John Papaspanos

Prior to joining Kirkland, John was involved in the following matters:

Select Transactions Representing Solar Developers & Investors

• Represented a leading investor in the solar space in connection with a joint venture transaction and an approximately $110.5 million mezzanine and bridge loan secured by equity interests in 12 residential solar funds, each with existing tax equity and back-leverage debt, and an approximately $80.3 million mezzanine and bridge loan secured by equity interests in a separate group of residential solar funds, each with existing tax equity and back-leverage debt.
• Represented an affiliate of The AES Corporation as borrower in connection with (i) a back-leverage, secured term loan facility and letter of credit facility with a commitment of approximately $300 million for a portfolio of commercial and industrial scale solar projects and associated tax equity transactions and (ii) the amendment and restatement of such credit facilities.
• Represented an affiliate of Sunnova Energy International Inc. as borrower in a secured revolving credit facility for an aggregate commitment amount of $65 million for the purchase of home improvement loans.
• Represented an affiliate of Sunnova Energy International Inc. as borrower in an upsizing of a back-leverage warehouse facility to finance portfolios of residential solar assets that are held in tax equity funds.
• Represented an affiliate of Sunnova Energy International Inc. as borrower in various upsizing transactions for a back-leverage warehouse facility to finance portfolios of residential solar loan agreements and residential solar assets that are held in tax equity funds.
• Represented an affiliate of Sunnova Energy International Inc. as borrower in an upsizing of a revolving warehouse credit facility for residential solar loan agreements for an aggregate commitment with an aggregate commitment amount of $875 million and an uncommitted maximum facility amount of $1 billion.
• Represented an affiliate of Sunnova Energy International Inc. as borrower in an upsizing of a revolving credit facility to increase the aggregate commitment amount to $215 million.
• Represented a solar developer in connection with the negotiation and structuring of a joint venture for the development of a utility-scale solar project.
• Represented a sponsor in connection with a tax equity financing transaction involving five ground-mount utility-scale solar projects in New York state.
• Represented a finance company in connection $150 million term loan secured by equity interests in numerous renewable energy investments.
• Represented an affiliate of The AES Corporation in connection with a tax equity financing transaction involving a portfolio of photovoltaic solar energy generating systems.
• Represented a solar developer in connection with various joint venture and M&A transactions in connection with the development of utility-scale solar projects. 

Refinery Intermediation Transactions

• Represented Par Pacific Holdings, Inc. (NYSE: PARR) (Par Pacific) in connection with a new, crude-only intermediation financing agreement between its subsidiary Par Hawaii Refining, LLC (Par Hawaii) and Citigroup Energy Inc. (Citi), pursuant to which Citi will purchase and deliver crude oil to Par Hawaii for use at its refinery located in Kapolei, Hawaii.
• Represented a leading financial institution in connection with non-recourse supply and offtake arrangements and financing transactions in respect of crude oil, conventional refined products, renewable feedstocks and products and other asset-based financing transactions, supporting various refineries located in North America.
• Represented a leading financial institution in connection with non-recourse supply and offtake arrangements and financing transactions in respect of crude oil, conventional refined products and other asset-based financing transactions, supporting various refineries located in North America.
• Represented a leading financial institution in connection with the amendment and restatement of various supply and offtake agreements and financing documents in respect of oil, conventional refined products and other asset-based financing transactions, supporting various refineries located in North America.
• Represented a leading financial institution in connection with non-recourse supply and offtake arrangements and financing transactions in respect of crude oil, refined products and accounts receivable, supporting the Limetree Bay Refinery on Saint Croix, U.S. Virgin Islands, including advice in the exercise of remedies and collaborated with bankruptcy colleagues during the entirety of the bankruptcy proceeding to review and revise court filings, to provide support in formulating arguments for the court and interpreting contractual provisions.

Select Acquisition Financings with Project Finance Structure

• Represented BKV-BPP Power LLC, which is a joint venture between BKV Corporation and an affiliate of Banpu Power Public Company Limited, a public company listed on the Stock Exchange of Thailand, in connection with the acquisition financing of the Temple II generating facility, which is a utility scale natural gas power plant in Texas.
• Represented CIM Group, a major private equity infrastructure fund manager, in its financing for the acquisition of the Renewable Natural Gas (RNG) development platform of MAS CanAm, LLC, an affiliate of MAS Energy, LLC, a leading developer, owner and operator of landfill gas-based RNG in the U.S. and Canada, including a portfolio of seven projects currently under construction or in development. Such platform has been renamed “Terreva Renewables.”

Select Transactions Representing the DOE LPO

• Represented the U.S. Department of Energy (Loan Programs Office) (LPO) in connection with a project financing of a commercial-scale waste-to-ammonia production facility using carbon capture and sequestration technology in West Terre Haute, Indiana consisting of a loan guarantee of up to $1.559 billion. This facility would be the first project in the U.S. to use petcoke to produce ammonia and store the associated carbon dioxide emissions via permanent geological sequestration and would play a critical role in securing a domestic fertilizer supply for the Corn Belt. As of March 2025, the DOE’s LPO issued a conditional commitment to the borrower, Wabash Valley Resources, LLC.

Other Select Transactions

• Represented General Atlantic Credit’s Atlantic Park Fund, as lender, in connection with a credit agreement with a subsidiary of NextDecade Corporation (NASDAQ:  NEXT) that provides for a $175 million senior secured loan facility to finance, among other things, the development costs for expansion trains 4 and 5 at the Rio Grande LNG Facility.
• Represented a major European energy company in connection with a financing for the development in the U.S. of a hydrogen production facility of at least 500 MW and an ammonia production facility.
• Represented a private equity-backed infrastructure investor in connection with acquisition and financing transactions related to water and other water-related infrastructure assets.