Latham & Watkins Advises Scale Microgrids in US$150 Million Tax Equity Financing

Scale Microgrids (Scale) has closed a tax equity partnership with Truist Bank to support the construction and ownership of new distributed energy assets across the United States, including California, Connecticut, New York, and Pennsylvania. Truist Bank will provide a tax equity investment of up to US$150 million.

Latham & Watkins LLP represented Scale in the transaction with a project development and finance team led by New York partner Kelly Cataldo. Financing advice was provided by associate Dominika Kovacicova. Advice was also provided on energy regulatory matters by Washington, D.C. partner Tyler Brown; on environmental matters by Los Angeles/Houston partner Joshua Marnitz; on real estate matters by New York counsel Lisa Brabant; and on tax matters by New York partner Eric Kamerman, with associate Jared Kawalsky.