Overview
John Eliason has built a distinguished career and longstanding relationships by providing tax, legal and business advice to financial institutions, private equity funds, developers, owners and equipment manufacturers in the real estate, energy and infrastructure sectors. Currently, he serves as co-chair of Foley’s Energy Industry Team.
John focuses his practice primarily in the renewable energy space, concentrating on wind, solar, biomass and other emerging technologies that rely on federal and state tax incentives, like the Federal production tax credit (PTC), energy investment tax credit (ITC) and accelerated depreciation (MACRS and “bonus”). He is versed in unlocking the value of those tax benefits for transaction participants using partnership flips, public/private partnerships, sale-leasebacks, prepaid PPAs and other structuring options. John regularly advises non-U.S. based pension and private equity funds investing in energy and infrastructure assets. He also represents clients in front of the Department of Treasury and the Internal Revenue Service.
Prior to practicing law, John founded an information management company based in Austin, Texas. He is also a veteran of the Texas Army National Guard.
Representative Experience
- Represented leading financial institution in tax equity investment in a 210 MW, $465 million wind farm in Illinois, structured as a “partnership flip”
- Represented wind developer in tax equity and debt financing of 400 MW portfolio of four wind repowering projects, structured as a “partnership flip”
- Represented wind developer in tax equity and debt financing of 100 MW wind farm in Maine, structured as a “partnership flip”
- Represented global financial institution in a $290 million tax equity acquisition of a 127.8 MW wind farm in California, structured as a “prepay PPA”
- Represented leading wind developer in $90 million tax equity financing of 35 MW wind farm in Maine, structured as a sale-leaseback
- Represented solar developer in tax equity financing of portfolio of utility scale solar projects in Massachusetts – the first solar transaction for developer – structured as a “partnership flip”
- Represented solar developer in first transaction of tax equity and debt financing for portfolio of solar projects in North Carolina, including state tax, structured as a “lease pass-through”
- Represented developer in tax equity and debt financings of 70 MW biomass plant in Southeastern US, structured as a “partnership flip”
- Represented leading financial institution in tax equity investment in 90 MW wind farm in New York, structured as a “partnership flip”
- Represented leading financial institution in $60 million tax equity investment in two utility scale solar facilities in California, structured as a “partnership flip”
- Represented major North Carolina developer in federal tax equity, state tax equity, and debt financing of six utility scale solar facilities aggregating approximately 35 MW, structured as a “lease pass-through”
- Represented leading financial institution in $60 million tax equity financing of solar DG portfolio in Northeastern US, structured as a “partnership flip”
- Represented major financial institution in structuring and closing syndication of residential solar portfolio – the first renewable energy syndication by institution
- Represented leading sponsor in tax equity financing of 100 MW solar plus storage project in California, structured as a time-based “partnership flip”
Recognition
John is both nationally and globally ranked by Chambers in the area of renewables & alternative energy (2018 - 2020). John also has been recognized by The Legal 500 for his work in project finance and energy: renewable/alternative. He is a recipient of Foley’s Carl Hitchner "Mentor of the Year Award," presented annually to recognize outstanding mentoring to our young attorneys.
Education
John earned an LL.M. in taxation from New York University School of Law and graduated with a J.D. from Washington and Lee University School of Law. He completed his B.A. in economics at The University of Texas at Austin.
Admissions
John is admitted to practice in the District of Columbia, New York and Texas.