Deal Note: Crowell & Moring Client NRG Yield, Inc. Acquires Full Ownership of Solar Generating Facility from NRG Energy, Inc.
Washington, D.C., September 9, 2016: Crowell & Moring LLP represented NRG Yield, Inc. in the acquisition of the remaining 51.05 percent interest in the California Valley Solar Ranch project from NRG Energy for $78.5 million in cash plus assumed project debt of $496 million. The 250 MW facility sells its output to Pacific Gas and Electric Company under long-term contracts. The transaction closed on Sept. 1.
Crowell & Moring served as lead legal counsel to NRG Yield in this transaction, and the team included partner Patrick W. Lynch, counsel Nicholas James, partner Scott J. Moore, senior counsel Deborah A. Carpentier, counsel Cameron Prell, counsel Diana A. Jeschke, associate Lorin Dale-Pierce and associate Tyler A. O’Connor.
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