July 2020
Renewable Energy
News & Updates
Client Success
Sherin and Lodgen represents PeoplesBank in financing of three solar facilities to Lodestar Energy
Sherin and Lodgen’s  Renewable Energy Group   represented lender PeoplesBank in financing for the construction of three ground-mounted solar facilities totaling 19 MW (DC) in Tioga and Nichols, NY to an affiliate of Lodestar Energy . The projects are approved under the NY State Energy Research & Development Authority (NYSERDA) solar program and are scheduled to be operational in 2020. The three loan portfolio included construction and term debt, a loan to bridge NY-Sun state incentives administered through NYSERDA, and a loan to bridge a future tax equity investment.

The Sherin and Lodgen team included  Beth A. Goldstein , Chair of the Renewable Energy Group,  Jack Anetakis , partner in the Renewable Energy Group, and  Tanya M. Larrabee , associate.
Sherin and Lodgen represents Agilitas Energy, LLC in construction and term loan for Massachusetts solar project
Sherin and Lodgen’s Renewable Energy Group represented Agilitas Energy , and its affiliate, in a construction and term loan for a utility scale solar facility coupled with battery energy storage in Auburn, Massachusetts, from lender, 1st Source Bank . The project includes eligible Investment Tax Credits and will combine solar and battery storage and receive incentive payments through the Massachusetts SMART program.

The Sherin and Lodgen team was led by  Beth A. Goldstein , chair of the Renewable Energy Group, and included   Tyler N. Ballew . Sherin and Lodgen represented Agilitas in the initial purchase of the project from a previous solar developer.
Thought Leadership
The United States Treasury Department formally extended the eligibility deadlines for Production Tax Credits (PTC) and Investment Tax Credits (ITC) in connection with renewable energy facilities. The extensions are a welcomed relief for solar, wind, and other renewable energy projects navigating the uncertainties of the COVID-19 pandemic. 

Solar Massachusetts Renewable Target (SMART) Emergency Regulations Update

On April 15, 2020, the Massachusetts Department of Energy Resources released its long-awaited updates to the state’s   Solar Massachusetts Renewable Target (SMART)  program. Through an  emergency regulatory process , the DOER conducted a mandatory regulatory review triggered by the first 400MW of capacity subscribed to the program. The DOER sought stakeholder input regarding several components of the program including size, land use provisions, and compensation structure and adders. The SMART Application Portal began accepting new applications on May 18, 2020.

How Northeast State Solar Programs are Reacting to COVID-19
By Tanya M. Larrabee and Amy L Hahn
Published in Solar Power World
COVID-19 is impacting industries across the globe and clean energy is no exception. As the pandemic continues to influence economic relief efforts at both the state and federal level, states are beginning to offer specific forms of relief through their incentive programs. Additionally, electric distribution companies in each state have declared  COVID-19 a force majeure event , allowing extensions to interconnection milestones and in some cases payment schedules. Below are summaries of the specific relief efforts being offered by some states, and more details regarding electric distribution companies’ declaration of a force majeure event.

Five Key Considerations of Industrial Solar Leasing
By Jennifer L. Ioli and Aaron Olson, Black Bear Energy
Published in Solar Builder Magazine
Industrial property owners are increasingly turning to rooftop solar facilities to add value to their portfolios and maximize their assets, as well as to increase renewable energy sources for the greater good. While the general principles of commercial leasing apply to rooftop solar leases, there are a few issues that are unique.

Sherin and Lodgen News
Beth A. Goldstein Appointed Chair of the Firm’s Renewable Energy Practice Group

Sherin and Lodgen LLP announces that partner Beth A. Goldstein has been appointed chair of the firm’s Renewable Energy Practice Group, effective June 1, 2020.

Sherin and Lodgen’s Managing Partner Douglas M. He nry said, "The Renewable Energy Group has become one of the fastest growing practice areas at our firm and is highly regarded for handling a wide range of sophisticated financing, development and leasing transactions for solar and energy storage facilities. With Beth’s exceptional knowledge and experience in the renewable energy and real estate markets, we look forward to continued growth under her leadership.”
Sherin and Lodgen Renewable Energy
Sherin and Lodgen’s national renewable energy practice group represents lenders, developers, municipalities, and companies committed to sustainability through solar, wind, hydro, and energy storage initiatives. Clients rely on our experience in financing, development, leasing, environmental, zoning, and permitting to navigate this ever-changing market and accomplish their business goals.