Michael Masri

Michael Masri

New York
+1 (212) 408-5121
1301 Avenue of the Americas
New York, NY 10019-6022
United States
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Michael Masri is a transactional lawyer whose principal areas of practice are tax and project finance. Mr. Masri regularly advises his clients on energy tax credits, government incentive programs, project development and finance, mergers and acquisitions, and all forms of leasing transactions.  Over the past few years, Mr. Masri has regularly represented investors and developers in tax equity financings across the renewable energy sector, including wind, utility scale solar, distributed solar and biomass.  Some of his recent client representations include NRG Energy, Terra-Gen Power, LS Power, First Reserve Energy, Metlife and GE Capital.

Mr. Masri also advises clients in a broad range of federal income tax matters, including domestic and cross-border mergers and acquisitions, restructurings, financings, private equity, and securities offerings.

Prior to joining Chadbourne & Parke, Mr. Masri was a tax associate at another large international law firm.

Publication Highlights

Project Finance

  • Represented NRG Energy, Inc. in connection with the tax equity financing of 12 operating wind farms located in eight states with a combined capacity of 947 MW, monetizing future tax attributes that will be generated primarily by wind projects acquired out of bankruptcy from Edison Mission Energy and is structured to preserve NRG’s ability to monetize the cash flows from these assets through transfers to NRG’s recently-formed yield-co, NRG Yield Operating LLC.
  • Represented the lenders in a US$222 million construction loan for the 150 MW Border Winds project in Rolette County, North Dakota and a US$286 million construction loan for the 200 MW Pleasant Valley Wind project in Mower and Dodge Counties, Minnesota.
  • Represented NRG Energy, Inc. in connection with a US$100 million tax equity lease financing transaction with Credit Suisse for a portfolio of residential rooftop solar projects.
  • Represented NRG Energy, Inc. in connection with a US$40 million tax equity financing transaction with US Bank for a portfolio of residential rooftop solar projects.
  • Represented Atlantic Power Limited Partnership (APLP) and its subsidiaries, as borrower and guarantors, in connection with new senior secured credit facilities comprising a US$600 million term loan B facility and a US$210 million revolving credit facility. APLP, which owns a portfolio of 17 power generation facilities located in various states in the US and in several provinces in Canada, is a subsidiary of Atlantic Power Corporation.
  • Represented a subsidiary of Goldman Sachs & Co. and two other owners in the sale of Solar Gen 2 LLC, the owner of a 150 MW solar photovoltaic under development in the Imperial Valley in California.
  • Represented GE Energy Financial Services, Inc. in its construction period investments and subsequent partnership flip financings for (i) the US$375 million Chisholm View Wind Project, a 235 MW wind energy project in Oklahoma, (ii) the US$305 million Prairie Rose Wind Project, a 200 MW wind energy project in Minnesota and (iii) the US$370 million Buffalo Dunes Wind Project, a 250 MW wind energy project in Kansas.
  • Representing the lead arranger in connection with the financing of the 614 MW gas-fired Oakley Power Project in Contra Costa, CA.
  • Represented the lenders in the senior secured bank financing of the US$842 million Woodbridge Energy Center, a 700 MW natural gas-fired generation project in New Jersey.
  • Represented LS Power in connection with the financing of its 170 MW Centinela Solar Energy project located near El Centro, CA.
  • Represented LS Power in connection with the financing of its 127 MW Arlington Valley Solar Energy II project near Arlington, AZ.
  • Represented the sponsor in the acquisition and financing of the approximately US$3 billion 550 MW Desert Sunlight photovoltaic solar power project in Riverside County, California.
  • Represented the sponsor in the sale of a 150 MW windfarm in California for approximately US$450 million.
  • Represented Metlife Capital Credit in the acquisition and tax equity financing of a 35 MW photovoltaic solar generating facility in Webberville, Texas.
  • Represented the lenders in the senior secured bank financing of the US$842 million Woodbridge Energy Center, a 700 MW natural gas-fired generation project in New Jersey.
  • Represented the lenders on the financing of the 674 MW combined-cycle Salem Harbor Power Station in Salem, Massachusetts. The Coordinating Lead Arrangers for the financing were MUFG Union Bank, GE Energy Financial Services and BNP Paribas.

Mergers & Acquisitions

  • Represented Rockwell Collins, Inc. in its acquisition of ARINC Incorporated, a portfolio company of The Carlyle Group, for US$1.39 billion.
  • Represented Tenaska Capital Management, LLC in the acquisition by its affiliate of US Power Generating Company, which owns and operates 53 generating units in Queens and Brooklyn that have capacity sufficient to serve approximately 20 percent of the overall electricity load in New York City.
  • Represented Hess in connection with its acquisition of American Oil & Gas for approximately US$445 million in Hess stock.
  • Represented Excel Maritime Carriers Ltd. in connection with its acquisition of Quintana Maritime Limited for US$2.45 billion.
  • Represented SSAB Svenskt Stål AB in connection with its acquisition of Canadian steel producer, IPSCO Inc., for approximately US$7.7 billion.
  • Represented Just Energy Group, one of the largest competitive green energy retailers in North America, in the sale of Hudson Energy Solar Corp., its commercial solar development business with an operating portfolio consisting of approximately 101 projects, to TerraForm Power Inc. and SunEdison, Inc., global leaders in renewable energy services.

Capital Markets

  • Represented Calpine in connection with its US$1 billion Senior Note Offering.
  • Represented Inn Of The Mountain Gods Resorts & Casino in its offer to exchange its outstanding 12% Senior Notes due 2010 for (1) new 8.750% Senior Notes due 2020, (2) new Senior PIK Notes due 2020 and (3) a pro rata amount of US$18 million in cash.


Mr. Masri is recognized as a rising star by Super Lawyers.

Professional background

Approved as a Certified Public Accountant (CPA), 2003



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New IRS guidance for developers of wind farms and other renewable energy projects that qualify for production tax credits modifies the safe harbor period in which a project can be...
Tags: Chadbourne, construction start, investment tax credit, IRS, ITC, michael masri, Notice 2016-31, PTC, renewable energy, safe harbor, Scott Cockerham, solar, starting construction, Tax Credits, wind
Several prominent wind farm developers and lenders met in mid-April with the IRS and Treasury in two separate meetings pushing for additional guidance relating to what wind...
Tags: IRS, masri, power, PTC, PTCs, renewable energy, Renewables, Tax Credits, tax equity, tax-equity, wind
The recent proliferation of yieldcos has begun to change the renewable energy landscape by ramping up the demand and price for renewable energy operating assets and accelerating a...