Marcela Varela

MARCELA VARELA focuses her practice on project finance, project and portfolio M&A, tax equity investments and transfer, joint ventures, and other related transactions in the renewable energy market. Marcela has a broad range of experience representing investors, sponsors, lenders, and other key participants in connection with financing and equity arrangements at all stages of a project's life-cycle, including investments in solar, wind, battery and storage, and other alternative energy projects.

Marcela is committed to pro bono work, including immigration, guardianship, and nonprofit regulation matters.

Marcela graduated from The University of Texas School of Law. During law school, she served as editor-in-chief for the Texas Hispanic Journal of Law and Policy.

Prior to attending law school, Marcela graduated, magna cum laude, with two B.A. degrees from Texas Christian University.

Marcela is a fluent Spanish speaker.

Tax Equity Investments

• RBC Community Investments in the ITC tax equity financing of the 185MW/565Mwh Kapolei Energy Storage project developed by Plus Power.
• RBC Community Investments in the ITC tax equity financing of the 80MW Sagebrush A standalone energy storage project developed by Terra-Gen.
• RBC Community Investments in the ITC tax equity financing of the 100MW Blake solar project and 160MW Elizabeth solar project developed by Opdenergy.
• RBC Community Investments in syndicating ITC transfer sales with Terra-Gen and Invenergy
• Several tax equity investors and syndicators in structuring and development of ITC and PTC syndication and financing structures.

Project Development and Finance

• DE Shaw Renewable Investments in the acquisition, development, tax equity and project financing of the Highlands solar project.
• Fifth Third Bank in a debt facility for solar assets being developed by Amp Solar.

Mergers and Acquisitions

• Ørsted in its divestment of a 50% equity stake in three U.S. onshore projects to Energy Capital Partners for US$572 million.
• A consortium, headed by APG Asset Management N.V. (APG), on behalf of the largest Dutch pension fund, ABP, and Australian Retirement Trust (ART), in the acquisition of Riverstone Holdings’ equity stake in Pattern Energy Group LP.
• Calibrant Energy (a Macquarie Asset Management portfolio company) in its acquisition of a carveout of Enel X North America’s distributed energy storage business, with more than 700 MWh of distributed projects in late-stage development.