Foley & Lardner LLP represented Kimmeridge Energy Management Company, LLC, an alternative asset manager focused on energy investments, in the sale of its portfolio company U.S. Light Energy, a community solar developer having approximately 250 megawatts of projects in its pipeline, to 38 Degrees North, a community solar and distributed renewables platform based in Sausalito, California.
Foley also advised Kimmeridge on its simultaneous growth equity investment in 38 Degrees North. The investment by Kimmeridge, made alongside Climate Adaptive Infrastructure, brings 38 Degrees North’s total growth capital raised to more than $230 million.
Founded in 2015, 38 Degrees North develops distributed generation and community solar projects and has completed more than 400 megawatts across over 100 projects since its inception. The investment will support the company in meeting growing demand for distributed renewable energy projects across the United States.
The Foley deal team representing Kimmeridge and U.S. Light Energy was led by John Klusaritz and Miguel Beltran, with tax support from James Howard.
