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Mayer Brown

1999 K STREET, NW, WASHINGTON, DC 20006-1101, USA
Tel:
Work +1 202 263 3000
Fax:
Fax +1 202 263 3300
Email:
Web:
www.mayerbrown.com

Jeffrey Davis

Tel:
Work +1 202 263 3390
Email:
Mayer Brown

Work Department

Tax Transactions & Consulting

Position

Jeffrey G. Davis is a partner in the Tax Transactions & Consulting group in Mayer Brown’s Washington DC office and is a co-head of the firm’s Renewable Energy group. Jeff represents major corporations, financial institutions and private equity funds on a wide range of US federal income tax matters. His practice focuses on partnership tax, tax credits and other incentives, and project finance and development. In particular, Jeff advises equity investors, lenders, developers, equipment suppliers and utilities in electric energy projects involving all major renewable resources, including wind, solar, geothermal, hydroelectric, biomass and refined coal. He regularly advises clients on a variety of tax-related issues regarding the development, structuring, financing, and acquisition and/or disposition of renewable energy projects. He has significant experience with the qualification for and monetization of tax credits (including those provided under IRC sections 45 and 48) and other tax benefits associated with renewable energy projects, as well as section 1603 Treasury grants in lieu of tax credits. Jeff has represented investors and sponsors in dozens of “tax equity” financings using the “partnership flip” structure (also known as PAPS), including levered and unlevered transactions, as well as those involving pay-as-you-go (PAYGO) payments and Industrial Revenue Bonds. Jeff also has significant experience with the new markets tax credit (NMTC) under IRC section 45D, the nonconventional source fuel credit under IRC section 45K, the energy efficient appliance credit under IRC section 45M, and the energy efficient commercial building deduction under IRC section 179D.

Education

Georgetown University Law Center, 1999; LLM in Taxation, with distinction Pepperdine University School of Law, JD, summa cum laude, 1994; Articles Editor, Pepperdine Law Review, 1992-1994 Lipscomb University, BA, summa cum laude, 1991


United States: Finance

Project finance

Within: Project finance

Mayer Brown’s ‘excellent, client-oriented’ and ‘proactive’ department is headed by ‘responsive, skilful negotiatorBarry Machlin in Chicago, who is praised by clients for his ‘breadth of experience, ability to manage large client groups, and expertise in project finance’. The team handles a wide variety of projects, including conventional power, oil and gas, renewable, nuclear and infrastructure projects; although lender-side work is its chief strength, its work for sponsors is also highly rated. Machlin advised the Panama Canal Authority on the $5.25bn financial restructuring of the Panama Canal locks expansion project. George Baptista, who is based in New York, advised Grupo Odinsa as sponsor on a $54m financing from Deutsche Bank to fund the DCMO aspects of the $140m Aruba Green Corridor project. On the lender side, Christopher Erckert acted for Corporación Andina de Fomento on its $254m part-financing of Peru’s largest wind project – the Marcona and Tres Hermanas twin wind farms. The practice is also active in tax equity investments: Jeffrey Davis, Robert Goldberg, Nadav Klugman and Andrew Young advised GE Energy Financial Services on $254m-worth of investments in two California solar projects. ‘Outstanding’ senior associate Juan Pablo Moreno has ‘great project finance knowledge, international experience and lots of patience’.

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United States: Industry focus

Energy: renewable/alternative

Within: Energy: renewable/alternative

Mayer Brown’s practice is led by Robert Goldberg in Houston and Jeffrey Davis in Washington DC. It chiefly handles project finance and renewable asset M&A, and is notably strong on the tax side, but it also litigates for clients such as Acciona. Houston-based tax expert David Burton joined in May 2016 from Akin Gump Strauss Hauer & Feld LLP; ‘attentive draftsman and negotiator’ Nadav Klugman made partner in Chicago in January 2017.

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