Baker McKenzie advised Manulife Investment Management on a USD 300 million corporate investment in CleanCapital to grow its portfolio of clean energy assets. Manulife Investment Management's commitment was sourced for the John Hancock Life Insurance Company (U.S.A.) balance sheet as well as third party managed accounts (collectively “Manulife”).
CleanCapital, a leading clean energy investment platform, will use the investment from Manulife to accelerate the energy transition—including acquiring operating solar, new build solar, and energy storage projects—beginning with two portfolios totalling 63 megawatts.
The first is a 16 MW operating portfolio comprising 30 solar assets in 10 states across the Northeast and Midwest. The second is a 46.9 MW operating solar portfolio consisting of 60 projects and 26 distinct off-takers under long-term power purchase agreements in California, Massachusetts and New Jersey. This is one of the largest independent C&I solar portfolios in the United States.
The Baker McKenzie cross-border project team included James P. O'Brien, Stan Sirot, Faye Williams, Maher Haddad, Rod Hunter, Andrew J Boling, Christopher G Guldberg, Brian F Burke, Elaine Wilkins, Shirley Chen, Jessica M Wicha, Matthew Martin, Sarah Swain, Anne Kelts Assayag and Dorna Zaboli.
Baker McKenzie's Global Projects Practice has extensive projects and natural resources experience. With more than 75 offices across 45+ countries in the Americas, Europe, Middle East, Africa and Asia, we have over 200 projects lawyers in our clients' most important locations, including key financial centers and market-leading teams in emerging jurisdictions.
For more information on this transaction, please see CleanCaptial's press release.