BenjaminA.
Huffman

PartnerCo-Leader, Energy and Infrastructure Industry Team
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Benjamin Huffman

Overview

Ben Huffman advises on finance and capital recycling transactions in the energy industry—including all aspects of project, portfolio and platform finance—across the United States. He is co-leader of the Energy and Infrastructure industry team.

Ben has worked with renewable energy generation, energy storage, natural gas generation, carbon capture, natural gas midstream and downstream products and services, and offshore wind.

With deep expertise in energy transition projects and tax credit monetization transactions, Ben’s experience spans asset classes and transaction types, including:

  • Development loans
  • Construction debt
  • Mini-perms
  • Private placements
  • Working capital loans
  • Acquisition loans
  • Borrowing base loans
  • Cash equity
  • Tax equity
  • Tax credit transfers

This broad experience in transactions at all levels of the capital stack as well as his in-depth understanding of the development, construction and operation of infrastructure projects, enables Ben to represent a diverse group of entities with varying needs and business strategies.

Synthesizing this knowledge, he helps clients on all sides of transactions—developers, utilities, infrastructure funds, banks and institutional investors—understand their needs and those of their transaction counterparts.

Clients appreciate that Ben’s diverse array of projects and deep base of knowledge enable him to negotiate effectively on their behalf, create and implement solutions that mitigate risks, balance the competing demands of flexibility and certainty, and overcome barriers to closing.

Experience

Project Financing

  • National bank; $250 million term loan for a combined cycle gas plant in Alabama.
  • National bank; $200 million term loan for combined cycle gas plants in Ohio and Indiana.
  • National bank; $100 million tax equity bridge loan and construction loan for a solar generation and battery storage facility in Texas.
  • Domestic battery storage developer; $685 million term-convertible construction debt financings and $288 million tax equity financings for two 4-hour battery storage facilities in Arizona.
  • Domestic wind energy developer; $650 million term-convertible construction debt and tax equity financing for a wind generation facility in Nebraska.
  • Domestic wind energy developer; $96 million term loan refinancing for a wind generation facility in West Virginia.

Tax Equity Investments and Tax Credit Transfers

  • Global developer; $580 million tax credit transfer transaction leveraged to partially support the acquisition financing of AEP’s 1.365GW unregulated renewables portfolio – a first of its kind transaction that received extensive media coverage and was the IJ Investor 2023 North America Renewables Deal of the Year.
  • Global banks; $450 million tax equity investments in public-utility-owned wind farms.
  • National bank; $84 million tax equity investment in a joint wind and solar generation facility in Arizona.
  • National bank; $13 million tax equity investment in multiple solar generation facilities in Massachusetts.
  • Global wind energy developer; $430 million tax equity financing for a wind generation facility in Indiana.
  • Global wind energy developer; $336 million tax equity financing for a wind generation facility in Texas.
  • Global bank; $59 million sale of tax equity interests in a wind generation facility to original developer.
  • Global bank; $137 million sale of tax equity interests in a portfolio of wind generation facilities to a holding company jointly owned by tax equity investor and original developer.

Asset and Cash Flow Lending

  • Domestic wind energy developer; $190 million equipment loan.
  • Vertically integrated oil and gas company; $2.2 billion senior secured revolving credit agreement and $250 million private placement of notes.
  • Development and construction company; Multiple-term loan facilities to finance acquisition of solar energy facility portfolio.
  • Regional bank; $25 million term loan secured by cash flows from coal treatment facilities.
  • Global bank; $100 million tax equity backleverage loan.
  • Global bank; $300 million tax equity backleverage loan.

Purchase/Sale/JVs

  • Global bank; $25 million partial sale of tax equity in a construction-phase solar and wind generation facility.
  • Global wind energy developer; multiple sales of 80% and 90% of cash equity interests in operating wind generation facilities.
  • Global banks and national insurance company; Sale of remainder cash interest in multiple tax equity investments in wind generation facilities
  • Global wind developer; $340 million sale of cash generating interests in a portfolio of wind generating facilities to a holding company jointly owned by developer and investor.
  • Global wind energy developer; $800 million joint venture for a wind generation facility in Texas.
Credentials
Education

J.D., Notre Dame Law School, 2010, summa cum laude

B.A., DePauw University, 2007, cum laude, Phi Beta Kappa, Management Fellow

Admissions

Illinois

Indiana

Honors

Recommended Lawyer - Renewable & Alternative Energy, Legal 500 US, 2020-2022

Thought Leadership
  • "Inflation & Interest Rates: A Macro Look at Financing & LCOE in Today’s Economy," Infocast Solar + Wind Finance and Investment Summit, March 17, 2025
  • Moderator, "Infocast Panel Discussion: M&A Opportunities in a Dynamic Market," Jan 27, 2022
  • Moderator, "OurEnergyPolicy Energy Leaders Webinar Series: Bringing Offshore Wind to Market," July 14, 2021
  • "Federal Preemption of State Labor Laws in the Context of Workers Compensation for Undocumented Workers," 32 Hamline Journal of Public Law & Policy, 83, Fall 2010