Best Project Finance Lawyers in Murfreesboro

1. About Project Finance Law in Murfreesboro, United States

Project finance is a method of funding complex, large scale projects where the creditors rely primarily on the project’s cash flow for repayment. In Murfreesboro, Tennessee, this typically means creating a special purpose vehicle (SPV) to own the project assets, while lenders look to project contracts such as power purchase agreements, delivery contracts, or tolling agreements for security and revenue streams. The sponsors usually contribute equity, and the debt often runs non-recourse or limited-recourse to the SPV.

Key features in Murfreesboro projects include robust risk allocation, detailed off take or usage agreements, and strong collateral packages. Local developers frequently partner with banks, insurance companies, and specialized project finance lenders to fund infrastructure, energy, or large commercial developments. In Tennessee, disputes often arise around security interests, lien rights, and payment regimes tied to construction milestones or revenue milestones.

Practicing project finance law in Murfreesboro requires familiarity with state and local processes, including how financing statements are filed, how mechanics liens are perfected, and how local permit regimes interact with financing plans. A lawyer in this field acts as a negotiator, drafter, and risk manager across multiple jurisdictions-state, county, and city-while coordinating with lenders, engineers, contractors, and offtake counterparties.

In Tennessee, the work often involves coordinating with local government bodies for permits or incentives, and understanding how state law governs secured transactions, construction liens, and regulatory approvals. Lawyers may also help structure tax equity, credit enhancements, and guarantees when relevant to the project type. The aim is to align the financing structure with practical construction timelines and long term revenue streams.

2. Why You May Need a Lawyer

Here are concrete scenarios in Murfreesboro where Project Finance legal counsel is essential:

• You are financing a large solar or energy storage project near Murfreesboro and need a structured SPV, power purchase agreements, and interconnection arrangements reviewed by counsel.
• A city or private developer plans a public infrastructure project requiring short term construction financing and long term operating agreements, raising questions about lien priority and security interests under Tennessee law.
• You must perfect security interests in equipment, receivables, or project assets and file the appropriate UCC financing statements in Tennessee to protect lenders' rights.
• A contractor or supplier is asserting a mechanics lien on a project site in Rutherford County and you need counsel to navigate notice requirements, lien priority, and potential lien releases.
• Tax equity or incentives are part of the structure for a renewable project, and you need guidance on eligible structures, compliance, and documentation to satisfy investors and the IRS or state programs.
• You are negotiating complex credit facilities, guarantees, hedging agreements, and EPC contracts, and require careful risk allocation and enforceable remedies in case of default.

3. Local Laws Overview

The following laws and regulations commonly govern project finance activities in Murfreesboro and Tennessee. These items are named to help you locate current texts and recent changes via official sources.

• Tennessee Uniform Commercial Code Article 9 - Secured Transactions (Tennessee Code Annotated Title 47)

Article 9 governs secured interests in personal property, financing statements, and perfection of security interests. It is central to project finance lending and the creation of fundable collateral packages for SPVs and lenders.

Current text and updates can be found through official Tennessee code resources. For official references, consult the Tennessee Secretary of State or the Tennessee Code publication site.

Article 9 of the Uniform Commercial Code governs secured transactions and the filing of financing statements.

Source: Tennessee Secretary of State and official Tennessee Code resources.

• Tennessee Construction Lien Law (Construction Lien Act) - Mechanics Liens (Tennessee Code Annotated Title 66, Chapter 11 et seq.)

This statute governs mechanics liens, notice requirements, lien priority, and remedies for contractors, subcontractors, and material suppliers on real property improvements in Tennessee. It is frequently implicated in project finance where construction costs are financed and lien rights affect payment waterfalls.

The Construction Lien Law provides mechanics lien protection for contractors and suppliers on construction projects in Tennessee.

Source: Tennessee Code Annotated Title 66 and official state resources.

• Tennessee Public Utilities Commission Rules and State Utilities Framework (Title 65 and related TPUC regulations)

This area covers siting, regulation, and rate approvals for energy and utility projects, including questions that arise for project finance in energy, water, and telecom infrastructure, with oversight by the Tennessee Public Utilities Commission.

The Tennessee Public Utilities Commission regulates energy projects, including siting and rates for electric utilities and power projects in the state.

Source: Tennessee Public Utilities Commission and related state law resources.

4. Frequently Asked Questions

What is project finance?

Project finance funds a project based on its own cash flow rather than the sponsor's balance sheet. The project is typically owned by an SPV with lenders secured by project assets and contracts.

How do I start a project finance deal in Murfreesboro?

Begin with a clear business case, assemble the core contracts (offtake, EPC, O&M), create an SPV, and then approach lenders with a term sheet and risk matrix. Engage counsel early to draft and review documents.

What is a non-recourse loan?

A non-recourse loan is repaid primarily from project cash flow and collateral, with limited or no recourse to sponsors. Lenders focus on project viability and assets, not sponsor assets.

How long does it take to close a project finance deal?

Typical timelines range from 3 to 9 months depending on project complexity, regulatory approvals, and contract negotiations. In Murfreesboro, local permitting can add time.

Do I need a Tennessee-based attorney for this?

Yes. Local practice knowledge helps with filing requirements, lien rules, and regulatory approvals specific to Rutherford County and Tennessee courts.

What is a mechanics lien and when is it used?

A mechanics lien is a security interest in real property for contractors and suppliers who have not been paid. It is used to secure payment for improvements or construction work.

What is the role of a Special Purpose Vehicle in project finance?

The SPV isolates project risk from sponsor entities and provides a clear structure for asset ownership, debt, and revenue streams for lenders.

What are common security packages in Tennessee project finance?

Security packages often include mortgages or deeds of trust, assignments of contracts and receivables, perfected UCC liens, parent guarantees, and performance bonds when applicable.

What is a power purchase agreement, and why is it important?

A PPA is a long term contract for selling electricity to a purchaser. It provides a predictable cash flow that lenders rely on to finance energy projects.

Can I use tax incentives or credits in project finance?

Yes, where eligible. Counsel helps confirm qualification, structure incentives correctly, and ensure compliance for investors and authorities.

Should I involve the local government early in the process?

Yes. Early engagement helps with permits, incentives, land use, and any municipal support that could affect the financing plan.

Is a greenfield project different from a brownfield project for financing?

Yes. Greenfield projects require longer permitting and construction timelines, while brownfield projects may rely more on existing assets and revenue streams.

5. Additional Resources

Access these official resources for project finance guidance, forms, and regulatory information in Tennessee:

• SEC.org - Securities and Exchange Commission: guides on securities offerings, disclosures, and compliance for project finance transactions. sec.gov
• Tennessee Department of Commerce and Insurance (TDCI) - Regulates lenders, financial institutions, and professional licensing in Tennessee. tn.gov/commerce
• Tennessee Secretary of State - Handles business registrations, UCC filings, and corporate records relevant to project finance. sos.tn.gov

6. Next Steps

1. Define the project scope and financing plan - List asset types, expected costs, timelines, and revenue streams. Prepare a high level risk register. Time estimate: 1-2 weeks.
2. Identify local counsel with project finance experience - Search Tennessee law firms, request client references, and verify SPV, PPA, and lien experience. Time estimate: 1-2 weeks.
3. Gather and organize documents - Collect draft contracts, project budgets, site permits, and preliminary term sheets. Time estimate: 1 week.
4. Schedule consultations and prepare questions - Meet potential lawyers to discuss structure, risk allocation, and regulatory hurdles. Time estimate: 1-3 weeks.
5. Discuss engagement terms and fees - Request a scope of work, fee schedule, retainer amount, and anticipated milestones. Time estimate: 1 week.
6. Finalize engagement and appoint the lead counsel - Sign engagement letter, confirm conflicts, and set a communication plan. Time estimate: 3-7 days.
7. Begin due diligence and drafting - Start SPV setup, draft term sheets, and prepare security and lien documents. Time estimate: 2-6 weeks depending on project complexity.