Client Success

Sherin and Lodgen represents Cambridge Savings Bank in $32 million financing of six solar sites in Massachusetts and Rhode Island

Sherin and Lodgen is pleased to announce that its Renewable Energy Practice Group represented lender Cambridge Savings Bank in a $32 million loan facility to affiliates of Kearsarge Energy for construction and permanent financing of 6 solar photovoltaic and energy storage systems on various properties in Massachusetts and Rhode Island. The projects will generate approximately 22 million kilowatt hours of power in addition to 6 MWs of battery storage. The projects include ground-mounted, rooftop, and parking canopy solar facilities.

The Sherin and Lodgen team was led by Beth A. Goldstein, chair of the firm’s Renewable Energy Group, and associate Tanya M. Larrabee.

Beth represents clients engaged in complex renewable energy transactions including construction and permanent financing of clean energy facilities, permitting, development, and leasing for solar and battery energy storage projects, energy regulatory issues, and transactions involving the purchase and sale of renewable energy projects. Her leasing practice includes landlord and tenant representation in the leasing of renewable energy, industrial, retail, restaurant, and office space. Tanya represents renewable energy clients in the acquisition, development and financing of solar, wind and energy storage projects, including advising on state incentive programs.

Sherin and Lodgen’s nationally recognized Renewable Energy Practice Group represents lenders, developers, municipalities, and companies committed to sustainability through solar, wind, hydro, and energy storage initiatives. Clients rely on their 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 Solar Massachusetts Renewable Target (SMART) program.

About Cambridge Savings Bank

Cambridge Savings Bank is a full-service banking institution with $6 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In 2022, CSB received an investment-grade rating from Kroll Bond Rating Agency reinforcing the bank’s position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender.

About Kearsarge Energy

Kearsarge Energy, a leading renewable energy project developer, long term owner, operator, and asset management company, was formed in 2009 by a group of energy professionals with the belief that Kearsarge could create long-term economic and environmental value by working closely with local communities while leveraging its experience and access to project finance. Focused on meeting the growing demand for reliable and cost-effective commercial- and utility-scale renewable energy projects, Kearsarge has completed over 220 megawatts and almost over $500 million of solar projects and energy storage systems. Relying on its excellent relationships with municipalities and private entities, Kearsarge has established itself as one of the leading Solar Energy and ESS Development firms in the Northeast.