Financing to Fund PJM Interconnection Deposits

Pierce Atwood represented Great Bay Renewables in connection with a follow-on transaction with its development partner, U.S. renewable energy developer Hexagon Energy, LLC. Great Bay will provide up to $30 million to support upcoming interconnection security requirements to advance Hexagon’s 3.4 GW PJM portfolio in the interconnection process.

This transaction builds on Great Bay’s previous royalty investment and interconnection deposit facility for Hexagon, and ensures that Hexagon can continue to advance key projects. Pierce Atwood advised Great Bay on those earlier transactions.