Paul J. Astolfi

Projects & Infrastructure, Financial Services M&A, Banking & Finance

"Paul is a problem solver who works through complex issues efficiently."

"Paul has a high level of commitment to client service, coupled with great responsiveness and business acumen."

Chambers USA

Overview

Paul Astolfi is co-leader of Mayer Brown’s Projects & Infrastructure group and has spent the better part of the last 20 years working on greenfield and brownfield power, energy and infrastructure finance and M&A transactions and reorganizations. His experience includes billions of dollars of investment in renewable energy companies and projects, gas-fired peakers in PJM, QFs in MISO, hedged merchant wind and solar facilities in ERCOT (and elsewhere), contracted solar facilities in CAISO, various energy projects in Mexico, and several project bond financings (144A and private placements). Paul has a particularly strong expertise in multi-tiered financing structures and cross-border transactions, including intercreditor arrangements and workouts. Paul speaks French competently and can read and understand Spanish. He is a member of the New York Bar, among others.

Experience

Represented a private equity firm as purchaser in an approximately $112 million investment tax credit transfer transaction for two utility-scale solar and storage projects in Kern and Los Angeles Counties, California.
Represented CDPQ on its USD 1.5 billion multifaceted transaction in which an investment vehicle composed of CDPQ, Invenergy, and funds managed by private equity firm Blackstone Infrastructure Partners acquired, from American Electric Power, a 1,365-megawatt renewables portfolio comprised of 14 projects representing 1,200 MW of wind and 165 MW of solar in 11 states.
Represented CDPQ on USD 3 billion equity investment in Invenergy Renewables Holdings LLC.
Represented CDPQ with respect to its investment in the Invenergy-sponsored New York Bight offshore wind project.
Represented Banco Santander, S.A., Société Générale and CaixaBank in a roughly USD 355 million construction loan, bridge loan and letter of credit facility to finance the construction of Samson I, an approximately 250 MW (AC) solar generation facility in Lamar County, Texas being developed by Invenergy Renewables Global LLC.
Represented Banco Santander, S.A., Société Générale and CaixaBank in a roughly USD 330 million construction loan, bridge loan and letter of credit facility to finance the construction of Samson III, an approximately 250 MW (AC) solar generation facility in Lamar County, Texas being developed by Invenergy Renewables Global LLC.

Represented the Nomura Securities International Inc in connection with approximately $500 million of construction, bridge, and term loan facilities for a 300 MW (AC) Solar Generation Facility in Lamar, Franklin, Hopkins and Red River Counties, Texas.
Represented Bank of America and The Bank of Nova Scotia in the provision of a $75 million term loan facility and $37 million LC facility for ArcLight Capital in its acquisition of Duke Energy's distributed generation solar portfolio.
Represented a leading private equity firm as purchaser in an investment tax credit transfer transaction for two utility-scale solar and storage projects in California (Kern and Los Angeles Counties) owned by subsidiaries of The AES Corporation.
Represented MUFG, as lead arranger, in the construction loan for Kings Point Wind Farm (150 MW) and North Fork Wind Farm (150 MW), sponsored by Algonquin being developed in Missouri. The Kings Point and North Fork wind farms will generate a total of about 300 MW.
Represented MUFG and Santander in the construction loan for Neosho Wind Farm (301 MW) sponsored by Algonquin being developed in Kansas.
Represented Global Atlantic Financial Group providing term debt for five utility-scale solar projects in Culberson County, Texas and Riverside County, California with an approximately 1.7 gigawatts (GWp) being developed by SoftBank Energy Corp.
- Athos I – 250 MW
- Athos II – 200 MW
- Juno – 300 MW
- Titan – 270 MW
- Aragorn – 260 MW
Represented Norddeutsche Landesbank Girozentrale, New York Branch and Cooperatieve Rabobank U.A., New York Branch in the construction, tax equity bridge, and back-leverage financing of Concho Valley Solar, an approximately 160 MWac solar photovoltaic generation facility located in Tom Green County, Texas.
Represented Norddeutsche Landesbank Girozentrale, New York Branch as sole Lead Arranger for a USD 189 million senior secured loan facility and a USD 53.8 million letter of credit facility related to the construction of an approximately 336 MW wind project in Texas.
Represented Santander Bank, S.A., Bank of America, National Association and Sumitomo Mitsui Banking Corporation in an approximately USD 348 million construction, tax equity bridge, and back leverage financing of Great Pathfinder Wind in Iowa, a 225 MW wind project sponsored by Apex Clean Energy Holdings.

Paul J. Astolfi

Overview

Experience

Related Services & Industries

Services

Industries

Publications & Presentations

Publications

CPUC Authorizes Procurement of 10.6 GW of Clean Energy Resources Under AB 1373

Offshore Wind: New California Law Aims to Simplify and Expedite Offshore Wind Energy Development

News

Project Finance Group Of The Year: Mayer Brown

Two Mayer Brown partners ranked in A Word About Wind's Legal Power List 2022

Events

Proximo US Power, Renewables & Energy Transition Finance 2024 Conference

ABS East 2024

Recognition

Education

Admissions

Languages