DLA Piper advises Invenergy in sale of a 195-megawatt solar facility to Indianapolis Power and Light Company
DLA Piper advised Invenergy, a privately held global developer and operator of sustainable energy solutions, in the sale of a 195-megawatt solar facility to Indianapolis Power and Light Company, an Indiana-based subsidiary of power distribution company AES Corporation.
Invenergy will develop the project, which is located in Clinton County, Indiana, and manage construction. The project is expected to be completed in 2023. Once operating, the solar facility will generate enough electricity to power more than 30,000 homes. The acquisition agreement is subject to approval from the Indiana Utility Regulatory Commission.
“It is always a pleasure working with the incredible lawyers and business people at Invenergy. We were excited to showcase our deep renewable energy M&A and construction law experience on this build-transfer project, which will create safe and affordable power and will provide numerous long-lasting economic benefits to the State of Indiana,” said Sameer Ghaznavi, who led the DLA Piper deal team.
In addition to Sameer Ghaznavi (Chicago), the DLA Piper team that advised Invenergy included partners Drew Young (New York), Andrew Young (Washington, DC) and Dino Barajas (Los Angeles); attorney Christine Korper (Chicago); and associates Robert Parisot, Kyle Stearns and Lizzie Abramson (all of Chicago).
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.