Projects team represents Opdenergy in US$252m financing for client’s first US solar projects

Global law firm Norton Rose Fulbright represented Opdenergy in the debt and tax equity financing for the company's first two utility-scale solar projects in the United States.

The 100 MWdc Blake project is in Jefferson County, West Virginia, and the 160 MWdc Elizabeth project is in Allen Parish, Louisiana. Both are fully contracted and hold long-term power purchase agreements with AEP Energy and Entergy Louisiana, respectively.

Both projects are currently under construction and are expected to be operational within the next few months. In addition to creating more than 600 jobs, the projects are estimated to displace approximately 260,000 tons of carbon emissions annually.

BBVA, Intesa Sanpaolo and MUFG led the US$252 million debt financing and RBC is providing the tax equity financing.

Norton Rose Fulbright's deal team was led by Keith Martin, Marissa Leigh Alcala (Washington, DC) and Connie Gao and included Dylan Gera (Los Angeles) and Laela Shallal (Washington, DC).

Additional support was provided by Caileen Kateri Gamache (Houston), Sameer A. Ghaznavi (Chicago), Debra Ann Palmer and Sol Kwon (Washington, DC).