Projects team represents Exus North America Holdings in US$230m New Mexico solar portfolio acquisition

Global law firm Norton Rose Fulbright represented Exus North America Holdings (Exus) with its US$230m acquisition of a portfolio of nine operating solar projects and a pipeline of six development solar and storage projects in New Mexico from AEP Onsite Partners, a subsidiary of American Electric Power (AEP) and PNMR Development and Management Corporation, a subsidiary of PNM Resources, Inc.

Norton Rose Fulbright also assisted Exus with the acquisition financing for the transaction, which involved ING Capital as the administrative agent and as the collateral agent. The transaction closed on February 27, 2024.

Norton Rose Fulbright’s deal team was led by Doug Fried (New York) and Sameer Ghaznavi and also included Christine Fernandez Owen, Mitchell King, Jamal Abdulrasheed, Nina Nolan (Chicago), Jake Falk, Robert Shapiro, Debra Ann Palmer (Washington DC), Lawrence Bauer, Jared Kaplan, Laura Konkel, Bryan Stephan, Aara Tomar, Jordan Padover (New York), Daniel Rahim (Houston), Daniel Nugent (Denver) and Nick McTyre (Austin). The financing was led by Fried and Joe Giannini (New York).

Exus is a renewables asset management and development firm that manages more than 11 GW of renewable energy assets across North America and Europe.