2 minute read | April.12.2023
Orrick advised Green Street Power Partners (Green Street), a leading U.S.-based developer, financier, owner and operator of distributed generation solar projects, on the sale of a majority equity interest to DIF Capital Partners. DIF is an independent infrastructure fund manager with over €15 billion of assets under management and purchased the stake through its DIF Infrastructure VII fund. Green Street’s portfolio consists of 300+ MW of operational and under-construction solar projects, with a 2+ GW pipeline of solar projects in both existing and new markets that it will execute in the near-to-medium term.
The partnership will enable Green Street to sustain its rapid year-over-year growth and execute on its extensive pipeline across the United States. Green Street will utilize its vertical integration across development, legal, project financing, engineering and project and asset management to further accelerate its development pipeline. In 2023, Green Street’s projects nationwide are expected to produce over 275 million kWh of energy, removing more than 200 thousand tons of CO2.
The transaction will close in early Q2 2023, subject to customary conditions and approvals. The team was led by Kristin Seeger and David Gold and included Joanna Pak, Molly Jergenson, Jason Flaherty, Taylor Ball, Scott Cockerham, Heather Behrend, Jennifer Criss, Kristin Petersen, Paul Stancil, Sue Cowell, Zachary Huey, Mason Harry, Jeanine McGuinness, Cory Lankford and Michael Ruiz.