Patrick Montgomery
Image of Patrick Montgomery

Patrick Montgomery

Associate

Email

patrick.montgomery@aoshearman.com

Phone

+1 312 598 2007

Offices

Chicago

V-CARD
Patrick represents developers, suppliers, lenders, and investors in bespoke transactions involving both utility-scale project development and project finance.

He has significant experience in negotiation of supply, construction, and operations contracts, and has represented commercial and investment banks in a wide range of loans and investments across the capital stack.

Clients value Patrick’s experience in the energy sector and turn to him for advice on procurement, construction and revenue contracts, regulatory compliance, project management, tax benefit monetization, and all phases of a project’s development and operations.

Experience

Representative matters

Representative experience prior to joining A&O Shearman includes advising:

Project development

  • A project developer in negotiation of owner-furnished turbine supply, EPC, and operations agreements for a USD1+bn natural gas-fired power plant in the Dominican Republic.
  • Goldwind in negotiation of two turbine supply agreements for Canadian projects with separate developers.
  • Gateway Development Corporation in its negotiation and award of the USD1.18bn Manhattan Tunnel Project construction contract.

Project Finance

  • A global financial institution and Nomura Securities, as coordinating lead arrangers for a USD370m financing of three utility-scale US-based solar projects with a total capacity of 400 MWdc .
  • A project sponsor in a USD600m refinancing of an existing term loan for a natural gas-fired plant in California.
  • A global financial institution, ING, and another global financial institution  as coordinating lead arrangers in a USD398m financing of a 250 MW/1,000 MWh BESS project in Arizona.
  • Banco Santander, S.A., New York Branch, in a USD155m financing of a 66 MW solar plus 198 MWh BESS storage project.
  • Coordinating lead arrangers in a USD200m letter of credit facility and USD100m revolving borrowing base mezzanine credit facility to support pre-NTP transmission and renewable energy generation projects.
  • PGIM Private Capital in its provision of USD148m in secured notes to Potentia to support its acquisition of an existing 240 MW wind project in Illinois.
  • An alternative asset management and capital markets company in a USD150m project development and equipment loan credit facility for early-stage development of solar projects across the United States.

Tax Equity

  • A global financial institution in a tax equity investment in two solar + storage projects developed in California, with a total capacity of 463 MW solar / 186 MW storage.
  • A commercial bank in a USD20m portfolio tax equity facility to fund to-be-developed C&I distributed solar project across several states.
  • A global financial institution in a tax equity investment in three utility-scale battery storage projects totaling 327 MW to be co-located with existing gas peaker plants in California.
     
 
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.