Latham & Watkins Advises Nexamp in Closing of US$340 Million Institutional Debt Facilities

Nexamp, a leading national developer and operator of distributed solar and energy storage systems, has successfully closed a US$340 million private placement debt refinancing with PGIM Private Capital (PPC), the private credit business of global asset manager PGIM. This transaction further solidifies Nexamp’s position as an innovator in the renewable energy sector and enhances its financial position while providing flexibility for continued growth. In total, this refinancing covers a portfolio of 39 solar farms in seven states, representing 150 megawatts of solar generation, and 37 megawatt-hours of storage.

Latham & Watkins LLP represented Nexamp in the transaction with a Project Development & Finance team led by New York partner Kelly Cataldo, with associates Claire Bang and Nick Eberhart. Advice was also provided on tax matters by Washington, D.C. partner Scott Cockerham; on energy regulatory matters by Washington, D.C. partner Tyler Brown and Washington, D.C. counsel Anna Biegelsen; on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Reilly Nelson; and on real estate matters by New York counsel Lisa Brabant.