Profile
David Gillespie is a transactional lawyer focusing on tax, energy transition and infrastructure. He regularly advises clients on energy-related tax credits from both project development and financing perspectives. His practice includes project development, tax-equity financings, tax credit sales, cross-border and domestic mergers and acquisitions, leasing and other complex transactions. David’s experience includes advising developers, sponsors, major financial institutions, tax equity investors, energy and infrastructure funds, among others in a wide range of sectors, including solar, wind, battery storage, electric vehicles, carbon capture and sequestration, geothermal, nuclear, renewable natural gas, hydro, clean fuels, conventional power, transportation, social infrastructure, rail, aviation, and maritime.
David previously was a founder of an international advisory business for the structured financing of energy, transportation, and infrastructure assets.
Concentrations
- Energy-related tax credits
- Energy-related financings and mergers and acquisitions
- Tax credit sales
Capabilities
Experience
- Represented major financial institutions and sponsors in tax-equity financings involving various wind, solar and battery projects.
- Represented sponsors in the development of clean hydrogen projects.
- Represented a Fortune 100 company in connection with the $300,000,000 purchase of a 10-year forward commitment of PTCs generated by a utility-scale solar facility.
- Represented a Fortune 100 company in connection with the purchase of $138,000,000 in investment tax credits generated by one of the largest operating solar + storage projects in the Western Hemisphere.
- Represented a Fortune 100 company in connection with the purchase of $118,500,000 in investment tax credits generated by two solar facilities.
- Represented a Fortune 100 company in connection with the purchase of $177,000,000 in investment tax credits generated by a utility-scale battery storage project.
- Represented a Fortune 100 company in connection with the purchase of $175,000,000 in tax credits generated by a utility-scale photovoltaic solar project paired with a battery energy storage system located in California.
- Represented a Fortune 100 company in connection with the purchase of $60,000,000 in tax credits generated by a solar project located in California.
- Represented a Fortune 100 company in connection with the purchase of $72,000,000 in investment tax credits generated by two solar projects and the expansion of a currently operating battery storage project.
- Represented a Fortune 100 company in connection with the purchase of $36,500,000 in tax credits generated by three community solar facilities.
- Represented a Fortune 100 company in connection with the purchase of $50,000,000 in tax credits generated by four community solar facilities.
- Represented a Fortune 100 company in connection with the purchase of in tax credits generated by the electrochromic windows installed in the curtain wall system of a large, multi-family building located in New York.
- Represented a Fortune 100 company in connection with the purchase of $131,000,000 in investment tax credits for a wind project located in Arizona.
- Represented a Fortune 100 company in connection with the purchase of $223,000,000 in investment tax credits for a wind portfolio.
- Represented a Fortune 100 company in connection with the purchase of $110,000,000 in production tax credits for an operational wind project located in Illinois.
- Represented a publicly traded, diversified homebuilding and land development company in connection with the purchase of $53,000,000 in tax credits generated by a multi-project portfolio of solid oxide fuel cells located across various states, a unique asset type that brought additional complexity to the transaction.
- Represented a publicly traded, diversified homebuilding and land development company in connection with the purchase of $40,000,000 in tax credits generated by a solar photovoltaic project with a battery energy storage system.
- Represented a publicly traded manufacturer of solar racking and other solar equipment in the sale of 2024 and 2025 production tax credits generated by the manufacture and sale of such components.
- Represented the purchaser of $68,000,000 production tax credits generated by the production and sale of battery manufacturer of electric vehicle battery components.
- Represented an American Bank as seller in connection with an innovative sale of $70,000,000 in tax credits generated by a solar power facility and sold out of a sale-leaseback structure.
- Represented a publicly traded American multinational financial services corporation in connection with the purchase of $94,000,000 in investment tax credits generated by municipal landfill projects located in various states, a highly complex transaction due to the rules related to biogas tax credits.
- Represented POET, LLC, the world’s largest producer of biofuel and a global leader in sustainable bioproducts, in a carbon capture, utilization, and sequestration agreement with Navigator CO2 Ventures LLC for services on Navigator’s Heartland Greenway system, in connection with 45Q tax credits.°
- Represented an international infrastructure fund in the acquisition of a U.S. solar platform.°
- Representation on the sale of a solar development company to an international energy company.°
- Representation for the historic tax credit financing of the Seattle Climate Pledge Arena.°
- Represented an international infrastructure fund in its acquisition of Brooklyn Navy Yard Cogeneration Partners LP, which owns and operates a 286 MW gas-fired plant that supplies electricity and steam to New York City.°
- Represented an international infrastructure fund in the US$900M acquisition of an international gas storage business.°
- Represented an international infrastructure fund in the US$350M acquisition of a 49% cash equity interest in a portfolio of wind facilities, including over 1,000 MW of contracted wind generation capacity.°
- Representation of a major airline on a US$913 million Sukuk, backed by Her Britannic Majesty’s Secretary of State acting by the Export Credits Guarantee Department of the UK Government (currently operating as UK Export Finance), the first Sukuk for an aircraft financing backed by UK Export Finance, the first Sukuk used to pre-fund the acquisition of aircraft, and the first Sukuk financing for A380 aircraft; the aircraft will be leased to and operated by the airline.°
- Represented an international infrastructure fund in the tax-equity financing of a 110 MW wind project.°
- Represented an international infrastructure fund in the CDN$1.76B acquisition of natural gas and diluent pipeline interests.°
- Represented an international infrastructure fund in the acquisition of a 377 MW hydroelectric facility and 86-mile open access transmission system for approximately US$900M.°
- Represented an international infrastructure fund in the acquisition of one of the largest district energy businesses in the United States.°
- Represented an international infrastructure fund in the acquisition of major district energy businesses in the United States.°
- Represented an international infrastructure fund in connection with their bid for a project to design, build, finance, operate, and maintain Section 5 of I-69 in Indiana.°
- Represented a construction company in its bid for a project to design, build, and finance the second Innerbelt Bridge on I-90.°
- Represented a public authority in connection with structured financing of a 100 MW photo voltaic solar power facility.°
- Represented an international syndicate and short-listed bidder in its bid for the Knik Arm Crossing Project.°
- Represented a major airline in connection with a concession to finance, improve, operate, develop, modernize, and maintain the Luis Munoz Marin International Airport in San Juan, Puerto Rico.°
- Represented an international infrastructure fund in the acquisition of a 150 MW wind farm in CAISO.°
- Represented a major airline, operating lessors, aircraft manufacturers, and financial institutions in connection with the acquisition, sale, leasing, and financing of commercial aircraft with an aggregate value in the billions.°
- Represented a major international oil company, manufacturing companies, and mining companies in connection with the acquisition and lease-financing of railcars.°
- Represented major international financial institutions in connection with the financing of vessels with an aggregate value in the billions.°
- Represented major international banks in US$1B tax-based (non-U.S.) financing of automobile manufacturing facility in the United States.°
- Represented an investor in the sale of interests in the Palo Verde nuclear facility.°
- Represented an international fund in the potential acquisition of generation and transmission assets in Latin America.°
- Represented public authorities and investors in connection with alternative energy investments with an aggregate value in the billions.°
- Represented a major league professional sports team in the financing of a new stadium involving both public and private financing sources.°
- Represented equity investors in numerous lease financings of real estate, facilities, industrial equipment, and transportation equipment with an aggregate value in the billions.°
- Represented investors in and sellers of electric power generating companies and assets with aggregate value in the billions.°
- Represented an investor in acquisition of two airlines.°
- Represented an investor in connection with acquisitions of companies in bankruptcy.°
- Represented a major financial institution in providing various capital markets products.°
- Represented a major financial institution in the development and implementation of innovative leasing structures.°
- Represented a major aircraft manufacturer in connection with the development and implementation of an international vendor finance program.°
- Represented a financial subsidiary of a major manufacturing corporation in numerous acquisitions and financings of commercial aircraft in deals with an approximate aggregate value of over US$1B.°
- Represented a domestic municipal lessee in transactions involving rail assets.°
- Represented equity investors in connection with restructuring of leveraged-lease transactions with an aggregate value in the billions.°
- Represented equity investors in leveraged-lease transactions involving billions of dollars of assets in connection with lessee bankruptcies.°
°The above representations were handled by Mr. Gillespie prior to his joining Greenberg Traurig, LLP.
- Partner, Co-Chair of Global Structured Finance and Leasing, Arthur Andersen & Co, 1998-2002
Recognition & Leadership
- Listed, The Best Lawyers in America, 2010-2026
- Tax Law, 2010-2026
- Railroad Law, 2023, 2026
- Energy Law, 2026
- Team Member, IJInvestor Awards, “Renewables & Energy Transition Deal of the Year,” 2021
- Listed, The Legal 500 United States, 2013-2023
- Recommended Lawyer, Transport: Aviation and Air Travel – Finance, 2022-2023
- Recommended Lawyer, Tax: International Tax, 2017, 2021-2022
- Recommended Lawyer, Tax: Domestic, 2015-2022
- Recommended Lawyer, Project Finance, 2013-2014
- Recommended Lawyer, Asset Financing & Leasing, 2014-2015
- Listed, IFLR1000
- Financial Restructuring, M&A, 2020
- United States, Euromoney Institutional Investor PLC, 2018
- Listed, Super Lawyers magazine, New York Metro Super Lawyers, 2008-2023
Credentials
Education
- J.D., Georgetown University Law Center
- A.M., University of Chicago, Committee on Social Thought
- B.A., with honors, Wesleyan University
Admissions
- New York