Vinson & Elkins Advises Encore Redevelopment on Financing of Solar and Energy Storage Facilities
Vinson & Elkins advised Encore Redevelopment, LLC (“Encore”) as lead counsel in the tax equity/preferred equity financing, and construction, term loan and development debt financing of a portfolio of approximately 100.843 MWdc of solar generating facilities and 6.993 MWac energy storage facilities located in Colorado, Illinois, Maine, Michigan, New Hampshire, New York, New Mexico, Pennsylvania, Virginia, and South Carolina.
The Vinson & Elkins team will advise Encore in the sale of ITCs generated by the Projects to a third-party purchaser pursuant to a separately negotiated tax credit transfer agreement.
The Vinson & Elkins team was led by, on the tax equity/preferred equity financing, partners Aaron Prince and Jorge Medina, with assistance from senior associates Rimal Kacem and Bill Olaguera, and associates Matthew Brehm, Katie Dillard and Sarah McIntosh, and on the construction, term loan and development debt financing, partners Eamon Nolan and Leila Ravi, with assistance from counsel Noelle Alix; associate Kelly McGee; and law clerk Joao D’Ottavino Sette. Also advising were partner Matthew Dobbins and associate Alyssa Sieja; partner Palmina Fava and counsel Elizabeth McIntyre; counsel Scot Dixon; partner Mike Tomsu; counsel Heather Reynolds Johnson.
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