This Operating Agreement is for a single-member Limited Liability Company that will be used as a Special Purpose Vehicle (“SPV”) to engage in the development, ownership, operation, maintenance and financing of a renewable energy installation.  Investors often desire to own renewable energy assets directly or indirectly through SPVs to limit liability exposure.  If the investor creates a single-member LLC, then income, expenses and depreciation flow-through are reported on the investor’s tax returns, not on the LLC’s.