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December 20, 2023

Holland & Hart Represents Copia Power in $1.2 Billion Construction Loan Financing for Arizona Solar and Storage Projects

Holland & Hart represented Copia Power (Copia), a Carlyle portfolio company, in a $1.2 billion construction-to-term loan financing to fund the construction of its Harquahala Sun 1 and Harquahala Sun 2 solar plus storage projects, located in Maricopa County, Arizona, outside of Phoenix.

The firm served as real estate counsel on the financing, one of the first structured with a non-recourse tax credit transfer bridge and term loan takeout, leveraging the flexibility provided by the IRA’s tax credit transfer provisions.

The first two phases of Copia’s Harquahala Sun complex are expected to be completed in early 2025 and produce 450 MW of solar generation annually and include a 300 MW/1200 MWh battery energy storage system.

The Holland & Hart transactional team was led by renewable energy attorneys Adrienne Bell, Addison Fairchild, and Eben Clark, with assistance from paralegal Dickie Chazotsang.

For more information, please see Copia’s press release.

Our Renewable Energy and Storage team brings specialized experience in renewable energy and storage project finance and development to this dynamic market. We help clients capitalize on existing solar, wind, hydro, geothermal, battery, and other renewable energy technologies—as well as innovative new energy opportunities—as part of the global transition to a clean energy economy.


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