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South Jersey Industries Announces Final Closing of Solar Portfolio Sale

Vinson & Elkins advised Goldman Sachs’ renewable energy fund on the final closing in its $350 million acquisition from Marina Energy, a subsidiary of South Jersey Industries, of its solar portfolio. The portfolio of projects involved in this transaction comprised of 143 operating solar facilities across four states representing approximately 204 megawatts of capacity.

The portfolio of projects involved in this transaction comprised of 143 operating solar facilities across four states representing approximately 204 megawatts of capacity. The transaction signed on June 27, 2018 and has closed in seven tranches occurring on October 12, 2018, October 31, 2018, November 30, 2018, December 27, 2018, February 28, 2019, May 24, 2019, with the most recent tranche being the final closing on March 3, 2020.

The V&E corporate team for the most recent and final closing was led by partners Peter Marshall, Kaam Sahely and Marisa Secco with assistance from counsel Luke Edney and associate Richard McNulty.

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