Kearsarge Energy secures $32 million to finance 6 solar sites in Massachusetts and Rhode Island

financing deal

Affiliates of Kearsarge Energy have secured $32 million for the construction and permanent financing of six solar PV and energy storage systems in Massachusetts and Rhode Island.

The Renewable Energy Practice Group of Boston law firm Sherin and Lodgen LLP represented Cambridge Savings Bank in the loan facility for the projects. Located on various properties in Massachusetts and Rhode Island, the projects will generate approximately 22 million kWh of power and 6 MW of battery storage. The projects include ground-mounted, rooftop and parking canopy solar facilities.

The Sherin and Lodgen team was led by Beth A. Goldstein, chair of the firm’s Renewable Energy Group, and associate Tanya M. Larrabee

Goldstein represents clients engaged in complex renewable energy transactions including construction and permanent financing of clean energy facilities, permitting, development and leasing for solar and battery energy storage projects, energy regulatory issues, and transactions involving the purchase and sale of renewable energy projects. Her leasing practice includes landlord and tenant representation in the leasing of renewable energy, industrial, retail, restaurant and office space. Larrabee represents renewable energy clients in the acquisition, development and financing of solar, wind and energy storage projects, including advising on state incentive programs.

Sherin and Lodgen’s Renewable Energy Practice Group represents lenders, developers, municipalities and companies committed to sustainability through solar, wind, hydro and energy storage initiatives. Clients rely on their experience in financing, development, acquisition, leasing, environmental and permitting to navigate this ever-changing market and accomplish their business goals. The group has particular experience assisting lenders in navigating the Solar Massachusetts Renewable Target (SMART) program.

Kearsarge Energy is a renewable energy project developer, long-term owner, operator and asset management company that was formed in 2009. The company works closely with local communities, leveraging its experience and access to project finance. Focused on commercial- and utility-scale renewable energy projects, Kearsarge has completed more than 220 MW in solar projects and energy storage systems worth approximately $500 million.

— Solar Builder magazine

[source: https://solarbuildermag.com/energy-storage/kearsarge-energy-finance-solar-sites-massachusetts-rhode-island/]

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