Baker McKenzie advises Manulife on clean energy investment
Manulife Investment Management to invest $300 million in Clean Energy Investment for Substantial Solar Portfolios
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Baker McKenzie advises Manulife on clean energy investment Manulife Investment Management to invest $300 million in Clean Energy Investment for Substantial Solar Portfolios Baker McKenzie has advised Manulife Investment Management on a $300 million corporate investment in CleanCapital. The idea is to help Manulife expand its portfolio of clean energy assets. Manulife...
Baker McKenzie advises Manulife on clean energy investment
Manulife Investment Management to invest $300 million in Clean Energy Investment for Substantial Solar Portfolios
Baker McKenzie has advised Manulife Investment Management on a $300 million corporate investment in CleanCapital. The idea is to help Manulife expand its portfolio of clean energy assets.
Manulife Investment Management's commitment was sourced for the John Hancock Life Insurance Company (USA) balance sheet as well as the third-party managed accounts (collectively "Manulife").
The Baker McKenzie cross-border project team included James P. O'Brien, Stan Sirot, Faye Williams, Maher Haddad, Rod Hunter, Andrew J Boling, Christopher G Guldberg, Brian F Burke, Elaine Wilkins, Shirley Chen, Jessica M Wicha, Matthew Martin, Sarah Swain, Anne Kelts Assayag and Dorna Zaboli.
CleanCapital, a leading clean energy investment platform, will use Manulife's $300 million investment to accelerate the energy transition. This includes acquiring operating solar, new build solar, and energy storage projects. It starts with two portfolios totalling 63 megawatts.
The first is a 16 MW operating portfolio comprising 30 solar assets in 10 states across the Northeast and Midwest. The second is a 46.9 MW operating solar portfolio consisting of 60 projects and 26 distinct off-takers under long-term power purchase agreements in California, Massachusetts and New Jersey.
This notably is one of the largest independent C&I solar portfolios in the United States.
Baker McKenzie's Global Projects Practice has extensive projects and natural resources experience. With more than 75 offices across 45+ countries in the Americas, Europe, Middle East, Africa and Asia.