TerraPro Solutions Provides Due Diligence, Title Curative and Closing Support to BayWa r.e. for Tax Equity and Third-Party Construction Financing for Fern Solar Project
The Fern Solar Project, located in Edgecombe County, North Carolina, it is the first of BayWa r.e.'s projects at scale in the US, Fern Solar will be retained and managed longer-term.
SAN DIEGO, April 29, 2020 /PRNewswire-PRWeb/ -- TerraPro Solutions provided comprehensive real estate and risk mitigation support for the Fern Solar project. Working closely with BayWa r.e.'s development team, TerraPro Solutions experts managed the real estate due diligence and title curative deliverables to provide the final affidavits, consent and non-disturbance agreements, crossing agreements and lease documentation for the Fern Solar Project. TerraPro also provided expert transaction guidance from inception to closing, navigating North Carolina's complex mechanic's lien prerequisites, to satisfy lender and title company requirements. Through its efforts, the lease, title curative documentation and title policies were secured, thus ensuring the debt and equity financing due diligence required to start construction.
"BayWa r.e. Solar Projects appreciates the diligent effort provided by TerraPro Solutions. Their staff was dedicated to completing the transaction on time and accurately, which wouldn't have been possible without their support. We look forward to working with them on other major transactions like Fern," said Jam Attari, CEO, BayWa r.e. Solar Projects LLC.
Global renewable energy developer, service provider and distributor BayWa r.e. has secured tax equity and construction financing for its Fern Solar project in Edgecombe County, North Carolina. RBC Capital Markets syndicated a tax equity investment commitment in the project and the lender group comprised of Rabobank, Coordinating Lead Arranger, and Banco Sabadell have committed to providing construction and term financing.
About TerraPro Solutions:
TerraPro Solutions, a leading risk mitigation renewable energy project development consultancy has generated over 10 GWs in Solar, Wind, and Energy Storage. With a total financed value of over $6 billion, it is the top development consultancy in the renewables market. TerraPro Solutions provides high-level expertise in the development and implementation of renewable energy projects. Comprehensive services range from site feasibility and land acquisition to due diligence for investment and financing, through construction, compliance and post-construction operations.
TerraPro Solutions' risk management process includes in-depth risk reviews and comprehensive analysis as well as training and coaching that empowers project team members to make informed decisions about risk management. For more information contact Annemarie Osborne 949-237-2906 [email protected] or Vanessa Faucher 858-573-2000 [email protected] or visit http://terraprosolutions.com/
About BayWa r.e. renewable energy GmbH (BayWa r.e.): https://us.baywa-re.com/en/
Across solar and wind, at BayWa r.e we r.e.think energy – how it is produced, stored and best used. We are a leading global developer, service supplier, distributor and energy solutions provider.
We deliver renewable energy solutions worldwide, and have brought over 3 GW of energy online, while managing over 8.3 GW of assets. BayWa r.e is a leading supplier to the solar wholesale market. We also have a rapidly growing energy trading business.
We are part of the BayWa Group, a business with revenues of EUR17.1 billion. Every day we are working hard to find new solutions, push technological boundaries and actively shape the future of energy and taking a stand against climate change.
Contact information:
BayWa r.e. renewable energy GmbH
Misty Chioffe
Media Contact, Americas
+1 949-383-7915
E-mail: [email protected]
SOURCE TerraPro Solutions
Share this article