June 25, 2020
Boston-based law firm Sherin and Lodgen LLP and the firm’s Renewable Energy Group has represented PeoplesBank in providing financing for the development of three ground-mounted solar facilities totaling 19 megawatts in New York State.
The borrower, Lodestar Energy, recently secured approval under the New York State Energy Research & Development Authority solar program for the facilities. All three facilities are expected to be operational in 2020. The three-loan portfolio included construction and term debt, a loan to bridge NY-Sun state incentives administered through NYSERDA, and a loan to bridge a future tax equity investment.
Beth Goldstein, chair of the renewable energy group led the team at Sherin & Lodgen which also included Jack Anetakis and Tanya Larrabee. The national Renewable Energy Practice Group at the firm represents lenders, developers and companies dedicated to sustainability through solar, wind and energy storage initiatives.
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