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Durham C. McCormick, Jr. Partner

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Houston T +1 713 353 6691 F fax +1 832 214 9934
Austin
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Durham serves as co-lead of our renewable energy team. He focuses his practice on tax structuring for renewable energy transactions, with a particular emphasis on production tax credits (PTC), investment tax credits (ITC) and Section 1603 Treasury Grants.

Durham’s renewable energy experience includes project developments, joint ownership arrangements, power purchase agreements, transmission agreements, turbine supply agreements, balance of plant contracts, financings, acquisitions, divestures and operational matters. He also has significant experience representing clients with their mergers and acquisitions, finance ventures, capital raises and general governance.

Over the course of his career, Durham has represented wind, solar and geothermal project developers, consumer-owned utilities, borrowers, real estate developers, and buyers and sellers of businesses in deals aggregating well over 5,000 MWs. He also regularly writes and speaks on tax equity trends impacting the renewable energy industry.

Durham is licensed to practice in Texas, Washington and Oregon. He is also admitted to practice in U.S. Tax Court. Durham has a master’s of law in taxation from Georgetown University Law Center.

Experience

  • Outside general counsel to a Washington state electric cooperative for all operational and renewable energy investment matters, including coop governance, structuring for renewable energy investments, formation of taxable subsidiary corporations for investments in wind energy generation projects while preserving tax-exempt status of electric coop, revenue bond and debt issuances, collection matters, telecom joint ventures and other day-to-day operational matters.
  • Representation of geothermal company in acquisition of geothermal projects.
  • Project counsel in connection with the development, financing and operation of a 99 MW wind electrical generation, including qualifying the project for the United States Treasury’s Section 1603 Grant program.
  • Representation of co-energy purchaser in the first tax-equity finance structure in the U.S. using pre-paid power purchase agreements.
  • Representation of consumer owned utility in connection with bond offering to fund twenty-year prepaid PPA and credit facility to fund investment in wind energy project.

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