Richard M. Cogen

What do you focus on?

I work closely with clients to develop, finance, buy and sell energy and solid waste projects. Much of my practice involves working with senior management on complex projects and financings. I have recently assisted clients in acquiring and financing over two billion dollars’ worth of solar energy projects and in developing large fossil fuel and wind electric generating facilities and electric transmission projects. Clients value my ability to understand and keep sight of the big picture, while getting the details lined up in a way that helps them to achieve their objectives.

Project experience

• Representation of sponsor in connection with $300 million residential solar system acquisition and finance program involving systems located in California, Arizona, and Colorado, including project-level debt.
• Representation of sponsor in connection with $500 million residential solar system acquisition and finance program involving systems located in California and Hawaii, including project-level debt.
• Representation of major financial institution’s principal investing group in connection with the acquisition, construction, and financing of multiple utility and commercial scale solar energy projects in Nevada, California, Georgia, New Jersey, and the Caribbean.
• Representation of equity investor in the acquisition and financing of a municipal solid waste-to-energy facility in the Southern U.S.
• Representation of the developer in the development and financing of a municipal solid waste-to-energy facility in the Caribbean
• Representation of project sponsor in $30 million holding company loan to provide permanent financing for community net metered solar energy projects
• Representation of project sponsor in $10 million of project-level loans to provide permanent financing for community net metered solar energy projects
• Representation of international energy company in the formation and implementation of two joint development companies (with a community solar energy developer) for the development, acquisition, and financing of community net metered solar energy projects across the United States
• Representation of take-out buyer in the acquisition of two portfolios of solar energy projects in Massachusetts
• Representation of take-out buyer in the acquisition of a portfolio of solar energy projects in Minnesota
• Representation of project sponsor in the tax equity financing of a 16 MW portfolio of community solar projects in Minnesota
• Representation of project sponsor in sale-leaseback financing for portfolio of seventeen community solar projects in Massachusetts
• Representation of investor in sale-leaseback financing of $75 million portfolio of solar energy projects in the Northeast and Mid-Atlantic regions
• Representation of project sponsor in the tax equity and project level debt financing of a portfolio of solar energy projects in the Mid-Atlantic region
• Representation of a State green bank in the debt financing of a portfolio of energy efficiency projects
• Representation of lender in connection with financing of a portfolio of $43MM of solar projects located in California, providing power to government institutions and utilizing a lease pass-through structure.
• Representation of project sponsor in connection with the development and financing of utility scale solar energy projects totaling up to 100 MW in California.
• Representation of the project sponsor in connection with the development, financing, acquisition, and disposition of four utility scale solar energy projects in Puerto Rico.
• Representation of solar energy developer in the debt financing and EPC contract for a 16 MW solar energy project in New Jersey.
• Representation of affiliates of Morgan Stanley in the permanent debt and equity financing of three portfolios of residential solar energy facilities totaling over $200 million.
• Representation of affiliates of a major investment bank with respect to a $100 million warehouse loan facility to support the acquisition and debt financing of four portfolios of residential solar energy facilities totaling over $200 million in value.
• Representation of affiliates of a major investment bank in the permanent debt and equity financing of a 20 MW solar energy generating facility.
• Representation of the project sponsor in the $21 million permanent debt financing of a portfolio of operating solar energy generating facilities located in the western and mountain states.
• Representation of major investment bank with respect to its tax credit equity investment in two significant wind project portfolios (totaling over 700 MW) involving projects in seven states.
• Representation of SunPower in acquisition of development pipeline of approximately 1,000 MW of late-stage and early-stage utility-scale and DG solar energy projects
• Representation of private equity fund in the bidding and due diligence process for acquisition of a controlling equity investment in a wind energy development company with a pipeline of approximately 45 projects in more than a dozen states
• Representation of wind energy developer in the sale of a pipeline of wind energy projects under development in Texas and Oklahoma
• Representation of Babcock & Brown in the acquisition of the Cross-Sound Cable and the related debt financing.

Presentations

• “Due Diligence for Landfill and Brownfield Projects,” EUCI Solar Project Development on Landfills/Brownfields/Utility Coal Combustion Residual Sites, Philadelphia, PA, December 3, 2019
• “Community Solar and Battery Storage,” Novogradac 2019 Financing Renewable Energy Tax Credits Conference, Washington, DC, November 8, 2019