Elizabeth Sluder is a partner in the Los Angeles office of Morrison & Foerster. She focuses her practice on project finance, mergers and acquisitions, private equity, and general corporate advice.
Ms. Sluder has substantial experience representing clients in renewable energy transactions, including construction and term debt financings, tax equity investments, and negotiating supply agreements, construction contracts and offtake arrangements. She also represents lenders and borrowers in secured lending as well as private banking and mezzanine and junior capital financing. Her financing experience also includes handling sports franchise financings and large syndicated credit facilities.
In addition, Ms. Sluder has represented clients during the formation and negotiation of investment fund vehicles, including onshore and offshore funds, and SBIC funds.
Ms. Sluder received her B.S.F.S. from Georgetown University in 2001 and her J.D. from Tulane University Law School in 2004.
- Apex Clean Energy, Inc. in connection with:
- a $400 million construction loan provided by Rabobank and BayernLB and mezzanine debt financing provided by Ares for the Kay Wind Project, a 300 MW wind farm in Oklahoma;
- a $200 million construction loan provided by BayernLB for the Grant Wind Project, a 150 MW wind farm in Oklahoma; and
- a bridge loan provided by a Macquarie affiliate for the Balko Wind Project, a 300 MW wind farm in Oklahoma.
- BayWa r.e. Wind, LLC in connection with:
- the sale of the 80 MW Beethoven Wind Project in South Dakota to Northwestern Energy
- securing a tax equity investment in the 20 MW Brahms Wind Project in New Mexico from Union Bank and the subsequent sale to Macquarie; and
- the sale of the 15 MW Anderson Wind Project in New Mexico to Goldman Sachs.
- Cathay Bank, as tax equity investor, in a series of investments in residential solar investment funds.
- EDF Renewable Energy in connection with:
- the acquisition of the 250 MW Roosevelt Wind Project in New Mexico from Infinity Wind Holdings;
- the sale of the 250 MW Lundgren Wind Project in Iowa to MidAmerican Energy;
- the sale of the 20 MWac Longboat Solar Project located in California to Duke Energy; and
- the acquisition of the 200MW Moapa Solar Project in Nevada from RES.
- Goldman Sachs in connection with its acquisition of the tax equity stakes in four operating wind farms owned by a subsidiary of KeyBank.
- Hannon Armstrong, as lender, in a sale-leaseback financing of a 27 mile, 345 kV transmission line to be used in connection with the development of an estimated 600 MW of renewable energy projects in Texas. This project was a finalist for the Power Finance and Risk 2016 Deal of the Year.
- juwi in connection with its CWS Wind Project in Minnesota, which included (i) construction and term loan financing provided by DZ Bank, (ii) tax equity financing provided by U.S. Bank, and (iii) the sale of 90% of the sponsor equity to a BlackRock affiliate.
- Oak Creek Energy in connection with the construction and term loans by OPIC and North America Development Bank for the Tres Mesas Wind Project, a 150MW wind farm in Mexico. This deal won the MIREC project of the Year Award 2015.
- PNE in connection with the sale of the development assets of the 50MW Spiritwood Wind Project in North Dakota to an affiliate of Geronimo.
- RPM Access in connection with construction and term project financing for a 41 MW wind project in Iowa.
- An Australian infrastructure fund in its sale of its U.S. wind energy interests comprised of an approximately 3.1 GW wind project in Tehachapi, California, to a private equity fund.
- A leading U.S. bank as a tax equity investor in approximately 700 MWs of wind power projects.
- A national developer of utility-scale wind energy facilities in the sale of 99% of its stake in a 298 MW wind project to a NYSE-listed power generation and infrastructure company.
- Served as special counsel on renewable energy issues to the Official Committee of Unsecured Creditors of SunEdison, Inc.
- A Canadian pension fund in its $500 million investment in a 1,500 MW wind farm portfolio owned by North America’s largest independent wind power generation company.
NEGOTIATION OF PROJECT DOCUMENTS
- Apex Clean Energy, Inc. in connection with negotiating power purchase agreements with Western Farmers Electric Cooperative and The Public Service Company of Oklahoma, an American Electric Power subsidiary.
- BayWa r.e. Wind, LLC in connection with negotiating multiple turbine supply agreements with Vestas and GE.
- EDF Renewable Energy, in connection with:
- its global procurement of wind turbines and turbine components, and structuring for PTC safe harboring of those turbines; and
- Negotiating virtual power purchase agreements related to energy generated from wind projects located in Texas and Oklahoma.
- An international technology company in preparing its power purchase agreement template.
PRIVATE EQUITY AND FUND FORMATION
- The formation of one of the few woman majority-owned mezzanine funds in the country that has a particular interest, although not exclusive focus, on women-owned and minority-owned businesses.
- A People’s Republic of China-based investment management firm and its founder in the launch of its first China-focused hedge fund.
- Formation of asset management firm, del Rey Global Investors, LLC, which primarily invests in international and global equities.
- del Rey Global Investors, LLC in its initial financing by Northern Lights Capital Group.
- Endeavour Structured Equity and Mezzanine Fund in its investment in:
- the owner of more than 20 upscale bowling lounges in the U.S. and Canada;
- a locally-owned radio group in Portland, Oregon, consisting of six radio stations and a state-of-the-art performance and recording venue; and
- its acquisition financing of a shipyard capable of new construction, ship repair and dry docking.
M&A (NOT ENERGY-RELATED)
- A California-based buyout firm in the acquisition of a majority stake in an economic and labor market research firm, which has primarily focused on providing community colleges with regional job market data.
- An international publishing company in its acquisition of a Michigan-based publisher of custom textbooks and lab manuals for the higher education market.