Milbank, Tweed, Hadley & McCloy LLP has advised Onyx Renewable Partners L.P. (“Onyx”), a developer of commercial and industrial (“C&I”) and utility scale solar projects in North America, on its tax equity partnership with RBC Capital Markets (“RBC”) for the financing of 16 solar PV projects totaling 60 MW across six states.
The projects will provide energy to multiple customers including municipalities, C&I, utilities, and military housing. The projects include solar installations to serve over 4,000 homes on four US military bases as part of a strategic alliance with Corvias Solutions to implement renewable energy offerings across Corvias’ public-private partnership portfolio. The closing, announced on August 9, marks Onyx’s second tax equity partnership with RBC.
The Milbank team was led by Global Project, Energy and Infrastructure Finance Group partner Allan Marks, with associates Thomas Quirxtner, Katie Kincade and Miguel Duran; Financial Restructuring Group partner Gregory Bray; and Tax special counsel Drew Batkin.
Mr. Marks said: “Onyx has shown immense dedication to renewable energy projects within the US. We are delighted that Milbank was able to assist Onyx in expanding its partnership with the financial backing of RBC, and that some of these projects will provide solar power to thousands of our service men and women and their families.”
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm that provides innovative legal services to clients around the world. Founded in New York 150 years ago, Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Seoul, Singapore, Tokyo and Washington, DC.
Milbank’s lawyers collaborate across practices and offices to help the world’s leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives.
