approximately $3.1 billion of solar-plus-storage construction and LC financings for the Lumina I/II (Texas), Radian (Texas), Athos III (California) and Oberon I/II (California) portfolios.
• CoServ Electric Cooperative on $475 million securitized bond issuance for costs arising from Winter Storm Uri pursuant to a newly adopted Texas statute developed in conjunction with other Texas cooperatives. This work was recognized by Financial Times as the winner of the 2022 FT Innovative Law Firm Award for Reinventing Legal Practice.[SN1.1]
• New York Power Authority on form PPA guidance used in renewable RFP processes and subsequent negotiations.
• Basin Electric Power Cooperative on a $700 million Rule 144A/Reg S first-mortgage offering supporting capital expenditures and general corporate purposes.
• Catalyze Holdings on $200 development loan for financing pipeline of distributed solar and battery storage projects.[SN2.1]
• Represented a renewable energy developer in connection with construction, term debt, letter of credit, and tax equity financings for multiple utility-scale battery energy storage projects.
• Represented a renewable energy developer in connection with construction, term loan, letter of credit, and tax equity financing for utility-scale solar and battery storage projects in California and Arizona.
• Represented a renewable energy developer in connection with green loan and letter of credit financings for utility-scale solar, wind, and battery storage projects in Chile and Mexico.
• Sunraycer Renewables on $200 million development loan for financing pipeline of solar and battery storage projects.[SN3.1]
• Represented a corporate investor in connection with a tax equity investment in a co-located utility-scale solar and battery energy storage project in Texas.
Catalyze Secures $200 Million HoldCo Facility from Deutsche Bank to Accelerate Clean Energy Growth
2 minute read | September.12.2025
