Landmark Solar Generation Project Obtains Loan Guarantee

Skadden is representing Bank of America Merrill Lynch as part of a consortium that secured a conditional $1.4 billion commitment from the U.S. Department of Energy’s Loan Programs Office to help finance the largest distributed rooftop solar generation project in the world. The loan guarantee, which was announced on June 22, will facilitate a total project size of $2.6 billion. Once fully funded and completed, the project’s installations are expected to provide enough clean, renewable energy to power 100,000 homes.