Sherin and Lodgen Represents Cambridge Savings Bank in the Financing of Three Solar Facilities in Massachusetts

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Bethany A. Bartlett

BOSTON – Boston law firm Sherin and Lodgen LLP announced that its Renewable Energy Practice Group represented Cambridge Savings Bank in a portfolio construction bridge and term loan to Kearsarge Energy, a leading renewable energy project developer, for the construction of three ground-mounted solar facilities in Massachusetts totaling 8.8 MW.

The transaction included syndicate partners Eastern Bank and Middlesex Savings Bank, and includes both Solar Massachusetts Renewable Target (SMART) program projects and net-metered projects with public off-takers.

The portfolio features a solar facility in Amesbury that has been combined with a 1.6 MW battery energy storage system to provide leading-edge renewable power storage and distribution. The installation is one of the first solar-plus-storage systems deployed under the SMART program.

The Sherin and Lodgen team was led by Bethany A. Bartlett, chair of the Group, and included Of Counsel Colleen V. Collins, and associate Tyler N. Ballew.

Bethany A. Bartlett is chair of Sherin and Lodgen’s Renewable Energy Practice Group and a partner in her firm’s Real Estate Department. Bethany has a specialty concentration in representing lenders in complex financing transactions, particularly portfolio debt financing for commercial solar development which includes Investment Tax Credit investors and various state incentive programs.

Sherin and Lodgen’s national Renewable Energy Practice Group represents lenders, developers, and companies committed to sustainability through solar, wind, and energy storage initiatives. Clients rely on their experience in financing, development, leasing, environmental, zoning, and permitting to navigate this ever-changing market and accomplish their business goals. The group has particular experience assisting lenders in navigating the Solar Massachusetts Renewable Target (SMART) program.