Debt &
Project Finance
McDermott Will & Schulte’s energy & infrastructure project finance team advises sponsors, investors, lenders, utilities, and private credit providers on the full energy and infrastructure project finance life cycle. With one of the deepest benches across project finance, tax, regulatory, derivatives, and commercial transactions, our team delivers deal-tested insights and practical, financeable solutions that help advance complex and critical projects with certainty and speed.
Our areas of focus
We are widely recognized for our leading US energy tax equity work, having advised on hundreds of transactions across the renewables, storage, fuel, hydrogen, nuclear, and carbon capture markets. Our integrated tax, project finance, regulatory, and commercial teams position clients to maximize value under the federal tax code, including production tax credits; investment tax credits; Sections 45Q, 45V, and 48C; energy community; domestic content; and low-income bonus credits.
We help clients navigate eligibility, safe harbor strategies, structuring options, and risk allocation with precision, delivering clarity in a fast-evolving policy environment.
Our market presence
- Navigated more than 350 tax equity engagements in the last three years
- Advised on first-of-their-kind storage, solar + storage, and hybrid financings
- Became first movers in tax credit transferability, having structured more than 125 transfer-related deals, including more than 60 direct transfers and 36 bridge loan facilities
Americas Renewables Deal of the Year – Mammoth Solar
Project Finance International (PFI) Awards 2025
Project finance debt transactions
- Represented Doral Renewables in the development and financing of Mammoth Solar, a $1.5 billion, 1.3 GWac project in Indiana set to be the largest solar facility in the US and Western Hemisphere. Spanning four phases, it will power 275,000 homes annually starting Q4 2026. This transaction was awarded Proximo’s Emerging Energy award
- Represented Invenergy in connection with an approximately $547 million debt facility consisting of a construction loan, bridge loan, letter of credit facility, and a term loan commitment provided by a syndicate of banks arranged by CoBank, ACB related to a 275 MW solar facility co-located with an approximately 1,100 MWh battery storage facility in Arizona
- Represented Apex Clean Energy in a first-in-kind joint venture with SK Gas, a Korean oil major, and project financing with several large banks to develop and finance a portfolio of more than a dozen standalone storage projects with debt and tax credit transfers. Each planned project will be financed for about $150 million, bringing the aggregate value of this project to around $1.8 billion upon completion