Global law firm Norton Rose Fulbright represented Community Energy Solar, LLC (Community Energy) in a company-wide sale, including a 10GW portfolio of development assets and talented development team, to AES Corporation (AES), a leading power company generating and distributing electric power in 15 countries.
Community Energy has been a pioneer in renewable energy generation for more than 20 years, successfully developing over 3GW of solar plus storage projects across the United States. The company has a large and diverse project pipeline in support of its mission to accelerate the transition to a 24/7 carbon-free grid.
AES is on track to deliver 4GW of renewables under signed Power Purchase Agreements (PPAs) in the US this year and the acquisition of Community Energy will further bolster the Company's expansion efforts with a strong pipeline and skilled development workforce.
After merging with Community Energy, AES' US renewables portfolio now includes 3.7GW of operating assets and 5.8GW of signed PPAs. Globally, AES has a total development pipeline of 47.4GW.
The deal team was led by Becky Diffen (Austin), Megan Savage (Houston), and Geetika Jerath (Houston) with assistance from Keith Martin (Washington, DC), Kat Gamache (Houston), Marjorie Glover (New York), Jared Kaplan (New York), Amy Mitchell (Austin), Shaileen Berlas (New York), Sol Kwon (Washington, DC), Shana Gilman (Washington, DC), Dylan Gera (Los Angeles), Emily Meier (Austin), Kevan Christensen (Washington, DC), Gabriela Larralde (Washington, DC) and Lauryn Robinson (Austin).
Norton Rose Fulbright is currently ranked as the leading global and US renewable energy legal advisor by volume for the full year 2021 having advised on more than 53 renewable energy transactions valued at more than US$18.5 billion in aggregate total. (IJ Global, dated December 20, 2021)