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Elena Maria Millerman


Co-head of Infrastructure Finance. Clients benefit from her track record of working on cutting-edge transactions across the Americas and globally. 

Co-head of our Infrastructure Finance practice, Elena is a recognized leader in project and infrastructure finance. She advises clients on sophisticated, high-profile financings in the Americas and globally, primarily across the infrastructure, power, and oil and gas sectors. Her work includes many first-of-their-kind transactions.

Clients appreciate Elena’s deep understanding of the commercial arrangements involved in these projects and her sophisticated knowledge of project, term loan B, mezzanine and hybrid finance structures. She also has extensive experience with acquisition financings, project bonds and private placements, other debt-structured products, and equity financings.

Elena’s work is recognized by publications including Chambers, which describes her as “a go-to lawyer in the energy infrastructure space, with particular strengths advising clients on structured finance transactions.” Clients say she is “very knowledgeable” and “always available, sharp and on top of the issues.”


Experience highlights

Elena’s representations prior to joining Davis Polk include:

  • Sole lender in a $250 million senior secured term loan to U.S. Well Services, a leader in electric hydraulic fracturing services and technology
  • GenOn, Heritage Power and its subsidiaries in connection with the $520 million term loan B financing of Heritage Power, a 2,240 MW portfolio of 16 power generation assets in the PJM Interconnection. The financing also included nearly $100 million in revolver and letter of credit facilities.
  • Carlyle as sponsor in a $570 million loan package for the acquisition by its affiliate Revere Power of a 1,100 MW portfolio of three combined-cycle gas-fired facilities in New England from Emera. The financing consisted of a term loan B, term loan C and revolver.
  • Lead arranger in a $350 million secured bridge loan facility to EPIC, an affiliate of Ares Management, for the development and financing of the EPIC Crude Pipeline
  • Lender and agent in negotiating and documenting the restructuring of over $600 million in liabilities and providing DIP and exit financing in connection with the prepackaged chapter 11 case of Talen Energy’s power portfolio, MACH Gen
  • Lead arrangers in a $440 million senior secured credit package to finance the acquisition by Platinum Equity of the 810 MW Hunterstown combined-cycle gas-fired power plant from GenOn
  • Global Infrastructure Partners in connection with a $725 million term loan B to finance its acquisition of Medallion Gathering & Processing, the largest privately held crude oil transportation system in the Midland Basin of West Texas
  • Lead arrangers in a $1.285 billion senior secured term loan to Traverse Midstream Partners, a pipeline investor with a portfolio of non-operated midstream assets
  • International syndicate of noteholders, lenders and institutional investors in an approximately €1 billion multi-currency, multi-tranched refinancing of the 288 MW Meerwind offshore wind farm, operated by WindMW and controlled by Blackstone and the first fully operational, privately financed offshore wind farm in Germany
  • Joint lead arrangers in the approximately $900 million hybrid-term loan A and term loan B funding for the construction, operation and maintenance of an approximately 1,124 MW 3x1 combined cycle natural gas-fired electric generating unit to be constructed in Snyder County, Pennsylvania



Chambers USA – Projects

Chambers Global – Projects, USA

IFLR1000 – Asset Finance; Project Finance 


J.D., UC Berkeley School of Law

Professional history

  • Davis Polk since 2024
  • Partner, White & Case, 2011-2024
  • Associate, Debevoise & Plimpton, 1999-2011

Qualifications and admissions

  • State of New York
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