DLA Piper advises Solis LLC and Parasol Renewable Energy LLC in sale of Clēnera with an enterprise value of US$433 million

DLA Piper represented Solis LLC and Parasol Renewable Energy LLC in the sale of renewable energy company Clēnera to Enlight Renewable Energy LTD., a global renewables independent power producer (IPP) and developer. Enlight, through a wholly owned US subsidiary, will acquire approximately 90 percent of Clēnera’s shares.

Based in Boise, Idaho, Clēnera has successfully developed and constructed 1.6 GWdc of utility scale solar. Clēnera is now actively developing a portfolio of 12 GWdc solar and 5.5 GWh of energy storage in 20 states.

The DLA Piper team advising Solis and Parasol Renewable Energy was led by Drew Baldinger, vice chair of DLA Piper’s Mergers and Acquisitions practice and co-chair of the US Energy sector, and associate Emma Jiang (Houston) and included partners Frank Mugabi, Paolo Morante (both of New York), Danish Hamid (Washington, DC) and Glenn Reitman (Houston); attorney Ivan Komaritsky (New York); of counsels Michael Massiatte (Dallas) and Nia Brown (Washington, DC); and associates Jeffrey Bourdon, Tyler Davis (both of Houston) and Annette Moreno (Mexico City).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket.

DLA Piper's Energy sector lawyers advise regulators, the regulated, investors and other industry participants on the implications of the regulatory framework during the planning, development and operational stages of many energy projects and activities. For decades, the firm has represented organizations operating in the sector throughout the world, with a global team serving clients in the power, oil and gas, renewable, nuclear, energy trading, climate change and water markets. In addition to energy companies, the firm’s clients also include project sponsors, corporations, developers, financial institutions, governments, utilities and regulatory bodies.