Clean Energy Counsel (CEC) represented energyRe as sponsor’s counsel in an $815 million syndicated financing package for five utility-scale solar projects across South Carolina. The five projects total approximately 360 megawatts of new generating capacity, making this transaction one of the largest solar-only project financing deals in the state’s history and energyRe’s largest portfolio financing to date.
The financing was supported by Bank of America, Canadian Imperial Bank of Commerce, and Santander, and advances energyRe’s goal of investing $2 billion in South Carolina by 2030. The projects are expected to create jobs during construction and operations, generate millions of dollars in revenue for local governments, and deliver affordable, reliable power to South Carolina homes and businesses.
Walter Alarkon, Jordan Dansby, Zach Crowley, and Janny Gandhi led the representation, with support from Garrett Brann, Brad DeJean, Brett Martino, Sally Huang, and Brandon King.
The transaction highlights CEC’s experience advising renewable energy sponsors on complex portfolio financings and supporting clients from project development through financing and operations.