The Carlyle Group to Partner with Alchemy Renewable Energy
Vinson & Elkins advised the Renewable and Sustainable Energy Fund of The Carlyle Group (RSEF) in the formation of a joint venture with Alchemy Renewable Energy, LLC (ARE), a renewable energy developer and tax equity arranger, together with the purchase of certain operating and development-stage solar projects from ARE. Total consideration was approximately $150 million, with a portion of the consideration being paid at closing and the remainder paid as certain development milestones are achieved. ARE will develop the projects that have not yet reached completion and provide asset management services.
This is the second transaction that V&E has worked with RSEF on in the past month.
The V&E team was led by Robert Hughes, Peter Marshall and Kaam Sahely, with assistance from counsel Luke Edney, and associates Anastasia Arsenio, Kathryn Hastings, Yianni Georgeton, Charlie Fitzpatrick and Richard McNulty. Also advising were counsel Debbie Duncan and senior associate Mary Alexander; partners John Decker and Mike Tomsu; and partner Matt Dobbins.
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