South Jersey Industries Announces Sale of Solar Portfolio
Vinson & Elkins advised Goldman Sachs’ renewable energy fund on its approximately $350 million acquisition from Marina Energy, a subsidiary of South Jersey Industries, of its solar portfolio.
The portfolio of projects involved in this transaction is comprised of 76 distributed solar energy projects with total capacity of 204 MW. The projects, located at 143 sites across New Jersey, Maryland, Massachusetts and Vermont, provide power to schools, hospitals and commercial and industrial facilities.
The V&E corporate team was led by partners Kaam Sahely and Peter Marshall with assistance from senior associates Luke Edney and Simone King and associates Claire Smyser Campbell, Bassam Chain, Cesar Leyva, Caroline Kuehn, Mike LeFevre, Michael Zarcaro, Jeremy Tripp, Ben Glass, Jack Moxon, Josh Rocha, Edward Vaunder, Caroline McDonald and Jackson Gayle. Also advising were counsel Debra Duncan and senior associate Mary Alexander; partners Neil Imus and Darren Tucker and associate Ryan Will; partner Randy Jurgensmeyer and associate Victoria Short; and partner William Vigdor.
Recently, V&E represented Global Atlantic Financial Group in connection with the $1.175 billion acquisition from Southern Power of a 33% minority interest in its solar portfolio. V&E regularly represents Goldman Sachs’ renewable energy fund on its acquisition activities.
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