Overview

About Joseph

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 the US 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 C&I-scale 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. Prior to joining Stoel, Joseph practiced at Vinson & Elkins in New York City.

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Experience

Experience

  • Represented VivoPower USA in the acquisition, development, financing and sale of an approximately 34 MW ground mounted solar photovoltaic generating facility located in Bladenboro, North Carolina, and an approximately 34 MW ground mounted solar photovoltaic generating facility located in Maxton, North Carolina.  The financings consisted of senior secured construction debt, tax equity financing and cash equity investments.
  • Represented 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. 
  • Represented 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.
  • Represented 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.
  • Represented a U.S. developer in the acquisition of a portfolio of solar projects and subsequent debt financing and lease pass-through tax equity financing.
  • Represented sPower in its sale-leaseback tax equity financing with PNC Energy Capital LLC of a California solar facility.
  • Represented Apex Clean Energy in the sale of the 200 MW Sugar Creek wind project in Illinois to a wholly owned subsidiary of Algonquin Power.
  • Represented a solar developer in the sale of two portfolios of development stage assets in the Southeastern U.S.
  • Represented 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.
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Insights & Presentations

Insights & Presentations

  • Moderator, “Unique Innovative Financing for Southeast Renewable Energy Deals,” Southeast Renewable Energy Summit, Atlanta, Georgia, Nov. 2018
  • “Project Finance for Solar Projects” (coauthor), Chapter 7; The Law of Solar Energy: A Guide to Business and Legal Issues, Stoel Rives LLP, Fifth Edition, 2017



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