Latham & Watkins Represents Lenders in Leeward Renewable Energy’s US$1.25 Billion Warehouse Facility Financing

Leeward Renewable Energy (LRE), a leading renewable energy company, announced the closing of its US$1.25 billion construction warehouse facility (Construction Warehouse), marking a significant scaling of its financing capacity to support continued investments in its rapidly growing operating portfolio. The Construction Warehouse provides three years of committed capital designed to fund a multi-year build plan of advanced and construction-ready projects from LRE’s development pipeline. Initially, the US$1.25 billion revolving facility will fund the construction of six fully contracted wind, solar, and battery storage projects, totaling nearly 1 gigawatt (GW) of capacity, which are expected to be completed and begin operation throughout 2024 and 2025.

Latham & Watkins LLP represented the lenders in the transaction with a Project Development & Finance team led by San Diego partners Omar Nazif and Brett Rosenblatt, with associates Jiyeon Chun, Jessica Lietz, and Arielle Schechtman. Advice was also provided on energy regulatory matters by Washington, D.C. partner Natasha Gianvecchio, with associate Matt Piggins; on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associates Jacqueline Zhang and Brandon Kerns; on real estate matters by San Diego partner James Mann, with associates Will Swanson and Tanya Khiatani; and on tax matters by New York partner Eli Katz and Chicago partner Rene de Vera, with associate Andrea Herman.