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Pierce Atwood serves as lead transactional and environmental counsel for a leading U.S. operator and developer of stand-alone, utility-scale battery energy storage systems, in connection with a proposed 700±-MW battery energy storage system in Everett, Massachusetts. When completed, the proposed storage facility will be one of the largest in Massachusetts and will occupy a critical, urban location given its proximity to the Mystic substation. Pierce Atwood also leads aspects of the complex, state environmental permitting efforts, including, but not limited to, permitting under the Massachusetts Public Waterfront Act, known as Chapter 91, and the Massachusetts Environmental Policy Act.
Obtained for BBC Worldwide Ltd. relief from the automatic stay to permit prosecution of proceedings in High Court in England to aid in defense of litigation commenced in Maine Superior Court and removed to Bankruptcy Court. Beeload Limited Chapter 11 (Bankr. D. Me.).
Represented a boatyard with response to an information request from the EPA filed under the Clean Water Act regarding compliance with Maine Multi-Sector General Permit for Industrial Activities.
Pierce Atwood represented Great Bay Renewables, LLC, in connection with a $40 million secured term loan facility to Great Bay’s development partner, Nova Clean Energy, LLC. This follow-on transaction comes two years after Great Bay’s initial investment into Nova and its parent company Bluestar Energy Capital in May 2022. Since that time, Nova has built an extensive pipeline of 25 wind, solar and battery storage projects totaling approximately 6.5 GW.
We helped our client Bristol Seafood, a Portland based seafood processor and distributor, to raise equity capital from two new investors. The investment involved common and preferred instruments and resulted in a substantial minority stake being sold. Bristol Seafood’s incumbent management team remains in place and they will now be able to significantly expand operations. One of Bristol Seafood’s new investors is David Roux, formerly of Lewiston, Maine, who is a partner in the noted private equity firm Silver Lake Partners.
Pierce Atwood has been working with Brown University to develop construction contracts for a number of capital projects using the innovative Integrated Project Delivery (IPD) approach to project delivery. Among the projects Brown has successfully completed using IPD is the new, $90 million School of Engineering building and renovations project. Brown is currently delivering several projects using IPD, including the much anticipated Performing Arts Center project. Brown University has taken a leading position in the New England region in recognizing the potential benefits of, and implementing, this new and exciting approach to project delivery.
Pierce Atwood advised BTU International, a publicly traded global supplier of thermal processing equipment, in a stock for stock, tax-free merger with Amtech (NASDAQ: ASYS), a global supplier of production and automation systems.
For a Fortune 1000 company, we successfully negotiated a build to suit lease amendment for a 246,000 square foot corporate headquarters including federal and state registration and development of 140 lot residential subdivision.
We served as lead counsel for a top-ten North American bank in connection with acquisitions of mission critical information systems involving the exchange of highly regulated personal information.
We advised Burgess Biopower on all aspects of financing the redevelopment of a shuttered paper mill into a state-of-the-art 75 MW biomass power plant located in Berlin, New Hampshire, which will burn waste biomass and sell power to the grid. The financing involved several sources of funds, including $63.5 million of new markets tax credit financing with allocation from six CDEs. The project also involved a $90 million section 1603 cash grant in lieu of an investment tax credit or production tax credits. The balance of the project was financed by $200 million of rated bonds provided by a consortium of financial institutions. We also advised with respect to EPC agreement, off-take power purchase agreement with PSNH and all project related agreements.
Designed, drafted and lobbied on behalf of manufacturers and other industrial clients a business property tax reimbursement program providing full reimbursement for most business equipment ("BETR"), and subsequently a property tax exemption for business equipment ("BETE"). Worked to achieve annual funding of these programs.
