SmartPitch’s Acquisition of a Controlling interest in New Energy Equity

Rubicon Capital Advisors represented NEE as a financial advisor and K&L Gates LLP represented NEE as legal counsel. SmartPitch Ventures was advised by Akin Gump Strauss Hauer & Feld LLP and Seale & Associates.

SmartPitch Ventures executed the acquisition of a majority stake in leading solar developer New Energy Equity (“NEE”)

Under the terms of the agreement, SmartPitch assumed a controlling interest in NEE.

The investment will accelerate NEE’s growth for the coming years and entrench their position as one of the key developers focused on distributed generation and community solar in the United States.

Founded in 2013 and headquartered in Annapolis, Maryland, NEE develops and oversees solar power generation assets, providing clean electricity to commercial, industrial, municipal and utility customers under long-term contracts. NEE successfully installed 60 MW of new solar capacity in 2018, part of an overall development portfolio of over 200MW since 2013.

Akin Gump advised SmartPitch Ventures with global project finance partner Matthew Nesburn (Picture) with assistance from associate Yamilet Echeverria. They were joined by Daniel Sinaiko and John Marciano, co-heads of the global project finance practice, and fellow global project finance partner Andrea Lucan as well as by labor and employment senior counsel Michael Gerald, tax counsel Brandon Morris and global project finance associate Paul Park. Also playing a key role were investment management partner Blayne Grady and associate Amanda Butler-Jones, both of whom advised SmartPitch in forming the fund that made the acquisition.

Involved fees earner: Amanda Amelia Butler-Jones – Akin Gump; Yamilet Echeverria – Akin Gump; Michael Gerald – Akin Gump; Blayne Grady – Akin Gump; John Marciano – Akin Gump; Brandon Morris – Akin Gump; Matthew Nesburn – Akin Gump; Paul Park – Akin Gump; Daniel Phillip Sinaiko – Akin Gump; Andrea Wang Lucan – Akin Gump;

Law Firms: Akin Gump;

Clients: SmartPitch Ventures;

Author: Ambrogio Visconti