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DOE Closes $400m Loan Guarantee for State-of-Art Solar Project; Nixon Peabody Advises DOE on Innovative Project

December 20, 2010
Allison McClain
amcclain@nixonpeabody.com
617-345-1128

New York, NY. The U.S. Department of Energy (DOE) has finalized a $400M loan guarantee for Abound Solar Manufacturing, LLC, to manufacture state-of-the-art, thin-film solar panels. The project will allow for the first-time, commercial deployment of thin-film photovoltaic technology using a new manufacturing process for cadmium-telluride panels anywhere in the world. Nixon Peabody LLP served as counsel to the DOE in this matter—the fifth Recovery Act project to close, to date.

Funded by the American Recovery and Reinvestment Act, this project includes two facilities, one in Longmont, CO, and the other in Tipton, IN. The company anticipates that the project will create 1,200 new jobs for ongoing manufacturing and operations—including 200 in Colorado and 1,000 in Indiana. The project will also support hundreds of construction jobs and an estimated 1,600 ongoing supply chain jobs throughout the Midwest, including Wisconsin, Minnesota, Tennessee, and Ohio.

The multidisciplinary Nixon Peabody team working on the matter was led by New York City–based project finance partner Prem Malali, and included environmental partner Ruth Leistensnider, intellectual property partner David Resnick, and real estate counsel William Lang. The Nixon Peabody team was ably supported by finance associate Elizabeth Qually, real estate associate Joanne Moolsintong, and paralegal Stephanie Schinella. Nixon Peabody has an extensive renewable energy practice, which includes representing clients in all aspects of the financing and development of many types of projects, including solar, wind, fuel cells, geothermal, biomass, landfill gas, hydroelectric, and tidal.