The Solar Energy Practice Group of Boston law firm Sherin and Lodgen LLP represented Boston Private Bank & Trust Co. in the development of a virtually net metered 3.106 MW solar project located in Halifax, Mass.
The electricity generated by the project will be sold to the City of Brockton as part of the power purchase agreement with investor and owner, NuGen Capital, affording the city with valuable savings to its electric bill while providing the Town of Halifax with tax benefits.
“Sherin and Lodgen’s deep understanding of the solar space creates a collaborative atmosphere that benefits all parties to a transaction,” said Dan Poydenis, Managing Director and General Counsel of NuGen Capital, the owner of the project. “As lender’s counsel, they consistently negotiate the right structure and deal for their client without compromising the business objectives of the borrower.”
Bethany A. Bartlett, chair of the Group and a partner in Sherin and Lodgen’s Real Estate Department, along with associate Beth A. Goldstein, led the legal team involving Boston Private’s construction-to-permanent $6.8 million loan for project development.
Bartlett focuses her practice on transactional real estate and includes the acquisition, disposition, leasing and financing of both developed and to-be-developed properties, including land use, zoning and permitting matters, as well as conservation and deed restrictions for the preservation of open space. She has a specialty concentration in representing lenders in complex financing transactions, including Solar, New Market and Historic Tax Credit deals, as well as permanent financing for solar facilities.
— Solar Builder magazine