WilmerHale Advises Nofar Energy in $91M Acquisition of Stake in Blue Sky Utility

WilmerHale Advises Nofar Energy in $91M Acquisition of Stake in Blue Sky Utility

Client News

Related Solutions

With lawyers across the United States and in key international locations, our team handles high-stakes matters before the regulatory and enforcement agencies with energy and environmental oversight.
Lawyers with deep and broad experience counseling clients in every industry on the design, implementation, and interpretation of executive compensation arrangements and on general compensation and benefits issues.
WilmerHale lawyers have decades of experience advising public and private companies in all aspects of mergers and acquisitions.
A deep and diverse practice focused on maximizing tax efficiencies and minimizing tax risks for clients nationally and internationally.

Israeli renewable energy company Nofar Energy has acquired a 67% stake in US-based solar and storage developer Blue Sky Utility for a total consideration of $91 million. The acquisition price includes a $26 million initial purchase and equity investment into Blue Sky and a debt facility of $65 million offered for future growth investments. Based in Napa, California, Blue Sky Utility is a renewable energy and storage firm that develops, builds and manages commercial and industrial (C&I) solar and storage facilities. The transaction marks Nofar’s entry into the US, which is in line with its strategy to expand operations into the global markets and synergetic to its expertise in the C&I space. Proceeds from the sale are expected to advance the execution of Blue Sky’s existing near-term pipeline and solar projects in development.

The WilmerHale team advising Nofar was led by Tal Hacohen and included David Gold, Ben Hanna, Paula Mercer, Scott Kilgore, Bill Caporizzo, Gavin Tullis, Brandt Tierney, Louise Luongo and Mark Devine.

For more information, read the article.

Notice

Unless you are an existing client, before communicating with WilmerHale by e-mail (or otherwise), please read the Disclaimer referenced by this link.(The Disclaimer is also accessible from the opening of this website). As noted therein, until you have received from us a written statement that we represent you in a particular manner (an "engagement letter") you should not send to us any confidential information about any such matter. After we have undertaken representation of you concerning a matter, you will be our client, and we may thereafter exchange confidential information freely.

Thank you for your interest in WilmerHale.

I Accept Cancel