Kirkland & Ellis advised a subsidiary of Altus Power, Inc. in connection with the negotiation and closing of a $200 million credit facility from Blackstone. The facility is designed for the construction of commercial solar assets and includes capacity to fund costs including equipment, labor, interconnection as well as development fees. It’s a first-of-its-kind facility that leverages the strong appetite of insurance capital in providing long-term financing of solar assets. The transaction closed on Nov. 10, 2023, and was announced on Nov. 13, 2023.
The Kirkland team was led by debt finance partner Roald Nashi and associates Charles Martin, Miriam Domer and Dan Dyring.