Our areas of focus
Tax credit financing for energy & infrastructure projects
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
Project finance and corporate-level debt solutions
Our debt finance lawyers structure and execute the full range of project- and corporate-level debt solutions, including construction and term credit facilities, acquisition financings, back leverage, bridge loans, letter of credit facilities, and capital markets offerings. Grounded in our extensive project development and regulatory experience, we ensure debt structures are optimized for bankability and aligned with sponsor objectives.
We offer a dual-perspective advantage, leveraging our deep experience representing both lenders and borrowers to anticipate counterparties’ negotiating positions and create efficient pathways to closing. Our team’s sector immersion ensures financing strategies reflect real-time market conditions and technology-specific considerations.
Our market presence
- Closed more than 100 debt financings, including facilities coordinated with tax equity and tax credit transfer structures
- Lead counsel on multibillion-dollar solar + storage, standalone storage, and wind project financings across the United States
- Advise on complex intercreditor arrangements involving bank lenders, tax equity investors, credit buyers, and private credit funds
Private credit financing
As private credit continues to reshape the energy & infrastructure development finance landscape, McDermott is at the forefront, representing direct lenders, institutional investors, credit platforms, and sponsors accessing non-bank capital. Our team structures bespoke credit solutions for development, construction, acquisitions, and portfolio growth, leveraging our understanding of energy assets, risk allocation, market terms, and intercreditor dynamics.
We collaborate with our tax, regulatory, and finance colleagues to deliver fully integrated solutions that meet the commercial needs of both borrowers and lenders.
Our market presence
- Counseled private credit providers on portfolio financings across more than 20 states, supporting commercial solar, utility-scale storage, renewable natural gas, and other assets
- Represented investors in bespoke loan facilities for energy storage and renewable fuels projects totaling more than $100 million
- Advised sponsors and lenders on private credit participation in markets driven by the Inflation Reduction Act of 2022, including hydrogen, storage, and manufacturing tax credit transactions
- Host an annual event offering curated, deal-focused conversations between private credit investors and energy developers, supported by targeted market insights and high-impact networking
Financial markets, commodities, and hedging solutions
Our derivatives and commodity practice enhances the financeability and stability of energy projects by managing exposure to power prices, interest rates, foreign exchange, and key commodities throughout the project life cycle.
We structure Virtual Power Purchase Agreements and Power Purchase Agreement‑linked hedges, contracts for differences, proxy revenue products, heat rate and shaped solutions, and environmental attribute transactions, all designed to increase revenue certainty and align with lender and investor expectations. Our team advises on International Swaps and Derivatives Association and commodity master agreements, collateral and credit support mechanics, and the broader suite of trading and hedging documentation that underpins bankable risk‑management frameworks. We also provide comprehensive counsel on US and international derivatives regulation, supporting compliance while enabling efficient participation in financial and physical markets. Integrated into our debt, tax equity, and private credit offerings, these capabilities strengthen project economics and support long‑term, bankable outcomes.