Congratulations to our client, BentallGreenOak, on plans to install their first community-use solar project

Sherin and Lodgen congratulates our client, BentallGreenOak (BGO), on announcing plans to develop two rooftop solar power projects, totaling 2.7 MW, in Maryland – their first community solar project. The systems are expected to produce 3.5 million kWh of renewable electricity cumulatively to local residents and businesses through Maryland’s community solar program – Enough to power about 300 homes for one year.

The project will be financed by Summit Ridge Energy (SRE) and facilitated by Black Bear Energy. Once operational, both rooftop systems – to be hosted on two of BGO’s industrial sites – will be owned and operated by SRE.

The S&L team, led by the firm’s Managing Partner, Douglas M. Henry and partner, Jennifer L. Ioli, represented BGO in the drafting and negotiating phases of the solar leases with SRE.

Read more on the project from BGO here.

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.

BentallGreenOak is a leading, global real estate investment management advisor and a globally recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $69 billion USD of assets under management (as of June 30, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.

Summit Ridge Energy is the country’s leading owner-operator of community solar assets. Through dedicated funding platforms, the team acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors.

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.