Holland & Hart advised Copia Power (Copia), a Carlyle portfolio company, in its recently announced execution of a $1.24 billion debt facility to fund the construction of its Centennial Flats Project in La Paz County, AZ. The facility consists of a construction-to-term loan, a transfer bridge-to-tax equity bridge loan, and letters of credit. The firm served as real estate counsel on the financing of the transaction.
The Centennial Flats project consists of 500 MW of solar generating capacity and 1,069 MWh of battery energy storage capacity. The project is being constructed in three phases with expected completion dates throughout 2026. Copia acquired the project in 2022 and will remain the long-term owner and operator of the project.
For more information, please see Copia’s press release.
The Holland & Hart real estate team was led by renewable energy partner Adrienne Bell, with assistance from Eben Clark, Addison Fairchild, Dickie Chazotsang, Nate Runyan, Andy LeMieux, and Conor Willardson.
The firm’s Renewable Energy and Storage team has been at the vanguard of the renewable energy industry for decades and serves clients in the ever-changing, complex clean energy market. The team brings specialized experience in renewable energy and storage project finance and development to this dynamic market. We help clients capitalize on existing solar, wind, hydro, geothermal, and other renewable energy technologies in addition to battery storage technologies—as well as innovative new energy opportunities—as part of the global transition to a clean energy economy.