Foley Hoag Represents Soltage-Greenwood in $70M Equity Financing

July 24, 2014

Foley Hoag recently advised a joint venture between North American solar power provider Soltage, LLC and Greenwood Energy. The $70 million financing, led by John Hancock Life Insurance Company (U.S.A.), will support the construction and operation of seven solar photovoltaic (PV) power stations in Massachusetts and North Carolina, with an expected total capacity of 32 megawatts. This portfolio financing follows on an earlier successful financing led by John Hancock that Soltage Greenwood announced earlier this year.

Soltage is a national leader in the development, financing and operation of solar power stations for commercial, industrial and municipal clients. Greenwood Energy is the North and Latin American clean energy division of the Libra Group, a privately owned international business group comprising 30 subsidiaries operating across five continents.

Foley Hoag partners Mark BarnettNicola Lemay and Earl Mellott and associates Sara Mattern, Seth Kipp and Adam Wade advised Soltage-Greenwood in the transaction.

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