Community Solar Portfolio – NYCEEC

SPR represented a lender as primary counsel (with support from local counsel for non-New York specific issues) for $10MM revolving development credit facility supporting Greenwood Sustainable Infrastructure (GSI), a subsidiary of Libra Group, in its community solar projects across the Northeast and Mid-Atlantic states. The flexible financing structure, negotiated and drafted during a period of uncertainty with regard to the availability of funds under the Greenhouse Gas Reduction Fund, currently supports financing for a wide range of projects including a 2.42 MW solar development located in Schoharie County, New York, a 6.8 MW solar development located in Cortland County, New York, a 5 MW solar development in Will County, Illinois, and a 5 MW solar development located in Kane County, Illinois. SPR’s work included the review of construction, permitting, state incentives, and tax credit regimes in approving projects and determining deal structures.