Latham & Watkins Advises Scale Microgrids on US$275 Million Project Financing

Scale Microgrids, a vertically integrated distributed energy company, has closed US$275 million in new project financing, bringing their total financing raised to date to over US$1 billion. KeyBanc Capital Markets, Cadence Bank, and New York Green Bank led this milestone transaction, with additional participating lenders including Investec, Mitsubishi HC Capital America, and Connecticut Green Bank.

This financing will support 140 megawatts of distributed generation projects, including microgrids, community-scale solar and storage, and battery storage installations. These projects, many of which are already under construction, are spread across states including New York, Pennsylvania, New Jersey, Connecticut, and California.

Latham & Watkins LLP advised Scale Microgrids in the transaction, with a project finance team led by New York partner Kelly Cataldo, with associates Dominika Kovacicova and Sam Berry. Advice was also provided on tax matters by New York partner Eric Kamerman, with associate Jared Kawalsky; on hedging matters by New York partner Yvette Valdez, with associates Naffie Lamin and Mia Stefanou; on regulatory matters by Washington, D.C. partner Tyler Brown and counsel Jamie Blackburn; on environmental matters by Los Angeles/Houston partner Joshua Marnitz; and on real estate matters by New York partner Lisa Brabant.