Joseph Nussbaum is a partner in the project finance group at Stoel Rives LLP and a member of the firm’s renewable energy team. With a particular focus on debt and tax equity financing for the U.S. solar industry, Joseph’s practice centers around helping renewables clients evaluate, structure, and execute on commercial transactions, from development-stage contracts early in a project’s lifecycle through to purchase and sale deals, and all manners of financings in between. Joseph regularly advises project sponsors, buyers, lenders and investors on tax equity partnerships, cash equity investments, construction and term loan financings, development loan facilities, joint ventures, and purchase agreements, and on issues relating to collateral security, guaranties, and credit support for power procurement and other corporate transactions. Joseph assists clients with drafting and negotiating term sheets and performing asset-level project due diligence for utility and distributed generation solar facilities across the country.

Joseph has also worked for many years in the leveraged finance arena on secured and unsecured commercial lending, mezzanine loans, syndicated credit facilities, and private placements in the natural resources, power and shipping sectors, including cross-border project financings.


Fordham University School of Law, J.D., 2010, magna cum laude; Member, Environmental Law Review

Yale University, B.A., History, 2005



New York


  • Representation of Silicon Ranch Corporation in connection with the combined debt and tax equity financing of the 140 MW Lumpkin solar project and 152 MW Snipesville II solar project in Georgia.
  • Representation of Silicon Ranch Corporation in connection with debt and tax equity financing of the 113 MW Lancaster solar project in Georgia.
  • Representation of solar developer client in tax equity financing of 150 MW solar project in Arizona.
  • Representation of solar developer client in tax equity and back-leverage debt financing of 50 MW solar project in California.
  • Representation of independent power producer client in $700 million construction warehouse revolving debt facility.
  • Representation of renewable project developer in a combined joint venture, development loan, and sale transaction of a 60 MW solar project under development in Virginia.
  • Representation of independent power producer in tax equity financings of distributed generation solar project portfolios.
  • Representation of solar developer client in structuring and formation of early-stage development partnerships.
  • Representation of 1st Source Bank in the combined debt and tax equity financing of three portfolios of Illinois community solar projects representing approximately 37 MW.
  • Representation of 1st Source Bank in the financing of the 11 MW Spartan Solar project located on the campus of Michigan State University through a combination of construction and permanent debt and partnership flip tax equity financing.
  • Representation of 1st Source Bank in construction and term loan and tax equity financings of portfolios of 13.3 MW and 13.8 MW community solar projects in Minnesota developed by Nautilus Solar Energy.
  • Representation of 1st Source Bank in financings of utility-scale, behind-the-meter, and community solar project portfolios for various sponsors across multiple states involving tax equity financing with investor syndication and construction and term debt.
  • Representation of alternative lender in $35 million corporate debt financing in support of solar developer activities.
  • Representation of a U.S. developer in the acquisition of a portfolio of solar projects and subsequent debt financing and lease pass-through tax equity financing.
  • Representation of sPower in its sale-leaseback tax equity financing with PNC Energy Capital LLC of a California solar facility.
  • Representation of Apex Clean Energy in the sale of the 200 MW Sugar Creek wind project in Illinois to a wholly owned subsidiary of Algonquin Power.
  • Representation of a solar developer in the sale of two portfolios of development stage assets in the Southeastern U.S.
  • Representation of VivoPower USA in the acquisition, development, financing, and sale of an approximately 34 MW solar facility in Bladenboro, North Carolina, and an approximately 34 MW solar facility in Maxton, North Carolina. The financings consisted of senior secured construction debt, tax equity financing and cash equity investments.
  • Representation of Clean Line Energy in its sale of the assets of the Plains & Eastern Clean Line HVDC transmission project in Oklahoma to NextEra Energy Resources.
  • Assisted a major U.S. producer of biomass wood pellets in a secured credit facility financing in connection with its initial public offering.
  • Assisted sponsor in negotiating project finance documentation for a run-of-the-river hydropower project located in Chile with a consortium of multilateral and commercial banks.
  • Assisted private equity fund in a letter of credit and fund guaranty transaction in support of portfolio company’s energy development activities in Mexico.
  • Assisted arranger bank in negotiations and legal due diligence in support of syndication to finance the construction of a demand-response compressed air energy storage facility in Texas.
  • Assisted mezzanine lender in a holdco term loan to a company engaged in the manufacture of emissions scrubbing technology.


Insights & Presentations

  • “Project Finance for Solar Projects” (co-author), Chapter 7; The Law of Solar Energy: A Guide to Business and Legal Issues, Stoel Rives LLP, Sixth Edition, 2022
  • Panelist, “Environmental Law—To Explore Pressing Changes in Light of Covid,” Fordham University School of Law Bridge the Gap Program, January 2021
  • Moderator, “Unique Innovative Financing for Southeast Renewable Energy Deals,” Southeast Renewable Energy Summit, Atlanta, Georgia, November 2018


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