Spruce Finance’s Acquisition of Solar Assets from Atalaya Capital Management LP

Akin Gump Strauss Hauer & Feld LLP advised Spruce Finance in the acquisition.

Spruce Finance, the largest private owner and operator of residential solar assets in the United States, has completed its most significant solar portfolio acquisition to date. A team from Akin Gump advised Spruce Finance in the transaction.

Spruce purchased 5,864 rooftop solar assets totaling 31.3 megawatts (MW) from funds managed by Atalaya Capital Management LP. The acquisition, which closed December 23, 2019, expands Spruce’s solar portfolio to more than 180 MW. Financial terms were not disclosed.

The Akin Gump team was led by Dan Sinaiko (Picture) and included counsel Nertila Qenani and associate Nicole Scott.

Involved fees earner: Nertila Qenani – Akin Gump; Nicole Scott – Akin Gump; Daniel Phillip Sinaiko – Akin Gump;

Law Firms: Akin Gump;

Clients: Spruce Finance;

Author: Ambrogio Visconti