Eli M. Katz

  • Partner
  • Eeli.katz@lw.com
  • 885 Third Avenue
  • New York, NY 10022-4834
  • USA
  • T +1.212.906.1620
  •  
 

Profile

Eli Katz is a partner in the New York office of Latham & Watkins and a member of the firm’s Tax Department and Project Development & Finance Practice. Over the past two decades, Mr. Katz has advised clients on some of the most notable transactions closed in the power and renewable energy sector. His clients include leading independent power producers, large financial institutions, and private equity, infrastructure, pension, and sovereign wealth funds.

His practice is focused on energy tax incentives, project development and financing, joint venture arrangements, capital raising and deployment structures, mergers and acquisitions, and leasing transactions both internationally and in the United States.

Mr. Katz is ranked by Chambers Global for Projects in Renewables & Alternative Energy – USA and Chambers USA for Nationwide Projects in Renewables & Alternative Energy. He has also repeatedly been recognized by The Legal 500 US for his work in Project Finance and Tax.

Prior to joining Latham, Mr. Katz was vice president and tax counsel at GE Energy Financial Services.

Speaking Engagements

  • Credit Agricole Winter Energy Conference – Financing Trends for Renewable Energy, Beaver Creek, 2019
  • Credit Agricole Winter Energy Conference – Financing Trends for Renewable Energy, Beaver Creek, 2018
  • Investing in US Renewables, Toronto, 2013
  • Wall Street Green Summit XII, New York, 2013
  • The Return of Tax Equity – Crucial Financing Piece, New York, 2013

Experience

Mr. Katz’s representative experience includes advising:

  • A group of bank and institutional lenders in connection with KKR’s US$900 million convertible equity investment in a portfolio of wind and solar projects
  • A consortium of financing parties in connection with the purchase by a leading infrastructure fund of an approximately 1,388-MW portfolio of wind and solar projects
  • Sempra Energy in its sale of Sempra Solar Holdings, its portfolio of US wind and solar assets, consisting of 981-MW of operating renewable electric production projects, including its share of 379-MW of jointly owned projects, to Consolidated Edison
  • Vivint in connection with various transactions, including:
    • Long term fixed-rate note and levered tax equity financing in connection with a portfolio of 31,169 residential rooftop solar systems with a total generating capacity of approximately 223-MW across 12 states
    • Project financing in connection with Solar Asset Backed Notes for residential photovoltaic solar panels located in the United States
    • Securitization of a portfolio of over 37,000 solar power purchase agreements with a total aggregated discounted value in excess of US$500 million
  • Ares EIF in connection with the project development, refinancing and tax equity financing of three repowered wind projects located in Texas
  • ArcLight Capital Partners in its sale of Leeward Renewable Energy, an independent wind power platform, to OMERS Infrastructure Management
  • Siemens Financial Services in connection with the tax equity financing of Canadian Breaks Wind, a 200-MW wind project being developed in Oldham and Deaf Smith Counties, Texas
  • A leading Canadian independent power producer in connection with various transactions, including:
    • Project and tax equity financing of a 250-MW photovoltaic solar plant located in Winkler County, Texas
    • Tax equity investment and joint venture of the Flat Top Wind Project, a 200-MW nameplate capacity wind generation project located in Central Texas
  • Avangrid and Pattern Energy in connection with its joint venture and tax equity financing of the 298-MW El Cabo wind project located in New Mexico
  • A leading oil and gas company in connection with the deployment and tax equity financing of a carbon capture facility designed to qualify for carbon sequestration tax credits
  • A syndicate of lenders on a US$250 million back-leverage facility to support the continued expansion of one of the largest residential solar developers in the market*
  • 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 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. Mr. Katz's representation of NRG Energy was honored in the Financial Times Most Innovative Law Firms 2015 Report*
  • Macquarie Bank on the purchase of the cash flows from a portfolio of 11 wind farms that were subject to tax equity financings. This was the largest transaction of its type ever closed*
  • The developer and lessee in the US$1.6 billion financing for Alta Phases II-V (which included a Rule 144A bond offering, a bank cash grant bridge facility, and a forward commitment for a sale-leaseback), making this the first large portfolio of wind projects utilizing a leveraged lease structure in the United States*
  • The developer group in the approximately US$2 billion financing for the world's largest wind farm totaling 845 MW of capacity at the Caithness Shepherds Flat project in eastern Oregon*

*Matter handled prior to joining Latham

Thought Leadership

  • Carbon Capture Industry Poised for Growth Following Anticipated 45Q Guidance -  June 10, 2019
  • Unclear Which Way Wind Blows After Reversal of Alta Wind -  August 14, 2018
  • US Tax Reform: Key Business Impacts, Illustrated With Charts and Transactional Diagrams -  January 10, 2018
  • Tax Reform Update — Impact on Renewable and Energy Projects -  December 20, 2017
  • Impact of the House Tax Reform Bill on the Renewable Energy Sector -  November 07, 2017
  • IRS Issues Welcome Guidance on “Continuity Safe Harbor” for Wind Energy Projects  -  December 19, 2016
  • Alta Wind Wins Cash Grant Dispute in Court of Federal Claims – Awarded US$206 Million -  November 03, 2016
“He is a strong tax lawyer - one of the best,” and “very comprehensive in his approach to analyzing complex problems on the tax equity side.”
Chambers USA 2019
Bar Qualification
  • New York
Education
  • LL.M. in Taxation, New York University School of Law, 2004
  • JD, Fordham University School of Law, 1999
  • BS, Touro College, 1996
Industries
  • Power
  • Financial Institutions
Practices
  • Transactional Tax
  • Project Development & Finance
  • Tax