Milbank, Tweed, Hadley & McCloy LLP advised J.P. Morgan Asset Management – Global Real Assets and Novatus in the acquisition of the 156 MWdc Comanche operational photovoltaic solar project in Pueblo County, Colorado.
The Comanche solar power plant is the largest solar facility in Colorado, producing more than 300 gigawatt-hours of energy annually, enough to power approximately 30,000 Colorado homes. The solar power plant will avoid the emission of more than 569 million pounds of carbon dioxide, the equivalent of taking more than 54,000 passenger vehicles off the road.
The project, which began commercial operations in September 2016, has a 25-year power purchase agreement in place with Public Service of Colorado, a subsidiary of Xcel Energy. The power purchase agreement was awarded as part of an open solicitation, where the Comanche solar project was selected as a preferred provider to other competitive forms of energy, including natural gas.
Corporate partner John Franchini and senior associate Aaron Stine led the team with assistance from Project, Energy and Infrastructure Finance partner Timothy Wendling, Tax partner Michael Duff and associate Mohsen “Mox” Elraheb; Project, Energy and Infrastructure Finance associates Kristine Wang and Hannah Hyon and Corporate associate Renee Stern.
