Richard Hillman

Partner

Contact
F +1 212.822.5326

New York

55 Hudson Yards

New York, NY US 10001-2163

T +1 212.530.5326

F +1 212.822.5326

Richard Hillman is a partner in the New York office of Milbank and a member of the firm's Project, Energy and Infrastructure Finance Group.

Primary Focus & Experience

Mr. Hillman's experience includes advising lenders, sponsors and other project participants on energy, emerging technology and other project and structured finance transactions.

Mr. Hillman’s recent experience includes:

  • Acted for SB Energy on the construction, tax equity and term debt financings of each of the five projects in its cornerstone 1.7GW utility-scale solar portfolio.
  • Acted on numerous other significant utility-scale, distributed generation and community solar transactions including:
    • For the lead arranger on Nexamp’s solar and storage portfolio, when closed the largest debt financing for community solar assets in the United States.
    • For the lead arranger of a financing for a 1.6GW portfolio owned by Cypress Creek Renewables.
    • Representing noteholders on each of the California Flats and Moapa Paiute solar projects.
    • On various debt and tax equity transactions involving solar assets owned by Nexamp, Forefront, Sunnova, True Green Capital, PosiGen, DESRI, 8minutenergy, Vivint Solar, Sunrun, Spruce Finance and SunEdison.
    • On a pro bono representation for Fifth Avenue Committee, a South Brooklyn-based community organization, on its solar electricity initiatives in multi-family affordable housing buildings.
  • Acted on hydro-electric transactions including:
    • For FirstLight on the $650mm note financing of the Northfield Mountain pumped-storage hydro project and its corporate financing and associated restructuring.
    • For LS Power on the note financing of the Seneca pumped-storage project
    • For Pacific Hydro on various financings, including run-of-the-river hydro power facilities in Chile.
  • Acted on wind financings including various financings in connection with the Leeward wind portfolio and Apex Clean Energy owned projects.
  • Acted on MUFG’s $50mm loan to FirstElement, the owner of a US-based hydrogen fuel station network.
  • Acted on numerous conventional power transactions including:
    • For the lead arrangers on the TLB financing of the Patriot and Liberty gas-fired power projects in PJM.
    • For LS Power on various financings, including for the Ocean State, Ironwood, Oneta, Carville and Decatur natural gas fired generation plants.
    • For Ares EIF on the TLB financing of the Newark Energy Center.
    • For MACH Gen, LLC on its term and revolving loans, debtor-in-possession financing and Chapter 11 exit financing.
    • For the lead arranger on various financings of the Cottage Grove, Plains End, Rathdrum and Whitewater natural gas fired generation plants owned by a Tyr-led consortium.
  • Representations on various oil and gas pipeline financings, including Cheniere’s Midship pipeline, Fermaca’s El Encino – La Laguna, La Laguna-Aguascalientes and Villa de Reyes-Aguascalientes-Guadalajara pipelines, the Alder Midstream gas infrastructure business, Epic Energy’s QSN3 Expansion Project and the SEA Gas pipeline.
  • Other representations including electric transmission, battery storage, biomass, road, port, railway, LNG vessel, drillship and social infrastructure projects.

Recognition & Accomplishments

Mr. Hillman has been recognized as a “rising star” by The Legal 500 in both “project finance” and “conventional power”. He co-authored the USA chapter in the International Comparative Legal Guide to Project Finance published by ICLG and has published peer-reviewed papers in the Company and Securities Law Journal and the Australian Resources and Energy Law Journal. He was a student editor at The University of Western Australia Law Review. In 2019 he was awarded the Cornerstone Award from the Lawyers Alliance for New York for his work with Fifth Avenue Committee.

 

Additional Details
Education
  • University of Western Australia Law School, LL.B. (Hons)
  • University of Western Australia, B.Com (Hons)
  • University of Melbourne, Master of Banking and Finance Law
Admissions
  • New York