Hagai Zaifman is a Partner in the Firm's Global Tax Practice. He works closely with both the Global Energy, Infrastructure, Project & Asset Finance Practice and Global Mergers & Acquisitions Practice.
Hagai advises sponsors, investors and lenders on project finance, asset & aircraft finance and leasing transactions, with particular emphasis on financing and structuring US renewable energy and infrastructure projects, as well as other complex partnership structures and transactions.
Hagai has extensive experience structuring, planning and negotiating renewable energy transactions, including tax equity financing through flip partnerships and leases, project development, repowering transactions and advising on the qualification of projects for the various available tax credits, as the production tax credits (PTC) and investment tax credits (ITC), under IRC sections 45 and section 48.
Hagai also has significant experience with the new markets tax credit (NMTC) under IRC section 45D and the carbon sequestration credit under IRC section 45Q.
Prior to joining the Firm, Hagai worked at General Electric Capital (GE) where he served in several tax leadership roles, including as the Tax Director at GE Energy Financial Services (GE EFS), one of the leading investors in renewable projects in the US. In this role, he led the GE EFS tax team and oversaw all of the tax aspects of the business, including underwriting, investing, managing and disposing of US$10+ billion debt and equity portfolio of US and foreign wind and solar projects. Prior to joining GE, he practiced tax for several years in a NY-based global law firm.
Hagai received his LLM from New York University and his LLB from Tel Aviv University. He is qualified to practice in New York.
Recent matters in renewable energy and infrastructure projects include the representation of:
- Morgan Stanley Infrastructure Partners (MSIP) on the acquisition, through funds managed by MSIP, of Seven Seas Water, a leader in Water-as-a-Service solutions (WaaS®).
- GE Energy Financial Services and BHE Renewables, as tax equity investors, in a 250MW Amadeus wind farm in Texas.
- Morgan Stanley, as a lender and lead arranger, for financing of the 261MW Blooming Grove wind farm in Illinois, developed by Invenergy.
- The tax equity investor in the 300MW Ranchero wind farm in Texas. The project was sponsored by Scout, a portfolio company of Quinbrook Infrastructure Partners.*
- The tax equity investor in the repowering of the 100MW Southwest wind farm in Oklahoma and 204MW Whiptail wind farm in New Mexico. The projects are sponsored by NextEra Energy.*
Recent matters in aircraft financing include the representation of:
- A major operating lessor in purchasing interest in leases to Iberia and Virgin Australia.
- DVB/MUFG in financing of a JOLCO structure leasing eight aircraft to affiliates of LATAM Airlines.
- Saudi Aramco in connection with helicopter leases from Milestone.
- ALAFCO in connection with leases of two aircraft to the Pakistani Airline.
- Aeromexico in connection with multiple aircraft leases and sale-leasebacks.
*Experience prior to joining White & Case
"Leveraging PTC and ITC for Renewable Energy and the New Tax Extenders Bill", Strafford live webinar, March, 2020
"INSIGHT: IRS Guidance on Carbon Capture Credits—A Welcome Step, But Threshold Questions Remain Unanswered", Bloomberg Tax, April 2020