Paul Hastings Advised BMO as Administrative Agent and Sole Lender on Greenbacker Capital Management’s $92 Million Solar Financing

December 22, 2023

Paul Hastings LLP advised BMO as administrative agent and sole lender in connection with a $92 million debt financing agreement with an affiliated investment vehicle of Greenbacker Capital Management. The financing will support the construction of its 30MW/120MWh Holtville battery energy storage system (BESS), as well as a portfolio of community solar projects in the U.S.. To be located in Imperial County, California, the Holtville project is Greenbacker’s largest BESS project to date. Greenbacker acquired the project from SunCode Energy in June.

Greenbacker Renewable Energy Company is an independent power producer and investment manager with strategies that connect investors seeking stable returns with the income-producing renewables assets that we it owns and operates, expanding clean energy access to communities around the country.

Energy and Infrastructure co-chair Rob Freedman led the Paul Hastings team, which also included associates Claire Melvin, Christine Fiedler, and Elena Rodriguez.

More details about the transaction can be found here.

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