Client Success

Congratulations to our client, STAG Industrial, on the completion of solar installations in Illinois and Massachusetts

December 7, 2020

Sherin and Lodgen congratulates our client, STAG Industrial (“STAG”), on the completion of its first onsite solar installation in Illinois, and its fifth solar installation in Massachusetts. The projects are part of community solar programs and will provide low-cost renewable energy to local homes and businesses. Facilitated by Black Bear Energy in partnership with STAG, and developed by Green Street Power Partners (“GSPP”), these systems have an aggregate capacity of 3.5 MW and will generate over 4.4 million kWh of electricity annually – the equivalent of powering nearly 361 homes with solar.

Construction on both projects began in July. With the addition of these sites, STAG now hosts over 13.5 MW of solar nationally.

The Sherin and Lodgen team, led by managing partner Douglas M. Henry and partner Jennifer L. Ioli, continues to represent STAG in the rollout of a nationwide solar rooftop program.

The national Renewable Energy Practice Group at Sherin and Lodgen represents lenders, developers, municipalities, and companies committed to sustainability through solar, wind, hydro, and energy storage initiatives. Clients rely on our experience in financing, development, acquisition, leasing, environmental, and permitting to navigate this ever-changing market and accomplish their business goals. The group has particular experience assisting lenders in navigating the SMART program.

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. As of September 30, 2020, the Company’s portfolio consists of 462 buildings in 38 states with approximately 92.3 million rentable square feet.

Headquartered in Stamford, CT, Green Street Power Partners (GSPP) is a national developer, financier, owner, and operator of solar energy systems benefiting businesses and communities across the country. GSPP specializes in structured finance for solar assets, securing sponsor and tax equity alongside project-level debt financing to realize the highest value for its clients.

Black Bear Energy is a technology-enabled, commercial buyer’s representative specializing in onsite renewable energy and cleantech services. In the past five years, Black Bear has helped its clients bid out over 1,000 clean technology projects in more than 20 states through its data-driven process.