Practice Areas

Renewable Energy

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.

We are frequently asked to speak on renewable energy issues and regularly attend industry conferences including Novogradac’s Financing Renewable Energy Tax Credits conference, American Wind Energy Association (AWEA) Wind Energy conference and a number of workshops for EUCI. The firm is a member of the New England Clean Energy Council, the leading voice for clean energy companies in the Northeast.

We advise our renewable energy clients on:

  • Purchase and sale of renewable energy projects at all stages of development/operation
  • Securing easement and leasing rights in connection with solar and wind farm assemblages, collection systems, and transmission
  • Structuring debt financing for solar project portfolios
  • Engineering, procurement, and construction contracts with third party contractors for both solar and storage development
  • Environmental issues related to the development of ground mounted facilities on landfills, brownfields, and Superfund sites
  • Negotiating power purchase agreements with private, public, and municipal offtakers
  • Negotiating ground, rooftop, and parking canopy leases for solar development
  • Advice and consultation related to securing, documenting and preserving tax credits through federal and state incentive programs (includes Massachusetts SMART program) arising from renewable energy production
  • Utility RFP bids for renewable energy
  • Payment in Lieu of Tax Agreements (PILOT) with Massachusetts municipalities
  • Environmental regulatory matters related to Massachusetts Endangered Species Act, Massachusetts Chapter 91 (tidelands), and Massachusetts Environmental Policy Act and other marine mammal protection regulations impacting offshore wind development
  • Negotiation of energy savings agreements for manufacturing entities
  • Lender in the financing for a portfolio of 12 solar facilities. The deal involved a back leveraged loan of $7.6 million for permanent financing of the projects, which will produce approximately 6 MW (AC) throughout various municipalities, school districts and ski resorts in Vermont. The project sites benefit from Vermont’s “Feed in Tariff” program, which allows the operators to accrue credit on their utility bills from the electricity generated from the solar facilities.
  • Lender in their first commercial solar financing. The transaction included take out financing of $7.3 million for the construction of a 2.7 MW (DC) rooftop solar array on a building in downtown Boston, MA. The capital stake included a tax credit investor in a partnership flip structured transaction.
  • Energy storage company in negotiating engineering, procurement, and construction (EPC) contracts and power purchase agreements (PPAs).
  • Solar developer in a ground lease of 211 acres of unincorporated land in California to solar development.
  • Manufacturer in negotiation of energy services agreements to assist with demand response and reduction in energy costs.
  • Industrial focused Real Estate Investment Trust in developing a solar leasing program for its properties across the United States.
  • First Parish Church in Bedford, MA in an appeal the Town of Bedford’s Historical District Commission decision denying a Certificate of Appropriateness for the installation of solar panels on the roof of First Parish’s historic Meetinghouse. The S&L team was victorious on Summary Judgment in Middlesex Superior Court, which found the Historic District Commission’s decision was facially deficient and ordered the Commission to grant First Parish a certificate of appropriateness to allow the solar panel project to move forward.
  • Lender as local counsel in connection with a construction term loan to a developer for four ground mounted facilities on former Superfund sites in Rhode Island.
  • Lender in $14 million back leveraged financing structure for three ground mounted solar facilities on landfills in Massachusetts. The facilities will produce 6.9 MW (DC) of energy.
  • Lender in $10 million construction and term loan for construction of a 3.6 MW (DC) and 4.4 MW (AC) solar array.
  • Boston area university in negotiating engineering and constructions agreements for a 40 MW combined heat and power plant.
  • Lender in $20.5 million construction to term loan with back leveraged financing structure for three ground mounted solar facilities on landfills in Massachusetts. The facilities will produce 13.7 MW (DC) of energy.
  • Lender in construction and permanent financing for seven solar facilities in Massachusetts that will provide 19 MW (DC) of energy. The financing involved a master debt facility of up to $24 million.
  • Wind developers on numerous projects throughout the U.S. on permitting, leasing, turbine supply, power purchase, and O&M agreements.
  • Lender in bridge, construction to term, and permanent financing of both operating and to be constructed Solar PV Installations. Also as lender and tax equity investor in a twinned Solar Investment and New Market Tax Credit Transactions.
  • Lender in permanent financing for 11 ground mounted solar facilities in Georgia totaling 15 MW in a partnership flip structure with a tax equity investor.
  • Lender in the development of a virtually net metered 3.106 MW solar project located in Halifax, Mass. The deal involved Boston Private’s $6.8 million loan for project development. The electricity generated by the project will be sold to the City of Brockton under a power purchase agreement with investor and owner NuGen Capital.
  • Developer in the purchase, installation and financing of solar array in Hyde Park, MA, Boston’s largest roof mounted solar project at the time.
  • Developer as borrower in a $50 million project finance facility for acquisition and development of wind farm assets.
  • Developer in negotiating wind leases for greenfield sites located in Massachusetts, Maryland, New York, and California.
  • Developer as buyer for the purchase of a 44 MW operating wind farm and associated electrical infrastructure in the Altamont Pass area of California.
  • Developer as buyer for the purchase of 52 MW of operating wind farm assets in Palm Springs, CA.
  • Developer as seller for the sale of a wind farm in Palm Springs, CA.
  • Developer in preparing bid documents for responses to the California Renewable Auction Mechanism for sale of renewable energy.
  • Developer in negotiating construction services, procurement, engineering, balance of plant, and operations and maintenance agreements for a wind farm in the San Gorgonio area of California.
  • Wind OEM in negotiating turbine supply agreements with customers, including turn-key projects.

Our clients include:

  • Lenders and banks
  • Solar developers
  • Companies pursuing sustainability strategies
  • Energy storage companies
  • Municipalities
  • Investors
  • Land owners

REPRESENTATIVE CLIENTS

  • Boston Private Bank & Trust Company
  • Cambridge Savings Bank
  • Eastern Bank
  • Kearsarge Energy
  • Union Bank & Trust Company
  • Wellesley Bank

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By Sherin and Lodgen on May 29, 2019
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