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Billi McCullough


555 17th Street, Suite 3200, Denver, CO 80202

Billi McCullough focuses her practice in three areas: infrastructure development, complex debt financing, and strategic transactions.

Her clients range from portfolio to multinational companies, both private and publicly traded. She represents project developers, issuers, borrowers, venture capital funds, and private equity investors.

Billi helps infrastructure developers to successfully build, finance, and sell their projects, and works closely with companies of all types and sizes to design, develop, and implement ideal financing packages. She also helps clients to buy and sell companies, complete complex joint ventures, and raise dedicated capital through equity transactions. 

Billi’s experience is strongly focused in the energy and natural resources industries. She has developed particular expertise counseling renewable energy clients, including developers and owners of wind farms, utility-scale solar farms and distributed generation solar projects.

As a former chief corporate development officer for an application service provider and general counsel for an international telecommunications company, Billi truly understands the challenges her clients face. She approaches all of her transactions from a pragmatic perspective to ensure her clients’ strategic objectives are met.


  • Finance
    • Term and revolving credit facilities, representing borrowers, developers, and lenders
    • Debt offerings in the capital markets, representing borrowers
    • Private debt transactions, representing borrowers and lenders
  • Strategic Acquisitions and Dispositions
  • Private Equity Transactions
  • Financing and Restructuring 
  • Joint Venture Arrangements
  • Mergers & Acquisitions
  • Project Finance & Strategic Transactions 
  • Entity Selection and Formation
  • Partnering and Joint Ventures
  • Auction Processes
  • Equity Financings
  • Tax Credit Monetization
  • Construction and Term Debt Financing
  • Single-Project and Portfolio Lending
  • Joint Venture Agreements
  • Mergers & Acquisitions

Development Contracts
  • Utility Power Purchase Agreements
  • Pre-Paid, Commercial Offtaker, and other Non-Traditional Power Purchase Agreements
  • Shared Facilities Arrangements

Client Results

Project Finance and Strategic Transactions
  • Lead counsel in the acquisition of, and subsequent financing and loan restructuring for, two solar photovoltaic projects, 20MWs and 30MWs respectively, located in Imperial County, California. 

  • Lead Counsel in the financing of two separate portfolios of distributed generation projects in Colorado.  

  • Lead counsel to a financing party to a joint venture selling three development-stage solar farms in Southern California with a combined capacity of 100 PPA contracted MWs. 

  • Lead counsel in the acquisition from Chevron and CONSOL of undeveloped coal surface mine assets located in Wyoming and Montana. The purchase and sale included the purchase of membership interests and project assets.

  • Lead Counsel in connection with a joint venture to develop a planned deep water export terminal designed to handle commodities such as coal, grain, and potash.

  • Lead Counsel in connection with a joint venture for the exploration and eventual exploitation of mining prospects and projects in northern Chile.


Bar Admissions


  • Denver Business Journal Top Women in Energy, 2016
  • Who's Who Legal, Project Finance, 2017
  • The Best Lawyers in America©, Corporate Law, 2020

Professional and Civic Affiliations

  • Colorado Bar Association, Member
  • Denver Bar Association, Member
  • Massachusetts Bar Association, Member

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