For those who have not been following the development of entity structures used to access capital markets for the renewable-energy industry, you might have missed the latest model to turn heads. But the Sol-Wind story is worth noting: It reminds us that capital markets are the true determinant of a structure’s success — no matter how creative the structure dreamt up by securities lawyers and tax planners.
In December 2014, Sol-Wind Renewable Power L.P. filed a Form S-1 for its initial public offering to issue $410 million (at the high end) in units. The capital was to be used to acquire interests in a 185-megawatt portfolio of solar- and wind-power assets from its general partner. The issuing entity is a limited partnership that holds the stock of a corporation that would in turn invest in tax-equity partnerships owning project limited liability companies. The Sol-Wind structure, simply put, is that of a master limited partnership (MLP) on top of a “yieldco.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
