Norton Rose Fulbright represented Savion, LLC on the deal.
Savion, LLC, a subsidiary of Macquarie Capital, sold the 200 MWac Brazoria West solar project located in Brazoria County, Texas to S&B USA (previously Shikun and Binui America).
The construction at Brazoria West Solar Project, located about 40 miles southwest of Houston, is expected to commence in the second quarter of 2021, with commercial operation expected in the second quarter of 2022.
The project has a total output capacity of 200 MWac of renewable solar energy, enough to power approximately 37,100 Texas homes. The Brazoria West Solar Project will supply renewable power to the greater Houston area, already securing one commercial and industrial Power Purchase Agreement (PPA) and another PPA with an energy trading company.
Savion, LLC is a Green Investment Group portfolio company operating on a standalone basis and one of the largest, most technologically advanced utility-scale solar and energy storage project development companies in the United States. Savion develops renewable energy projects, from conception through construction.
The sale of Brazoria West to S&B was led by Becky Diffen (Austin) and is expected to close later this spring. The Norton Rose Fulbright team, led by Ben Koenigsberg (New York), was also advising on debt and tax equity financing, which will be executed at the financial closing. Other members of the team included Megan Savage, Geetika Jerath (Houston), David Burton, Richard Susalka, Benjamin Grayson (New York), Caileen Kateri Gamache (Washington, DC and Houston) and Bob Greenslade (Denver).
Involved fees earner: Caileen Kateri Gamache – Chadbourne; David Burton – Norton Rose Fulbright; Becky Diffen – Norton Rose Fulbright; Benjamin Grayson – Norton Rose Fulbright; Bob Greenslade – Norton Rose Fulbright; Geetika Jerath – Norton Rose Fulbright; Benjamin Koenigsberg – Norton Rose Fulbright; Megan Savage – Norton Rose Fulbright; Richard Susalka – Norton Rose Fulbright;
Clients: Savion, LLC;