Sheppard Mullin's Energy, Infrastructure and Project Finance industry team advised U.S. Bancorp (NYSE: USB) in $233 million of tax equity financing in two of Adapture Renewables, Inc.'s (Adapture) solar projects within its three-project Titanium portfolio.
The projects are located in Illinois and Arkansas and are expected to be commercially operational this year. Once operational, the Titanium portfolio is expected to generate enough electricity to power over 70,000 homes a year.
U.S. Bank's investment in Adapture's Titanium projects is a custom financing solution that helps its client build and supply needed energy generation across the country while expanding sources of renewable energy, strengthening the energy grid and driving local job creation.
The Sheppard Mullin team, led byBenjamin Huffman, includedSteve Peterson,Katy Shurin,Megan La Tronica,Josh Block,Alyssa Garcia,Avery Lajeunesse,Francesca Witcheron the core transaction team and also involved a number of other attorneys from the Firm's deep bench of energy project development, construction, finance and tax specialists.
Read more about Adapture's Titanium solar projectshere.