Pierce Atwood Assists in Acquisition and Financing of Dartmouth College Solar Projects
Big Green Solar, LLC acquired eight solar PV rooftop arrays under development on the campus of Dartmouth College in Hanover, New Hampshire. The projects were acquired from project developer ReVision Energy, Inc., have a capacity of 473 KW and will supply clean solar energy to Dartmouth’s campus for 20 years. A loan for the acquisition was provided by Coastal Enterprises, Inc., a Maine-based community development bank.
Big Green Solar is owned by William Hoyt, a graduate of both Dartmouth College and the Tuck School of Business. Said Hoyt, “I am very pleased with the solar asset acquisition and my ability to do something important and sustainable for my alma mater, Dartmouth College.”
Pierce Atwood attorneys advised on all aspects of the transaction, including negotiation of the acquisition, construction, operations and maintenance, debt finance, and power sales agreement. The firm also served as corporate and tax counsel to Big Green Solar.
Merrill Kramer, project finance partner in Pierce Atwood’s D.C. office, led the transaction with support from Kris Eimicke, a tax partner in the firm’s Portland, Maine office, and Krystal Williams, an energy associate also based in Portland.