Experience

Tax Equity and Debt Finance Investment

MetLife

Chadbourne represented Metropolitan Life Insurance Company and MetLife Capital Credit, as the sole lender and tax equity investor, in connection with the construction loan, term loan, and tax equity financing of AES Ilumina, LLC's 24MW solar photovoltaic power plant under construction in Guayama, Puerto Rico. AES Ilumina is a subsidiary of AES Solar, a joint venture between The AES Corporation and Riverstone Holdings LLC. This utility scale project will sell all of its output under a 20-year power purchase agreement to the Puerto Rico Electric Power Authority.

The Chadbourne team on the deal was led by New York partners Paul Weber and Eli Katz and included John Marciano, Noah Pollak, James Berger, Robert Shapiro, Scott Bank and Sue Cowell.