Rachel Crouch’s practice focuses on the representation of public and private entities in domestic and international project finance and energy projects.
JD, cum laude, Harvard Law School, 2012
BA, with highest distinction, Phi Beta Kappa, University of Virginia, 2007
- Representing Inter-American Investment Corporation, International Finance Corporation, The Bank of Tokyo Mitsubishi UFJ, Banobras and Bancomext as senior lenders in the US$235 million financing of the 150 MW Solem 1 and 140 MW Solem 2 solar projects, located in Aguascalientes, Mexico, which are the first solar projects under Mexico's long-term clean energy auctions to reach financial closing.
- Representing Inter-American Investment Corporation, Instituto de Credito Oficial and The Bank of Tokyo Mitsubishi UFJ in the project financing of the 92 MW the Conejos Medanos solar project, the 70 MW Guanajuato solar project and the 81 MW Xoxocotla solar project. All three solar projects are located in Mexico and are being developed by X-Elio.
- Represented the sponsor in the approximately US$30 million tax equity financing of a portfolio of commercial and industrial solar projects throughout the United States.
- Represented a tax equity investor in a partnership flip financing of an 80 MW solar project in Utah.
- Represented the sponsor in the tax equity financing of a portfolio of community solar projects in Minnesota.
- Represented the lead arrangers and lenders in connection with the back-leverage financing of the 100 MW Mustang solar project in Kings County, California. The financing consisted of an approximately US$105 million term loan facility and an approximately US$18 million letter of credit facility.
- Represented the lead arrangers and lenders in connection with the financing of the 157.5 MW Roserock solar project in Pecos County, Texas. The financing consisted of a construction period credit agreement providing for a US$63 million construction loan facility, an approximately US$180 million equity bridge loan facility and an approximately US$23 million letter of credit facility, as well as an operating period back-leverage credit facility with a US$63 million term loan facility and an approximately US$32 million letter of credit facility.
- Represented Cheniere Corpus Christi Holdings, a wholly owned subsidiary of Cheniere Energy, Inc., in the US$11.5 billion financing of its LNG project in Corpus Christi, Texas.
- Represented Repsol S.A. in its disposition of Argentine Government bonds received as compensation for the expropriation of shares in YPF S.A. and its remaining equity interest in YPF.
- Represented Alcatel-Lucent S.A. in:
- a series of high-yield notes offerings; and
- a revolving credit facility.
- Represented Minera Antucoya, whose sponsors are Antofagasta plc and Marubeni Corporation, in the US$650 million financing of the Antucoya copper project in Chile.
- Represented LATAM Airlines Group S.A. in connection with a US$1 billion rights offering.
- District of Columbia Bar
- New York State Bar
- "Community Solar and Securities Regulations," Project Finance Newswire, Oct. 18, 2016
Memberships and activities
- The Boston Consulting Group, 2007-2009
As the community or shared solar model becomes more popular, people are asking whether the customer agreements under which customers subscribe to a share of the electricity or buy into a community....
October 18, 2016
Chadbourne & Parke LLP represented the lead arrangers and lenders for the financing of the 157.5 MW Roserock solar project to be located in Pecos County, Texas....
November 30, 2015