Eversheds Sutherland is pleased to announce that it represented Spain-based solar developer X-ELIO in the acquisition from National Renewable Energy Corporation of Lily Solar, owner of a 103-MWdc solar project under development in South Carolina. Eversheds Sutherland also assisted X-ELIO with the negotiation of the engineering, procurement and construction contract and the operations and maintenance contract under which National Renewable Energy Corporation and its affiliate will provide EPC and O&M services for the project.
X-ELIO, a portfolio company of global investment firm KKR, specializes in the development, design, construction, maintenance and operation of photovoltaic solar plants worldwide. The acquisition of the Lily Solar project continues X-ELIO’s expansion in North America, with 140 MW of operating projects and more than 1 GW of projects under construction in the United States and Mexico. Once complete, the Lily Solar facility will be the largest in South Carolina and will provide electricity under a 20-year power purchase agreement with South Carolina Gas & Electric.
Eversheds Sutherland’s energy & infrastructure partner Dorothy Black Franzoni and associate Jackson M. Allen led the deal team with support from Eversheds Sutherland’s tax, real estate, intellectual property and construction teams.
Eversheds Sutherland’s global Energy & Infrastructure Practice Group includes more than 200 lawyers throughout Africa, the Americas, Asia, Europe and the Middle East who act for crude oil, natural gas, LNG, electric power, electric cooperative, renewable and alternative energy, oil pipeline and nuclear energy clients.
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