Orrick Advises HASI on Equity Investment in ForeFront Power Distributed Solar Portfolio

1 minute read | May.16.2023

Orrick advised HASI, a leading investor in climate solutions, on an equity investment for a portfolio of distributed solar and solar-plus-storage projects developed by ForeFront Power, a developer and asset manager of commercial and industrial (C&I) solar energy and battery storage projects. The portfolio encompasses 48.5 MW of C&I ground-mounted, carport and rooftop solar projects across California, comprised of several projects paired with BESS. The portfolio includes approximately 36 MW of mechanically complete distributed assets that were funded during financial close, while the remaining projects will receive funding upon completion.

The financing expands on a previous co-sponsor equity investment for a separate U.S. distributed solar portfolio that closed in 2022. The additional funding bolsters the companies’ partnership and will facilitate ForeFront’s continued growth and expansion in the C&I space. The investment aligns with HASI’s objective of partnering with companies deploying real assets from proven technologies that reduce carbon emissions or increase resilience to climate change. The Orrick team was led by Louise Gibbons and included Helen Aki, Victor Hanna, ThuyMy Do and Crissi Berger.