Stoel Rives congratulates its client Pivot Energy on closing an approximately $203 million financing facility that will be used to support a 100 MWdc multistate portfolio of distributed generation solar projects comprising 35 community solar and commercial and industrial (C&I) projects, all of which are slated to be operational by mid-2024.
As well as commercial clients, the community solar subscribers in the portfolio include residential customers and some 8,000 low-to-moderate income households. The projects will be located in Colorado, Minnesota, Illinois, New York, Hawaii, Maryland, and California.
Pivot Energy, a Certified B Corporation, is a leader in the development of onsite solar projects and small utility solar projects, including community solar, in the U.S. The company is committed to accelerating the energy industry’s transition to a more decentralized and cleaner approach to power generation and to positively contributing to the local communities and people it serves.
The Stoel Rives deal team was led by Miles Killingsworth and included Heather Stewart, Xiaowan Mao, and Archer Wu.
For more on the deal, see the Pivot press release.