8minute Solar Energy’s $350 Million Credit Facility Upsizing


Latham & Watkins LLP represented 8minute Solar Energy in the transaction.

8minute Solar Energy (8minute) has announced that after securing a US$225 million letter of credit and revolving credit facility earlier this year, it has significantly upsized that facility to a total of US$350 million with support from new lenders. The additional US$125 million in commitments comes from the existing lenders who are joined by Deutsche Bank, Landesbank Hessen-Thüringen (Helaba), and Norddeutsche Landesbank (NORD/LB). The expanded facility will help 8minute accelerate the development of its growing pipeline, which includes more than 18-gigawatts (GW) of solar capacity and 24-gigawatt-hours (GWh) of storage throughout California, Texas, and the Southwestern United States.

Founded in 2009, 8minute Solar Energy is a privately-held developer of solar PV and storage projects in the United States.

Latham & Watkins LLP represented 8minute Solar Energy in the transaction with a project finance team led by Washington, D.C. partner Paul Hunt (Picture), with San Diego associate Neelam Mohammed. Advice was also provided by Washington, D.C. partner Tyler Brown on energy regulatory matters, and New York partner Larry Safran, San Diego partner Omar Nazif, and Washington, D.C. counsel Chris Dolan on finance matters.

Involved fees earner: Tyler Brown – Latham & Watkins; Christopher Dolan – Latham & Watkins; Paul Hunt – Latham & Watkins; Neelam Mohammed – Latham & Watkins; Omar Nazif – Latham & Watkins; Lawrence Safran – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: 8minutenergy Renewables, LLC;

Author: Ambrogio Visconti