Boston law firm Sherin and Lodgen LLP announces that its Renewable Energy Practice Group represented Cambridge Savings Bank in a portfolio construction bridge and term loan to Kearsarge Energy, a leading renewable energy project developer, for the construction of three ground-mounted solar facilities in Massachusetts totaling 8.8 MW. The transaction included syndicate partners Eastern Bank and Middlesex Savings Bank, and includes both Solar Massachusetts Renewable Target (SMART) program projects and net-metered projects with public off-takers.
The portfolio features a solar facility in Amesbury that has been combined with a 1.6 MW battery energy storage system to provide leading-edge renewable power storage and distribution. The installation is one of the first solar-plus-storage systems deployed under the SMART program.
The Sherin and Lodgen team was led by Bethany A. Bartlett, chair of the Group, and included Of Counsel Colleen V. Collins, and associate Tyler N. Ballew.
Bethany A. Bartlett is chair of Sherin and Lodgen's Renewable Energy Practice Group and a partner in her firm's Real Estate Department. Bethany has a specialty concentration in representing lenders in complex financing transactions, particularly portfolio debt financing for commercial solar development which includes Investment Tax Credit investors and various state incentive programs.
Sherin and Lodgen’s national Renewable Energy Practice Group represents lenders, developers, and companies committed to sustainability through solar, wind, and energy storage initiatives. Clients rely on their experience in financing, development, leasing, environmental, zoning, and permitting to navigate this ever-changing market and accomplish their business goals. The group has particular experience assisting lenders in navigating the Solar Massachusetts Renewable Target (SMART) program.
About Cambridge Savings Bank
Cambridge Savings Bank, headquartered in Harvard Square, is a full-service financial institution with approximately $4 billion in assets that is committed to improving the quality of life in the communities it serves. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Newton, and Watertown.
About Kearsarge Energy
Kearsarge Energy, a leading renewable energy project developer, owner, operator and asset management company, was formed in 2009 by a group of energy professionals with the belief that Kearsarge could create long-term economic and environmental value by working closely with local communities while leveraging its experience and access to project finance. Focused on meeting the growing demand for reliable and cost-effective commercial- and utility-scale renewable energy projects, Kearsarge completed close to 100megawatts and $3000 million of solar projects in recent years. Relying on its excellent relationships with municipalities and private entities, Kearsarge has established itself as one of the leading Solar Energy Development firms in the Northeast.
About Sherin and Lodgen LLP
Sherin and Lodgen is a mid-sized Boston law firm specializing in real estate, litigation, business law, and employment. With over 40 attorneys, the firm handles complex matters, while providing responsive, senior-level attention to every matter. Known for its effective, efficient and focused representation, Sherin and Lodgen delivers sophisticated analysis and a high touch service by developing an in-depth understanding of clients' business goals, issues, concerns and emerging industry trends.
