Client Success

Sherin and Lodgen represents The Provident Bank in financing of hydroelectric dam

May 23, 2019

Sherin and Lodgen’s Renewable Energy practice group represented senior lender, The Provident Bank, in the financing to Canton Hydro LLC for the construction, rehabilitation, operation and maintenance of the Upper Collinsville Dam, a hydroelectric dam located on the Farmington River in Canton, Connecticut. The Dam was constructed in 1867 by The Collins Company to power their manufacturing facilities. After the Collins Company closed in 1966, the Upper and Lower Dams as well as structures on site were donated to the State of Connecticut. You can learn more about the project here. The Sherin and Lodgen team was led by partner Carla M. Moynihan. Her practice has focused on the financing, disposition, acquisition, leasing, and development of commercial real estate for over 20 years. The Provident Bank team was spearheaded by Gabrielle Piasio, Vice President of Commercial Lending, who has 15 years of experience in structuring commercial loans.

Sherin and Lodgen’s national Renewable Energy practice group 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, leasing, environmental, zoning, and permitting to navigate this ever-changing market and accomplish their business goals.

The Provident Bank, a subsidiary of Provident Bancorp, Inc. (NASDAQ: PVBC), is an innovative, commercial bank that finds solutions for our business and private clients. They are committed to strengthening the economic development of the regions they serve, by working closely with businesses and private clients and delivering superior products and high-touch services to meet their banking needs. The Provident has offices in Massachusetts and New Hampshire. All deposits are insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).