Jeffrey A. Chester

Jeffrey A. Chester

Education

The Pennsylvania State University (B.A., 1977)
University of Pennsylvania Law School (J.D., 1981)

Bar Admissions

California

Jeffrey Chester is a partner in the firm’s Project Finance and Development Group, resident in the Los Angeles office heading up the firm’s renewable energy efforts. Mr. Chester has a broad-based practice representing developers, sponsors, lenders, and investors. Mr. Chester has a particular focus on renewable energy, having been centrally involved in the development of the equity, debt, and capital markets for renewable energy projects and closing more than 70 wind and solar power projects throughout the United States.

Mr. Chester’s work on renewable energy finance transactions includes representing a broad range of participants in construction and term debt, backleverage, tax equity (partnership flips and sale leasebacks), private equity capital financings, mergers and acquisitions (including purchases and sales of projects, pipelines and companies), and international and strategic joint ventures. Additionally, Mr. Chester has worked on initial public offerings, commercial paper, medium-term notes, eurobond offerings, structured finance and credit enhancements, leveraged buyouts and other complex financial transactions.

On the renewable energy development side, Mr. Chester leads teams regularly involved in negotiating power purchase agreements, hedges and other off-take arrangements, turbine and solar panel supply agreements, EPC agreements, and addressing the full panoply of development issues including transmission and interconnect, real estate procurement and environmental issues.

Mr. Chester has been recognized in Chambers USA (2008-2015) as “a celebrated expert in renewables M&A” and “regarded as one of the top deal makers in California” who is “a great problem solver” and “very entrepreneurial and commercially oriented, with a firm grasp of both the law and what it takes to actually get a deal done.” He was also recognized by Legal Media Group Clean Technology & Renewable Energy 2013 on “The CleanTech 100,” a list of the top 100 practitioners of clean technology law across the finance and transactional, regulatory, intellectual property practice areas, and who colleagues refer to as “one of the best and most complete transactional attorneys out there.”

Since 2005, Mr. Chester has served as Chairman of Infocast’s Wind Power Finance & Investment Summit. The summit focuses on developments in wind power finance and the investment markets while providing industry leaders the opportunity to share their perspectives and network with project developers, lenders, investors, financial innovators and other industry players. Mr. Chester presents the “Chairman’s Wind Power Market Overview” and moderates the “Debt Market Outlook” panel at the summit each year. In addition to his participation in the summit, Mr. Chester is also a frequent speaker before trade associations, industry conferences, and professional seminars.

Mr. Chester is admitted to practice in California.

Representative Matters

  • A national developer of utility-scale generation facilities in connection with a $400 million construction loan provided by two banks for the Kay Wind project.

  • A national developer of utility-scale generation facilities in connection with holdings financing for the 300 MW Kay Wind project together with a major grid-scale energy storage company.

  • A national developer of utility-scale generation facilities in connection with the sale of the 300 MW Kay Wind project to an electric utility holding company for approximately $500 million.

  • A national developer of utility-scale generation facilities in connection with a $200 million construction loan provided by a leading commercial bank in Germany for the Grant Wind project.

  • A national developer of utility-scale generation facilities in connection with holdings financing for the 150 MW Grant Wind project together with a major grid-scale energy storage company.

  • A leading energy supplier in connection with financing of the 80 MW Beethoven Wind project.

  • A leading energy supplier in connection with the sale of the 80 MW Beethoven Wind farm to a major utility company for $143 million.

  • One of the nation’s largest producers and transporters of energy in connection with its sale of the CID Solar, Cottonwood Solar, and Catalina Solar 2 projects to a leading energy supplier for a total of 84 megawatt peak (MWp).

  • A private equity and infrastructure investment firm in connection with the acquisition, construction loan, tax equity, and back leverage financing of the 300 MW Kingfisher wind project.

  • A developer in connection with the construction and term loans provided by two banks of the 150 MW Tres Mesas wind project. This deal won the MIREC project of the Year Award 2015.

  • A developer in connection with the purchase and sale agreement provided by two investment firms of the 150 MW Tres Mesas wind project. This deal won the MIREC project of the Year Award 2015.

  • A photovoltaic company in connection with the purchase and sale agreement of the 15 MW Morelos Solar PV project with an electric utility holding company.

  • One of the nation’s largest producers and transporters of energy in connection with its acquisition of the 250 MW Roosevelt Wind Project in New Mexico from a leading wind energy project developer.

  • One of the nation’s largest producers and transporters of energy in connection with its sale of the 250 MW Lundgren Wind Project to an energy company based in Iowa.

  • A global investment firm in connection with its acquisition of tax equity stakes in two operating wind farms from a subsidiary of a provider of investment banking services.

  • A developer in connection with the financing and sale of a 150 MW Tres Mesas Wind Project in Mexico. This project won the MIREC Project of the Year Award 2015.

  • A national developer of utility-scale wind energy facilities in connection with the development and sale of the 300 MW Balko Wind Project.

  • A national developer of utility-scale wind energy facilities in assisting with the sale of 100 MW of wind energy capacity through a Renewable Energy Purchase Agreement with an Oklahoma electric cooperative.

  • A national developer of utility-scale wind energy facilities in connection with the sale of 200 MW to one of the largest electric utilities in the United States.

  • A national developer in its construction loan and mezzanine debt financing for a 300 MW wind farm in Oklahoma, as well as the purchase and sale agreement for the sale of the project at commercial operation.

  • A national developer of utility-scale wind energy facilities in connection with the negotiation of power purchase agreements with Public Service of Oklahoma and Western Farmers Electric Cooperative for a fully contracted 300 MW wind power project in Oklahoma.

  • An independent developer, owner and operator of wind farms in the Midwest in construction and term loan financings for a 136 MW wind portfolio and tax equity financing for a 50 MW wind power project.

  • An international developer of renewable energy projects on a construction and term loan financing for a 30 MW wind project located in southwestern Minnesota, and subsequently in its sale of the wind farm to one of the world’s largest private equity funds and simultaneous tax equity financing.

  • A national developer of utility-scale wind energy facilities both onshore and offshore, in the sale of 99 percent of its stake in a 298 MW wind power project to a NYSE-listed power generation and infrastructure company.

  • 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.

  • One of the leading U.S. banks as a tax equity investor in approximately 700 MWs of wind power projects.

  • The U.S. subsidiary of a leading European utility in the acquisition of a 4,000 MW development pipeline and management team.

  • A major international Korean company in the development and financing of Solar PV Projects in the U.S. totaling 130 MWs.

  • A developer in the negotiation of a 1,550 MW PPA with a California utility — the largest wind PPA ever signed.

  • A leading German developer in the development, construction, financing and sale of multiple projects.

  • An Australian infrastructure fund in the $325 million sale of a 3,100 MW project in development to a private equity fund.

  • A developer in the negotiation and structuring of a large equity commitment from a top-tier Wall Street investment banking house.

  • A private equity fund in the acquisition, tax structuring and financing of a project in California.

  • An Australian infrastructure fund in the acquisition, development, tax structuring and financing of multiple projects.

  • A developer in the sale of a portfolio of development projects to a Spanish company.

  • A major utility in the acquisition of a wind project in development.

  • A wind development company with an announced pipeline of over 800 MW in its sale to one of the leading wind energy developers in the United States.

  • The lenders for construction financing of a 120 MW project in Texas.

  • The developers as lead counsel in the Altamont Avian cases.

Email Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.

©1996-2017 Morrison & Foerster LLP. All rights reserved.