David Penna, former Global Co-Chair of the firm’s Project Development & Finance Practice, advises clients on complex project development, financing, and M&A transactions, with a focus on the energy, power, and infrastructure sectors.

Mr. Penna represents sponsors, lenders, developers, multinational corporations, and governmental entities in all phases of the development and financing of US and international projects. He also regularly handles mergers and acquisitions, with an emphasis on deals involving power generation assets.

Mr. Penna rejoined the firm in 2020 after serving as Senior Vice President in the Office of Strategic Initiatives at the US International Development Finance Corporation (DFC). In this role, he provided strategic policy advice related to US national security and international development matters. He also led the development and implementation of new policies and initiatives for the organization.

Mr. Penna has been recognized by The Legal 500 US as a top lawyer in the areas of project finance and renewable/alternative energy.

Mr. Penna previously served as Local Chair of the Washington, D.C. Finance Department.

 

Mr. Penna’s experience includes advising:

Renewable Energy

  • The sponsor in the bank and bond financing of a 300 MW solar power project in Oklahoma
  • The sponsor in the development and financing of a 30 MW offshore wind power project in Rhode Island (named 2015 North American Wind Deal of the Year by Infrastructure Journal)
  • The sponsor in the financing of a portfolio of hydroelectric stations and associated dams and reservoirs in Connecticut, New Hampshire, and Vermont 
  • The lender and note purchasers in the bank and bond financing of a portfolio of photovoltaic solar power projects in Ontario, Canada 
  • The lender and note purchasers in the bank and bond financing of a solar power project in Modesto, California 
  • The lenders in the project financing, and the lenders and note purchasers in the subsequent bank and bond refinancing, of a portfolio of six wind power projects totaling 138 MW in Idaho
  • The lenders in the back-levered financing of a sale/leaseback transaction in respect of a 102.5 MW wind power project in California 
  • The sponsor in the project financing of a combined 55 MW solar and 30 MW wind project in Arizona  
  • The sponsor in the development of a portfolio of biomass power projects in North Carolina and Oregon
  • The lenders in the project financing of a 166 MW wind power project in Kansas 
  • The sponsor in the development of a portfolio of geothermal power project in Chile
  • The lenders in the project financing of a 150 MW wind power project in California 
  • The acquirer in the acquisition of a 69 MW wind power project in Hawaii
  • The seller in the sale of a development stage wind power project in Michigan 
  • The sponsor in the development and financing of multiple wind power projects in New York and Texas 
  • The sponsors in the structuring and initial development planning of an offshore backbone transmission line to transport power generated by prospective offshore wind power projects in the Atlantic Ocean to terrestrial markets on the Eastern seaboard, from Virginia to New Jersey

Oil, Gas, LNG, and Petrochemicals

  • The sponsor in the project financing of a marine storage terminal in Louisiana 
  • The sponsor in the project financing of an approximately 600 kilometer natural gas pipeline and associated compression facilities in the states of Durango, Zacatecas and Aguascalientes, Mexico (named 2016 Americas Oil and Gas Deal of the Year by Project Finance International)
  • The sponsor in the project financing of an approximately 350 kilometer natural gas pipeline and associated compression facilities in the states of Aguascalientes and Jalisco, Mexico 
  • The sponsor in the project financing of an approximately 414 kilometer natural gas pipeline and associated compression facilities in the states of Chihuahua and Durango, Mexico (named 2015 Latin American Midstream Deal of the Year by Infrastructure Journal)
  • The sponsors in the project financing of an approximately 180 mile natural gas pipeline and associated compression facilities in Texas, terminating at the US/Mexican border
  • The lender group in the project financing and subsequent refinancing of a natural gas pipeline and associated compression facilities (and relocation of existing compression facilities) in Queretaro, Mexico 
  • The sponsor in the financing of a senior secured revolving credit facility in respect of natural gas gathering pipeline systems and associated storage assets in Texas and Colorado 
  • A foreign sovereign in connection with the development of a liquefied natural gas import facility and related infrastructure

Traditional Power

  • The sponsor in the bank and bond financing of an approximately 1050 MW natural and ethane electric generating facility in Cambria County, Pennsylvania
  • The sponsor in the project financing of an approximately 720 MW natural gas-fired combined-cycle power generation facility in Wawayanda, New York (named 2016 North American Power Deal of the Year by Project Finance International
  • The sponsor in the project financing of a 725 MW natural gas-fired combined-cycle power generation facility in Charles County, Maryland (named 2015 North American Power Deal of the Year” by Project Finance International
  • The sponsor in the project financing, and subsequent amendment and restatement of the project financing, of an approximately 725 MW natural gas-fired combined-cycle power generation facility in Woodbridge, New Jersey 
  • The sponsor in the development of a 2x300 MW coal-fired power facility in the Philippines 
  • The lenders in connection with the construction and term financing of a brownfield natural gas peaking power facility in Connecticut 
  • The purchaser in the purchase of a portfolio of power assets from Dominion with a combined rating of approximately 1600 MW

Bar Qualification

  • District of Columbia
  • New York

Education

  • JD, Yale Law School, 2001
  • BA, Indiana University, 1997