Milbank LLP advised Onward Energy, an independent power generator, in connection with the successful completion of its acquisition of 100% of the cash equity interests in a 1,171 MW operating solar portfolio from Global Atlantic Financial Group (“Global Atlantic”). The portfolio includes 11 projects in 8 states and is the largest renewable investment in Onward Energy’s history, further expanding the company’s portfolio to over 6 GW of diverse power generation assets.
Onward Energy is an independent power generator that currently owns and operates over 5 GW of solar, wind, and gas generation projects in the US. With 45 projects in 18 states, Onward Energy is a national leader in the clean energy transition, investing in the next generation of reliable, clean technologies that will enable customers and communities to meet their decarbonization goals faster.
The Milbank deal team was led by Global Corporate partners John Franchini and Aaron Stine and with associates Daniel Tyrrell, Christina Sonageri, Ashley Kemper and Christina Wing. The team also included Global Project, Energy and Infrastructure Finance partner Jeffrey Leider and associates Rhys Howard, Julia Zenker, Sama Rahman, and Marie Matousek, Environmental partner Matt Ahrens and associate Allison Sloto, Global Corporate special counsel John Garces, Tax partner Max Goodman and associate Michael Rivkin.
