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Latham & Watkins Advises Advantage Capital in Formation of Renewable Energy Development Joint Venture

September 14, 2023
Firm advises the US-based impact investment firm in the transaction.

Advantage Capital — a US-based impact investment firm — and Sumitomo Corporation, through Sumitomo Corporation of Americas, have announced that they have established Perennial Renewables LLC, a joint venture that will develop renewable energy projects with a focus on solar power generation. Perennial Renewables will first focus on completing Advantage Capital's current 2 GW solar portfolio across the Midwest and Northeastern US.

Latham & Watkins LLP represents Advantage Capital in the transaction with a deal team led by Washington, D.C. partners Ethan Schultz and Paul Hunt, with associates Cierra Warren, Josh Blankenship, and Matt Piggins. Advice was also provided on tax matters by New York partner Greg Hannibal, with associate Arash Lotfi; on benefits and compensation matters by Houston counsel Krisa Benskin, with associate Christina Schrantz; on real estate matters by San Diego partner Robert Frances and counsel Aaron Friberg; and on environmental matters by Los Angeles partner Joshua Marnitz, with associate Jacqueline Zhang.