Boston law firm Sherin and Lodgen LLP announces that its Renewable Energy Group represented STAG Industrial, Inc. in connection with rooftop solar leasing for two solar installations – its first in Illinois and fifth in Massachusetts. The projects are part of community solar programs and will provide low-cost renewable energy to local homes and businesses. With the addition of these sites, STAG now hosts over 13.5 MW of solar nationally.
Facilitated by Black Bear Energy in partnership with STAG and developed by Green Street Power Partners (“GSPP”), these systems have an aggregate capacity of 3.5 MW and will generate over 4.4 million kWh of electricity annually, which is the equivalent of powering nearly 361 homes with solar. Construction on both projects began in July 2020.
The Sherin and Lodgen team, led by managing partner Douglas M. Henry and partner Jennifer L. Ioli, continues to represent STAG in the rollout of a nationwide solar rooftop program.
Henry represents real estate developers, public and private companies, independent power producers, lending institutions, and other corporate and individual clients regarding the acquisition, permitting, financing, leasing, operation, management, and disposition of real estate facilities. His practice includes the representation of clients in connection with complex downtown and suburban development, affordable housing and community development, hotel and hospitality, office, industrial, and retail projects. Ioli is a commercial real estate and environmental attorney with experience in acquisitions, development, leasing, and financing.
The national Renewable Energy Practice Group at Sherin and Lodgen represents lenders, developers, municipalities, and companies committed to sustainability through solar, wind, hydro, and energy storage initiatives. Clients rely on our experience in financing, development, acquisition, leasing, environmental, and permitting to navigate this ever-changing market and accomplish their business goals. The group has particular experience assisting lenders in navigating the SMART program.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. As of September 30, 2020, the Company’s portfolio consists of 462 buildings in 38 states with approximately 92.3 million rentable square feet.
About Green Street Power Partners
Green Street Power Partners (GSPP), headquartered in Stamford, CT, is a national developer, financier, owner, and operator of solar energy systems benefiting businesses and communities across the country. GSPP specializes in structured finance for solar assets, securing sponsor and tax equity alongside project-level debt financing to realize the highest value for its clients.
About Black Bear Energy
Black Bear Energy is a technology-enabled, commercial buyer’s representative specializing in onsite renewable energy and cleantech services. In the past five years, Black Bear has helped its clients bid out over 1,000 clean technology projects in more than 20 states through its data-driven process.
About Sherin and Lodgen LLP
Sherin and Lodgen is a mid-sized Boston law firm specializing in real estate, litigation, business law, and employment. With over 40 attorneys, the firm handles complex matters, while providing responsive, senior-level attention to every matter. Known for its effective, efficient, and focused representation, Sherin and Lodgen delivers sophisticated analysis and a high touch service by developing an in-depth understanding of clients’ business goals, issues, concerns, and emerging industry trends.