Elina Coss represents clients in numerous cutting-edge transactions in the development, financing, acquisition, workout and disposition of energy and infrastructure projects, with a particular emphasis on renewable energy sectors such as solar, wind, and energy storage. Her clients consist of sponsors, developers, lenders, investors and other participants in a broad variety of complex asset-based financings at all levels of the capital stack, including development, construction, back-leverage, warehouse and mezzanine financings, tax equity, preferred equity and cash equity transactions, tax credit transfer transactions, capital market securitizations, and forward flow financings. Elina is also experienced with the geothermal, nuclear, CCUS, green hydrogen, energy efficiency, water, and distributed energy resources industries, as well as with joint ventures and the disposition and acquisition of energy and infrastructure assets.
Experience
Matters handled prior to joining Mayer Brown:
Represented TransGrid Energy, an affiliate of Hanwha FutureProof, on $1.4 billion in debt and tax credit financings supporting battery storage projects in Arizona with a combined capacity of 450 MW
Represented affiliates of Brookfield Renewable in the hybrid tax equity financings of nationwide portfolios of community solar and commercial and industrial (C&I) solar and storage projects with a large third-party financial institution as the investor, as well as numerous related tax credit transfer transactions
Represented Clearway Energy Group in the approximately $550 million construction financing for the 140 MW solar and 118 MW storage Rosamond South I project in Kern Country, California, provided by a bank consortium consisting of Société Générale, Australia and New Zealand Banking Group Limited, Siemens Financial Services, Commerzbank, CoBank, DNB Bank ASA, and NordLB.
Represented a major financial institution as tax equity investor in its approximately $350 million tax equity commitment in a 485 MW solar project in Virginia, which, at the time of closing, was the largest solar facility east of the Rocky Mountains
Represented Sunrun in over $1 billion in non-recourse financings in one fiscal quarter, including an asset-backed securitization of solar leases and power purchase agreements with an aggregate $977.7 million initial balance, which at closing was both the largest in Sunrun’s history and across the entire residential solar industry
Represented TransAlta Corporation in 10-year transfer agreements with an AA-rated customer for the sale of approximately 80 percent of the expected Production Tax Credits (PTCs) to be generated from the White Rock and the Horizon Hill wind projects in Oklahoma, with an expected annual average EBITDA from the transfers of approximately $43 million.
Represented affiliates of Brookfield Renewable in asset-backed securitizations with respect to portfolios of community solar and C&I solar and storage projects
Represented a major financial institution as tax equity investor in the financing of a 460MW combined solar and battery storage facility in ERCOT, a portion of the output of which is to be sold under a hedge with the balance of the energy and the storage component being utilized on a merchant basis
Represented Cypress Creek in a mezzanine debt facility, a preferred equity issuance, and recapitalization intended to optimize its capital structure as part of its long-term growth strategy
Represented a residential solar developer, as borrower, in a $200 million senior secured credit facility and a $15 million senior secured letter of credit facility
Represented a private equity fund in a $150 million debut joint venture with a solar developer to acquire and develop community solar and other eligible renewable projects
Represented a major financial institution as tax equity investor in the financing of a $269 million investment in respect of a 199.2MW wind generation facility in Iowa and a 78.4MW wind generation facility in New York
Represented tax equity investors and sponsors in the financing of numerous solar and wind projects selling power to Community Choice Aggregators
Represented Morgan Stanley, as lender and agent, in a $263.5 million loan facility for the construction of a 200.5 MW wind farm in Kansas by a subsidiary of Invenergy Wind Global LLC
Represented Terra-Gen in the approximately $250 million construction financing and $170 million tax equity financing for the 193.5MW Voyager Wind II Project in Kern County, California, and the 32.7MW Texas Big Spring Project in Big Spring, Texas
Represented Partners Group in its majority investment in Mexico’s leading gas infrastructure firm, valued at approximately $750 million
Represented a credit card processor in connection with the monetization of receivables
