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Latham & Watkins Advises 8minute Solar Energy in Upsizing of Credit Facility to US$350 Million

December 22, 2020
A multidisciplinary team advises the solar energy company in the transaction.

8minute Solar Energy (8minute) has announced that after securing a US$225 million letter of credit and revolving credit facility earlier this year, it has significantly upsized that facility to a total of US$350 million with support from new lenders. The additional US$125 million in commitments comes from the existing lenders who are joined by Deutsche Bank, Landesbank Hessen-Thüringen (Helaba), and Norddeutsche Landesbank (NORD/LB). The expanded facility will help 8minute accelerate the development of its growing pipeline, which includes more than 18-gigawatts (GW) of solar capacity and 24-gigawatt-hours (GWh) of storage throughout California, Texas, and the Southwestern United States. 

Latham & Watkins LLP represented 8minute Solar Energy in the transaction with a project finance team led by Washington, D.C. partner Paul Hunt, with San Diego associate Neelam Mohammed. Advice was also provided by Washington, D.C. partner Tyler Brown on energy regulatory matters, and New York partner Larry Safran, San Diego partner Omar Nazif, and Washington, D.C. counsel Chris Dolan on finance matters.