Max Learner

Max Learner

Associate

Energy and Climate Solutions

Max Learner is an associate in the San Francisco office of Wilson Sonsini Goodrich & Rosati, where he is a member of the energy and climate solutions practice.

During law school, Max focused his curriculum on energy and business law. Outside the classroom, he co-founded and led Clean Energy Leaders in Law, a pro bono organization that offers legal support to low-income and community solar development, and was the president of the Berkeley Energy & Resources Collaborative at Berkeley Law, a community of like-minded law students passionate about the climate transition.

Experience

Max Learner is an associate in the San Francisco office of Wilson Sonsini Goodrich & Rosati, where he is a member of the energy and climate solutions practice.

Education

J.D., UC Berkeley School of Law, 2023Co-President and Founder, Clean Energy Leaders in Law; President, Berkeley Energy Resources Collaborate at Berkeley Law; Certificate in Energy and Clean Technology Law; Jurisprudence Award in Renewable Energy Project Development & Finance; Jurisprudence Award in Venture Capital Finance
B.A., Physics, University of Pennsylvania, 2018Magna Cum Laude

Admissions

State Bar of California

Credentials

Education

J.D., UC Berkeley School of Law, 2023Co-President and Founder, Clean Energy Leaders in Law; President, Berkeley Energy Resources Collaborate at Berkeley Law; Certificate in Energy and Clean Technology Law; Jurisprudence Award in Renewable Energy Project Development & Finance; Jurisprudence Award in Venture Capital Finance
B.A., Physics, University of Pennsylvania, 2018Magna Cum Laude

Admissions

State Bar of California

Select Publications

Co-author, “FERC Initiates New Proceeding to Review Its Policy on Federal Power Act Section 203(a)(2) Blanket Authorizations, Posing Potential Ramifications for ESG Investing,” Wilson Sonsini Alert, January 3, 2024

Insights

Select Publications

Recent Insights

Client Highlights

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

On April 25, 2024, On.Energy, a fully integrated energy storage solutions provider and Independent Power Producer (IPP), announced the closing of a $25 million senior secured first lien facility with Lombard Odier Investment Managers (LOIM) on behalf of funds under its management, including the LOIM Sustainable Private Credit Strategy. Wilson Sonsini Goodrich & Rosati advised On.Energy on the transaction.

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