Vinson & Elkins advised MN8 Energy in its entry into a definitive agreement to acquire Greenbacker Renewable Energy Company LLC, an Independent Power Producer that owns a ~1.9 GW fleet of operating and under construction renewable energy assets, in a cash-and-equity transaction valued at up to approximately $375 million, with $350 million payable at closing, plus up to $25 million in potential additional cash payments contingent on the achievement of certain commercial milestones.
Upon closing, the combined company will rank among the three largest clean power platforms in the U.S., with over 6 GW of operating and under construction capacity across 33 states.
The Vinson & Elkins team was led by Partners Crosby Scofield, Todd Triller, Lina Dimachkieh, Jackson O’Maley, and Senior Associates Anthony Paladino and Tara Tegeleci.
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