Norton Rose Fulbright advises C2 in nine-figure sale of subsidiary to EDPR

United States Press release - Business January 20, 2021

Global law firm Norton Rose Fulbright recently advised C2 Energy Capital LLC on the sale of distributed solar platform C2 Omega LLC (C2) to EDP Renewables North America LLC (EDPR NA).

EDPR NA is owned by EDP Renováveis, S.A. (EDPR). EDPR, a global leader in the renewable energy sector and one of the world's largest wind energy producers, will rebrand C2 as EDPR NA DG, the exclusively distributed solar platform of EDPR NA in the US.

The transaction includes approximately 89 megawatts of operating and near completion capacity across multiple sites and customers. The deal also includes a dedicated development and origination team with a proven track record and a near-term pipeline of more than 120 megawatts.

David Burton (New York) led Norton Rose Fulbright's team as co-counsel to C2 Energy Capital with responsibility for tax, project finance, regulatory approval, employment and securities-related matters.

Other members of the team included Caileen Gamache, Stefan Reisinger, Vinicius Beraldo, Eddie Skolnick (Washington, DC), Steven Howard, Bill Cavanagh, Marjorie Glover, Christopher Vale, Natalia Pierotti, Leslie Teng, Marie Matousek (New York), Lacey Stevenson (Dallas) and Andy Woods (Los Angeles).

C2's principals, who will retain a minority interest in the platform, are long-time Norton Rose Fulbright clients. In 2019, a Burton-led team provided strategic tax advice to C2 in its deal with Walmart to provide the retail giant with solar power at more than 40 stores in five states. Burton has acted as lead outside counsel on project finance matters to C2 since the firm's formation in 2014.