Verdant Microgrid, LLC Finalizes $150 Million Financing Platform with ClearGen and Blackstone
Vinson & Elkins represented Blackstone Credit in the formation of a $150 million exclusive financing agreement for the development of microgrid projects between its portfolio company, ClearGen, LLC, and Verdant Microgrid, LLC, a leading clean energy development company.
The V&E corporate team was led by partners Matt Falcone and Alan Alexander, with assistance from partner Michael Joyce, senior associate Yong Eoh and associates Caroline McDonald and Richard McNulty. Also advising were partners Todd Way and Sean Moran and counsel Debra Duncan and Mary Alexander.
Announced in May 2021, V&E also advised Blackstone Credit in connection with a strategic partnership between GreenStruxure, a joint venture of Schneider Electric and Huck Capital, and ClearGen. Through this partnership, GreenStruxure will develop and operate highly standardized on-site renewable energy microgrid systems.
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