Norton Rose Fulbright advises TerraForm Power on purchase of solar project

Global law firm Norton Rose Fulbright represented TerraForm Power, a subsidiary of Brookfield Renewable Partners L.P., in the purchase of Hexagon Energy's 1.56 GW Steward Creek Solar project in Lee County, Illinois. Upon completion, Steward Creek is expected to be among the largest solar projects in the United States.

The project will be developed in two phases, each anticipated to generate approximately 1.3 GWh of energy annually once operational. Phase 1 is scheduled to begin construction in 2027 and reach commercial operation in 2029. Phase 2 is expected to commence construction in 2028 and achieve commercial operation in 2030.

"We were pleased to support TerraForm Power on this significant acquisition," said Sameer Ghaznavi, who led Norton Rose Fulbright's deal team. "Steward Creek represents a major step forward in the advancement of large-scale renewableenergy in the US, and our team was proud to help TerraForm through the complexities of a transaction of this size and scope."

The acquisition further strengthens TerraForm's growing pipeline of pre-construction solar and battery storage projects, which now approaches 7 GW. Steward Creek also recently achieved a milestone with the execution of a 600-MW interconnection agreement among TerraForm, Commonwealth Edison and PJM Interconnection.

The Norton Rose Fulbright team was led by Sameer Ghaznavi (Chicago) and Allie Hemmings (Washington, DC) with additional support from Jared Kaplan, John Young and Svein Hoexter (Chicago), Alec Mitrovich and Birdie Adler (Austin), Meghan McGregor, Ori Noiman (Denver), Sameer Mulji, James Berger, Joseph Drapalski, Hubert Lee (Los Angeles), Paulette Gerhart (San Antonio), Hilary Lefko, Debra Palmer and Stefan Reisinger (Washington, DC).