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Ira M. Palgon
Partner
Energy and Climate Solutions
New York

D212-497-7708

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  • Structured and Project Finance Expertise

    Ira’s practice focuses on a broad array of structured and project financing transactions. He has represented sponsors, banks, investment banks, and institutional and private investors in a variety of complex asset-based and non-asset-based transactions, including in the energy, banking, and shipping industries.

  • Tax Equity Finance Expertise

    Ira has represented tax equity investors and sponsors in the tax equity financings of wind farms and residential solar assets.

  • Extensive Lease Financing Experience

    He has represented both equity investors and lessees in the financing of a wide range of equipment and facilities, including power plants, wind farms, aircraft, ships, and railcars.

  • A Recognized Practitioner

    Ira was selected for inclusion in the securitization and structured finance category of the 2013-2021 editions of Best Lawyers in America.

Ira M. Palgon is a partner in Wilson Sonsini Goodrich & Rosati's New York office, where his practice focuses on a broad array of structured and project financing transactions. He has experience representing sponsors, banks, investment banks, and institutional and private investors in a variety of complex asset-based and non-asset-based transactions, including in the energy, banking, and shipping industries.

Additionally, Ira has extensive experience in tax equity and lease financing. He has represented equity investors and sponsors in the financing of a wide range of equipment and facilities, including power plants, wind farms, residential solar assets, aircraft, ships, and railcars.

Prior to joining the firm, Ira was a partner in the New York office of Covington & Burling and in the office of Dewey Ballantine.

Experience

Ira M. Palgon is a partner in Wilson Sonsini Goodrich & Rosati's New York office, where his practice focuses on a broad array of structured and project financing transactions. He has experience representing sponsors, banks, investment banks, and institutional and private investors in a variety of complex asset-based and non-asset-based transactions, including in the energy, banking, and shipping industries.

Additionally, Ira has extensive experience in tax equity and lease financing. He has represented equity investors and sponsors in the financing of a wide range of equipment and facilities, including power plants, wind farms, residential solar assets, aircraft, ships, and railcars.

Prior to joining the firm, Ira was a partner in the New York office of Covington & Burling and in the office of Dewey Ballantine.

Focus Areas
Recent Insights
Client Highlights
Firm Advises Sunrun on over $1 Billion in Non-Recourse Financings in Q2 2024, Including Record-Setting Securitization
On June 11, 2024, Sunrun, the nation’s leading home solar, battery storage, and energy services company, completed its latest asset-backed securitization of solar leases and power purchase agreements. The securitization consists of $886.3 million in A+ rated Class A-1 and Class A-2 notes and $91.2 million in BB rated Class B notes, for an aggregate $977.5 million initial balance. The notes are secured by two tax equity funds of rooftop solar and energy storage systems distributed across various states and utility service territories. ATLAS SP Securities, a division of Apollo Global Securities, LLC, acted as structuring agent and served as joint bookrunner along with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., and RBC Capital Markets, LLC as co-managers and initial purchasers for the securitization, and SMBC Nikko Securities America, Inc. as an initial purchaser. The $443.15 million Class A-1 notes were publicly marketed and the $443.15 million Class A-2 notes were privately placed. At closing, the asset-backed securitization was both the largest ever in Sunrun’s history and across the entire residential solar industry. Combined with a $230 million asset-backed securitization of solar leases and power purchase agreements closed in April 2024, the Class A-1 and Class A-2 notes collectively represent over $1 billion of senior debt financing raised by Sunrun in the second fiscal quarter of 2024. 
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Client Highlights
Firm Advises Sunrun on over $1 Billion in Non-Recourse Financings in Third Quarter of 2023, including Record-Setting Securitization
On September 26, 2023, Sunrun, the nation’s leading home solar, battery storage, and energy services company, completed its latest asset-backed securitization of solar leases and power purchase agreements. The securitization consists of $715 million in A- rated Class A-1 and Class A-2 notes and $80 million in BB+ rated Class B notes for an aggregate $795 million initial balance. The notes are secured by tax-equity and wholly-owned funds of rooftop solar and energy storage systems distributed across various states and utility service territories. Deutsche Bank acted as the sole structuring agent and served as joint bookrunner along with ATLAS SP Securities, BofA Securities, and MUFG Securities Americas, with Credit Agricole Securities, Citigroup Global Markets, ING Financial Markets, J.P. Morgan Securities LLC, SG Americas Securities, TD Securities, and Truist Securities as co-managers for the securitization. The $440 million Class A-1 notes were publicly marketed and the $275 million Class A-2 notes were privately placed. At closing, the asset-backed securitization was both the largest ever in Sunrun’s history and across the entire residential solar industry. Combined with a senior portfolio term-out financing closed in July 2023, the Class A-1 and Class A-2 notes collectively represent over $1 billion of senior term debt financing raised by Sunrun in the third fiscal quarter of 2023. 
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