LOS ANGELES and WASHINGTON, D.C. – Sept. 21, 2022 – Global law firm Greenberg Traurig, LLP helped client Clēnera to close on construction and tax equity financing for the 105 MW DC Apex Solar project located in Beaverhead County, Montana.
The transaction has been reported as one of the only large utility scale solar sale-leaseback in the market. Simultaneously Greenberg Traurig is representing Clēnera in a construction loan from Bank of America and NORD/LB, a German bank active in renewable energy financing in Europe and the United States, to fund the project through a construction loan. Huntington National Bank will provide long-term financing via sale and leaseback tax equity financing for Apex Solar following commercial operations.
The Greenberg Traurig deal team was led by Jeffrey A. Chester, co-head of the firm’s Energy Project Finance & Development Practice, and John Eliason, global co-head of the firm’s Energy Project Finance & Development Practice.
“We appreciate the trust Clēnera placed in our legal counsel and look forward to working with them further,” Chester and Eliason said.
Clēnera, an Enlight company, acquires, build, develops, and manages energy storage facilities and utility-scale solar farms throughout the United States. Clēnera has developed and built over 1.6 GWdc of solar projects and provides long-term management of those projects.
The Greenberg Traurig team also included Chicago Shareholder Alejandra Garcia Earley, Boston Shareholder Gregory K. Lawrence, Atlanta Shareholder Christine M. Steenman, Chicago Of Counsel Daniel D. Balys, Houston Associate Kristen E. Bollinger, Chicago Associate Keyon Brown, and Washington, D.C. Associate Braxton T. Roam.