Lawyers act as real estate counsel for Sol Systems in solar facility financing

A team of lawyers from global law firm Norton Rose Fulbright acted as local real estate counsel for Sol Systems, LLC in the US$251m construction loan and tax equity financing of a 150 MW utility-scale solar facility located in Saline County, Illinois.

The facility, which will use US-made solar panels and racking, will significantly advance clean energy infrastructure development in southern Illinois. It will also feature a pollinator habitat and habitat restoration efforts to better unify the project with the surrounding ecosystem.

This landmark transaction was impacted by mineral severances, corporate coal ownership, and several active oil and gas leases, requiring significant real estate curative work to be financed.

Sol Systems is a national solar energy firm focused on development, infrastructure and environmental commodities. The company has financed or developed more than US$2bn of solar projects and is operating and currently building more than 2 GW of projects.