In December 2018, Wilson Sonsini represented Siemens Financial as a tax equity investor in connection with a tax equity investment in the repowering of (i) a 278.2 MW wind generation facility in Upton County, Texas; (ii) a 176.3 MW wind generation facility in Pecos County, Texas; and (iii) a 91.7 MW wind generation facility in Pecos County, Texas, each being developed by one of the largest renewable energy project developers in the U.S. In connection with such tax equity transactions, the investors made an upfront equity investment of approximately $185 million, and the company also has ongoing PAYGO payment obligations of approximately $61.8 million.  In addition, the firm represented Siemens Financial as a lender in connection with a back-leverage loan secured by membership interests and specified rights in such portfolio of wind generation facilities. In connection with this back-leverage loan transaction, the lender made a $60 million 10-year, fixed-rate loan.