Sheppard Mullin Advised Atlantica Sustainable Infrastructure Limited on Development and Financing for Project Imperial Sun, a $330 Million Solar/BESS Project in Imperial County
Sheppard Mullin advised Atlantica Sustainable Infrastructure Limited on the development and financing of a $330 million credit facility. The financing will support the development and construction of Project Imperial Sun, a hybrid project located in Imperial County, California that consists of a 100-megawatt photovoltaic solar energy generation project and a 100 MW / 400 MWh battery energy storage project. The credit facility includes a Construction to Term Loan, a Tax Equity Bridge Loan and multiple Letter of Credit capabilities and structuring for downstream tax equity to service the needs of the project from construction through initial operation.
Partners Adam Barton and Michael O’Brien and associates Bret Strzelczyk and Nicholas Dugdale led the financing aspects of the transaction. Partners Tony Toranto, Michael Roth and Jeffrey Forrest and associates Michelle Ganotis led real estate and permitting matters. Tax matters were led by partners Katherine Gillespie and Julie Marion and special counsel Megan LaTronica. Partner Tony Girolami led advice on engineering, procurement and construction contracting matters. Regulatory assistance was provided by partner Lisa Cottle for California state energy matters and partner Bruce Grabow for Federal Energy Regulatory Commission (FERC) matters.