Grasshopper Energy’s US$48 Million Financing For Solar-Plus-Storage Portfolio

Norton Rose Fulbright represented Grasshopper Energy on the matter.

The transaction involved a US$48 million financing package for a 17 MW solar-plus-storage portfolio of four large-scale, ground-mounted solar power projects located in Massachusetts. Norton Rose Fulbright advised on the construction debt financing that converts to a sale-leaseback.

This investment, provided by Fifth Third Bank, National Association, is part of Grasshopper Energy’s commitment to accelerate its US growth plans and deploy solar energy plants along the Northeast Coast. The projects will provide clean energy to the people of Massachusetts while supporting the US energy industry transition toward a low-carbon or carbon neutral model.

Grasshopper Energy is a leading producer of clean energy focused on the development, acquisition and long-term ownership of clean energy assets. The company owns US$1.8 billion in current assets and a US$6.5 billion development pipeline.

Fifth Third Bank N.A. is a subsidiary of Fifth Third Bancorp, a diversified financial services company headquartered in Cincinnati, Ohio.

The Norton Rose Fulbright team was led by David Burton (Picture – New York) and Noam Ayali (Washington, DC) and also included Dilpreet Minhas (Washington, DC), and Amy Mitchell (Austin), as well as, Marjorie Glover (New York), Stefan Reisinger (Washington, DC), Christy Rivera (New York), Bob Shapiro (Washington, DC), Kevin Prokup (New York), Drew Skroback (New York), Ibrahim Basit (Houston), Monica Borda-Olarte (Washington, DC), and Connie Gao (New York).

Involved fees earner: Noam Ayali – Norton Rose Fulbright; Mónica Borda-Olarte – Norton Rose Fulbright; David Burton – Norton Rose Fulbright; Connie Gao – Norton Rose Fulbright; Marjorie Glover – Norton Rose Fulbright; Dilpreet Minhas – Norton Rose Fulbright; Amy Mitchell – Norton Rose Fulbright; Kevin Prokup – Norton Rose Fulbright; Stefan Reisinger – Norton Rose Fulbright; Christy Rivera – Norton Rose Fulbright; Robert Shapiro – Norton Rose Fulbright; Andrew Skroback – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Grasshopper Energy;

Author: Giulia Di Palma