Lawyers from Vinson & Elkins represented Goldman Sachs’ renewable energy fund in its purchase of $350 million worth of solar energy assets from South Jersey Industries (SJI), which was advised by a team of attorneys from Akin Gump Strauss Hauer & Feld.
The transaction comprises 76 distributed solar energy projects located at 143 sites across New Jersey, Maryland, Massachusetts and Vermont that provide power to schools, hospitals and commercial facilities, according to SJI’s announcement.
The agreement calls for SJI to receive $63 million of the purchase price within the next week, with the balance due over the next several months as individual projects in the portfolio satisfy closing conditions. SJI said it expects nearly all projects in the portfolio will satisfy their closing conditions prior to Dec. 31.
The Vinson team of lawyers advising Goldman Sachs was led by partners Kaam Sahely and Peter Marshall, with assistance from senior associates Luke Edney and Simone King, and associates Claire Smyser Campbell, Bassam Chain, Cesar Leyva, Caroline Kuehn, Mike LeFevre, Michael Zarcaro, Jeremy Tripp, Ben Glass, Jack Moxon, Josh Rocha, Edward Vaunder, Caroline McDonald and Jackson Gayle. Also advising were counsel Debra Duncan, senior associate Mary Alexander, partners Neil Imus and Darren Tucker, associate Ryan Will, partner Randy Jurgensmeyer, associate Victoria Short and partner William Vigdor.
The Akin Gump team of lawyer advising SJI includes global project finance partner John Marciano and counsel Aaron Bartell; associate Yaw Temeng; corporate associate Nicole Scott; international trade partner Shiva Aminian; energy regulation, markets and enforcement partner Chip Cannon; senior counsel Porter Wiseman; antitrust partner Gorav Jindal; and senior practice attorney Stacy Kobrick.