Press Release

Ballard Spahr Represents Green Development in Sale of Rhode Island Solar Assets

March 31, 2023

Ballard Spahr represented Green Development, LLC in the sale of a 26.2-megawatt portfolio of operating solar assets in Rhode Island.

The 10 projects have been acquired by Clean Capital, a renewables investor focused on the middle-market solar and storage industry. The projects power the city and schools of Central Falls, Rhode Island; Johnson & Wales University; and the local YMCA. One of the projects is located on the property of the Women’s Development Corporation/Housing Opportunities Corporation, a local affordable housing authority that develops, constructs, and manages housing for low- and moderate-income families, the elderly, and persons with special needs. The lease payments enabled the construction of the affordable housing facilities, which would not have been possible otherwise.

Business and Transactions Partner Raymond W. Faricy III led the Ballard Spahr team. It included Tax Of Counsel Christopher A. Jones, Litigation Of Counsel Charles E. Nelson, and Mergers and Acquisitions Associate Katie LaGrange.

For further information, please see Clean Capital’s press release.

For media inquiries, please contact Will Ashenmacher at 612.371.5792.

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