EDPR NA acquisition of C2 Omega LLC
Project description
C2 Energy Capital LLC was advised on the sale of its distributed solar platform C2 omega LLC to EDP Renewables North America LLC (EDPR NA). EDPR NA, 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 MW of operating and near completion capacity across multiple sites and customers. The deal also includes a dedicated development and origination team with a proven record of accomplishment and a near-term pipeline of more than 120 MW.
Scope of work
As co-counsel to C2 Energy Capital, we advised them from conception through to sale. We further advised on all tax, project finance, regulatory approval, employment and securities-related matters.
What makes the project unique
The US arm of the large European utility purchased 85 percent of a US-distributed generation solar company from the two founders who started the company in their late 20s with limited resources and managed to fund the business without any third-party sponsor equity.
Meet the Team
The project was led by teams in New York, Los Angeles and Washington, DC.