DLA Piper represented Natixis, New York Branch in its roles as arranger, agent and issuing bank with respect to a US$50 million secured letter of credit facility for subsidiaries of Recurrent Energy, LLC, a wholly owned subsidiary of Canadian Solar Inc. The LC facility will support the development of Recurrent Energy’s utility-scale solar projects across the US and Canada. Recurrent Energy expects to use this LC facility primarily to support security obligations under power purchase agreements and interconnection agreements for development-stage projects. The facility size may be increased with participation from additional banking partners.
The DLA Piper team was led by US Chair of Renewable Energy, Timothy Moran (Washington, DC) and Philip Corsello (New York) and also included partner Andrea Chambers (Washington, DC); of counsel Chris Dolan (Washington, DC); and associates Bradford McCormick and Emily Sanders(both of New York), Skyler Anderson (San Diego), and Andrew Zollinger (Dallas).
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising.
