On March 30, 2015, a subsidiary of Renewable Energy Trust Capital, Inc. acquired CityLights solar power project, a 10-megawatt AC solar power plant, from CSI Solar Project 16 Inc., a subsidiary of Canadian Solar Inc. Two other 10-megawatt AC solar power plants, DiscoveryLight and FotoLight, were acquired by the same subsidiary on December 31, 2014. The acquisitions were financed through a hybrid credit and note purchase arrangement arranged by Norddeutsche Landesbank Girozentrale, New York Branch and Babson Capital Management LLC.
Renewable Energy Trust was represented in Canada, in respect of the acquisition, by Blake, Cassels & Graydon LLP with a team consisting of Ken Pearce, Andrew Thompson, Leslie Wong and Yoni Grundland (corporate), Daniel Kofman (real estate) and Kathleen Penny and Ian Caines (tax) and in respect of the financing by Stikeman Elliott LLP with a team consisting of Eric Bremermann, Peter Hamilton and Matt Cameron. Renewable Energy Trust was represented in the US by Troutman Sanders LLP with a team consisting of John Leonti and Christine Byrnes.
Canadian Solar was represented by Fogler, Rubinoff LLP with a team consisting of Michael Slan, Karen Rosen, Brian Gosse, Yadira Flores and Sabrina Nardone (corporate and banking) and Daliah Szechtman (real estate).
The lenders were represented in Canada by Torys LLP with a team consisting of Scott Kraag, Adrienne Love and Olga Matyash (banking) and Andy Gibbons (real estate) and in the US by Latham & Watkins LLP, with a team consisting of John Sachs, David Penna, Liz Matthew and Eric Merrill.