- J.D., Stanford Law School
- Master of Pacific International Affairs, University of California, San Diego
- B.A., University of California, San Diego
Jeff Rector is a partner in the Real Estate, Land Use and Environmental Practice Group and a member of the Energy industry team. He is based in the firm’s Del Mar office.
Areas of Practice
Jeff is a sustainability-focused project finance lawyer who enables SheppardMullin clients to develop, invest, or lend to socially beneficial projects and earn good financial returns. He represents project developers, investors and lenders on domestic and international transactions involving new investments and financings of clean energy, water, and other infrastructure projects. Areas of special focus include EPC agreements, project offtake agreements, limited recourse secured credit agreements, and export credit agency financings.
- Jeff was recognized as a notable Projects and Energy Expert (Japan Experts Based Abroad) in the 2015, 2014 and 2013 editions of Chambers Global, ranked in the 2015 edition of Legal 500, and an "Up and Coming" attorney in the 2012 edition of Chambers Asia Pacific.
Credit agreement negotiation and documentation on major project financings:
- The Export Credit Agency lenders to a proposed US$5 billion expansion project financing of a petrochemical complex located in Saudi Arabia.
- JBIC, Nippon Export and Investment Insurance, and a consortium of commercial banks in the US$1.1 billion project finance loan for the development of the Caserones copper mine in Chile. (Project Finance International Americas Mining Deal of the Year)
- Hongsa Power Company Limited in connection with the US$2.7 billion project financing for a 1,878-MW Power Plant Project in the Lao People’s Democratic Republic that exports a majority of its power to Thailand under a power purchase agreement with Electricity Generating Authority of Thailand. (Project Finance Magazine Asia-Pacific Power Deal of the Year)
- JBIC and a consortium of commercial banks as lenders to the project company in Central Java Power, a 2,000 MW power plant project under development in Indonesia.
- A consortium of Japanese investors in their negotiations for the investment in a nuclear power project under development in the United States.
- The project owner and developer of a wind project in Hawaii in connection with its refinancing of the project company’s long term debt.
- JBIC (and co-financing banks) for the US$2.3 billion project financing of Tanjung Jati B the 2 x 660 MW unit power project expansion located in Indonesia. (IFLR Asia Project Finance Deal of the Year)
- The Export-Import Bank of Korea, JBIC and commercial banks on the financing of the US$850 million Cirebon Power Project, a 660 MW power plant located in Indonesia.
- The export credit agency lender group in connection with the financing of the US$4.7 billion liquid natural gas facility in Yemen (Yemen LNG) and related facilities. (Infrastructure Journal Global Deal of the Year; Project Finance Middle East Oil & Gas Deal of the Year)
Credit agreement negotiation and documentation on distributed generation project financings:
- A leading financier of distributed generation renewable energy projects for the debt and tax equity financing of a portfolio of solar power projects in California, including negotiation of tax equity financing agreements and review of PPA and EPC Agreements.
- The lender to a portfolio of projects in California utilizing incentives available under the California Multifamily Affordable Solar Housing (MASH) Program.
- The provider of construction and long-term financing in connection with the development and financing of three 5 MW solar electric projects located in North Carolina.
- The lender who provided acquisition financing for a portfolio of solar electric projects in Tennessee.
- The project sponsors in connection with the sale-leaseback financing of a portfolio of distributed generation solar facilities located in Hawaii.
- The lender to a portfolio of commercial distributed generation projects based in California.
- The lender under a master credit facility for the financing of solar hot water heating systems and solar electric systems in connection with Louisiana state solar tax credits.
- The lender to a portfolio of solar electricity projects located on public schools on the Islands of Oahu and Kauai.
Project agreement and deal structuring work on transactions that utilized or planned nonrecourse project finance:
- The EPC contractor and battery systems supplier for one of the nation’s largest utility scale energy storage projects.
- The project developer of a 30 MW solar farm in North Carolina in connection with the negotiation and documentation of the EPC contract and the project purchase and sale agreement.
- Google Inc. in its acquisition of and tax equity investment in a 69 MW portfolio of solar power projects in California.
- Japan Bank for International Cooperation (JBIC) in a multi-year representation in connection with the proposed three billion dollar financing of housing, to be structured in accordance with the Military Housing Privatization Initiative, and related water (potable and waste) and power infrastructure in support of the relocation of U.S. Marines from Okinawa to the Territory of Guam, U.S.A.
- The Bank of Tokyo Mitsubishi, UFJ and other commercial bank lenders in the refinancing of the borrowing-base working capital facility for PT Smelting, a copper smelting and refinery based in Indonesia.
- A leading solar power project developer in their long-term strategic supply agreement with a Chinese supplier.
- A state-owned utility in its negotiation of a CDM Emissions Reduction Purchase Agreement (ERPA) with a developer and broker of tradable carbon credits.
- Calpine Corporation in their negotiations with a leading EPC contractor for the EPC Agreement for the turn-key construction of a 600 MW gas fired power plant in California.
- The developer of a 1200 MW power project in northern Vietnam in its negotiation of a BOT Agreement, PPA, EPC Agreement and Fuel Supply Agreement.
- The developer of distributed photovoltaic solar projects in its negotiations of PPAs with various commercial and government purchasers located in California and other western states.
- The developer of a 1200 MW power project in southern Vietnam in its negotiation of a Government Guarantee and Undertakings Agreement, PPA, and EPC Agreement.
- BNP Paribas in the political risk guarantee-backed financing of the construction, operation and maintenance of a portion of the Interoceanica Sur toll road project in Peru. (Latin Lawyer Magazine Deal of the Year 2007)
- The developer of a 50 MW wind farm in Mongolia in its PPA negotiations and government guaranty negotiations.
- "Insolvency-Related Implications for the Oil & Gas Industry in the U.S.," The Metropolitan Corporate Counsel, March 2015
- Perspectives from Northeast Asia, Project Finance International (PFI Yearbook 2013), January 2013
- Caserones – Copper Co-Operation, Project Finance International, January 2012
- FIT for Purpose (Japan’s Feed in Tariff), Project Finance, October 2011
- Bilateral Emission Offset Mechanisms Might Eclipse CDM, Electric Light & Power, April 2011
- A Review of the Economic Substance Doctrine, Stanford Journal of Law, Business and Finance, Autumn 2004
- The IPP Investment Experience in Malaysia, Stanford University Program on Energy and Sustainable Development Working Paper #46, 2005
Real Estate, Land Use & Environmental Law Blog Posts
- Presenter, "Termination for Convenience and Project Financing," 5th Defense Renewable Energy Summit, April 8, 2015
- Moderator, "Perspectives on Monetizing the Value of Energy Resiliency and Security," 5th Defense Renewable Energy Summit, April 8, 2015
- Moderator, "Financiers’ Perspectives on Improving the Financeability of DoD Renewable Energy Projects," 5th Defense Renewable Energy Summit, April 8, 2015
- Moderator, "The ITC Step Down—what will be the impact on business development opportunities?" Solar Power Finance & Investment Summit 2015, March 25, 2015
- Moderator, "Solar/Storage Business Models for Eastern Markets," Distributed Solar East 2014, May 20, 2014
- Presenter, "Termination for Convenience and Project Financing," 4th Defense Renewable Energy Summit, May 19, 2014
- Moderator, "Large Energy Users' Perspectives on Energy Savings and the Role of Distributed Solar," Distributed Solar Summit 2013, November 19, 2013
- Presenter, "Termination for Convenience and Project Financing," 3rd Defense Renewable Energy & Military Microgrids, April 8, 2013