Troutman Sanders Counsels Spruce Finance in $124 Million Residential Solar Finance Package
ORANGE COUNTY – On May 4, 2020, Troutman Sanders’ client Spruce Finance closed a $124 million debt financing deal for its portfolio of residential solar power purchase agreements and leases with Vantage Infrastructure and Sequoia Economic Infrastructure Income Fund. Based in Houston, Spruce Finance is the largest private owner and operator of distributed generation solar and residential energy assets in the United States. Capital Projects and Infrastructure (CP&I) attorneys John Leonti, Christine Byrnes, Michael Karpen, Sophia Kwon and Frank Montes de Oca advised on the transaction.
Troutman Sanders’ Renewable Energy practice is at the forefront of the rapidly evolving renewable energy industry especially with regard to renewable energy financing for investors, lenders and sponsors. Attorneys specialize in tax equity and debt structuring and adeptly advise clients in connection with all types of debt and equity financings for energy industry participants, including early stage capital, construction and term lending, rate, currency, environmental attribute and power hedging and other financing structures. The firm can bring to bear top transactional and regulatory practitioners in order to maximize the value of transactions in the heavily regulated energy space.
About Troutman Sanders*
With a diverse practice mix, workforce and footprint, Troutman Sanders has cultivated its reputation for a higher commitment to client care for over 120 years. Ideally positioned to help clients across sectors realize their business
goals, the firm’s 700 attorneys transact for growth, resolve mission-threatening disputes and navigate complex legal and regulatory challenges. See troutman.com for more information.
*On January 9, 2020, Troutman Sanders and Pepper Hamilton announced the firms had agreed to merge effective July 1, 2020. The new law firm, Troutman Pepper Hamilton Sanders LLP, or “Troutman Pepper,” will have 1,100 attorneys in 23 cities across the country. Troutman Pepper will offer its clients greater resources and bench strength, enhanced practices and expanded geographical reach.