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Overview
David Avila is a partner in the Energy and Infrastructure practice of Paul Hastings and is based in the firm’s New York office. He focuses on project development and finance, private equity, subordinated and mezzanine debt, private placement offerings, asset acquisitions and dispositions, and other corporate transactions in the renewable energy, battery storage, natural gas and infrastructure sectors. Mr. Avila’s clients include both sponsors and lenders, including major corporations, developers, equity investors, investment banks and other institutional investors, banks and financial institutions.
Education
- American University Washington College of Law, J.D., cum laude, 2008
- Member, American University International Law Review
- Duke University, B.A. in Economics, 2002
Representations
- Represented Bayerische Landesbank, New York Branch, Coöperatieve Rabobank U.A., New York Branch, ING Capital LLC, Société Générale and Bank Hapoalim B.M, as coordinating lead arrangers, on an approximately $304 million financing of the Tierra Bonita project, an approximately 306 MWac solar project in Pecos County, Texas sponsored by Ashtrom Renewable Energy. The offtake structure of the project includes both a 20-year power purchase agreement and a 10-year PTC transfer agreement. The Tierra Bonita project is one of the very first project-financed solar projects in the U.S. with a solar PTC transfer agreement under the Inflation Reduction Act.
- Represented GE Energy Financial Services, Inc. and the other shareholders of EVM Energía del Valle de México, S.A.P.I. de C.V. and EVM Energía del Valle de México Generador, S.A.P.I. de C.V. in connection with the sale to Valia Energía, a portfolio company of the global private equity fund manager Actis, of their equity interests in the two companies, which own an approximately 100 MW open-cycle natural gas-fired electricity generation facility and an approximately 850 MW combined-cycle natural gas-fired electricity generation facility located in the municipality of Axapusco, Estado de México, Mexico.
- Represented MUFG Bank, Ltd., Société Générale and Truist Securities, Inc., as coordinating lead arrangers, and the joint lead arrangers, in a $779 million construction bridge financing in connection with Swift Current Energy’s 800 MWdc Double Black Diamond Solar Project located near Springfield, Illinois.
- Represented BNP Paribas, Crédit Agricole Corporate and Investment Bank, Export Development Canada, and MUFG Bank, Ltd. in a $534 million construction-to-term loan and tax equity bridge loan financing in connection with Innergex Renewable Energy Inc.’s 329.8 MW Boswell Springs Wind Project located in Albany County, Wyoming.
- Represented the equity investors, KOSPO and KIND, on their investment in and the project development and financing of the Trumbull Energy Center, a 940 MW combined gas turbine power generation facility in Lordstown, Ohio.
- Represented First-Citizens Bank & Trust Company and MUFG Bank, Ltd., as coordinating lead arrangers, and the agents and lenders on a $300 million construction-to-term and tax equity bridge loan financing for the construction and expansion of Middle River Power’s 500 MW portfolio of battery energy storage projects in California, with offtake agreements paired with existing co-located gas-fired peaker facilities.
- Represented GridPoint, a U.S. smart buildings technology company, on a $150 million secured credit facility to finance the company’s energy savings and energy management equipment sale and installation business for corporate customers in the U.S., Canada and Puerto Rico.
- Represented CoBank, ACB, Commerzbank AG, New York Branch, and KeyBanc Capital Markets, Inc., as joint lead arrangers, and the agents and lenders on a $370 million credit facility to refinance Onward Energy’s portfolio of three operating wind projects in Maine.
- Represented Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation, as coordinating lead arrangers, and the construction lenders, agents and note purchasers on a $640 million construction bridge loan to tax equity and back-leveraged private placement financing for Consolidated Edison Development, Inc.’s 456 MW portfolio of three solar projects and one battery energy storage system in California, with a separate tax equity and private placement closing for each project in the portfolio.
- Represented Mizuho Bank and KeyBanc Capital Markets Inc., as coordinating lead arrangers, and CoBank, ACB and Silicon Valley Bank, as joint lead arrangers, on the $220 million construction-to-term financing for Plus Power’s 185 MW battery energy storage facility, located in Kapolei, Hawaii.
- Represented Ares EIF Group on the construction-to-term financing of the St. Joseph Energy Center, a nameplate 700 MW combined-cycle natural gas-fired electric generation facility located in Indiana.
- Represented MUFG Bank, Ltd., First-Citizens Bank & Trust Company and ING Capital LLC, as coordinating lead arrangers, and the joint lead arrangers, agents and lenders on a $600 million credit facility for the acquisition and refinancing of Middle River Power’s portfolio of 10 operating natural gas-fired power plants located in California.
- Represented Albemarle Corporation on a $1.2 billion unsecured syndicated credit facility to finance the acquisition of a majority interest in a lithium mining project in Western Australia.
- Represented the note purchasers on the private placement financing for the construction of the Longitudinal de la Sierra Norte Tramo 2 Toll Road Project in Peru, secured by the securitized payment rights due from the Government of Peru to the concessionaire.