Shearman & Sterling advised Aurora Solar Corporation (a joint venture comprised of, among others, Osaka Gas Co., Ltd. and Mitsubishi Corporation) as purchaser of nine photovoltaic (pv) generating facilities in Ontario, Canada. The sponsors were advised by Mizuho Corporate Bank, Ltd. as financial advisor and Stikeman Elliott as Canadian counsel.
Commercial operations are expected to begin at the end of 2012 and gradually expand through the end of 2013. The facilities will sell power to the Ontario Power Authority over a 20-year period.
The Shearman & Sterling team included partners Howard Steinberg (New York-Project Development & Finance), Robert Freedman (New York-Project Development & Finance), Etienne Gelencsér (Tokyo-Project Development & Finance), and Kenneth Lebrun (Tokyo-Mergers & Acquisitions) and associates Nathan Mee (San Francisco-Capital Markets), Colin Keefe (New York-Project Development & Finance), Christian Rudloff (New York-Real Estate), Raleigh Morgan (Tokyo-Mergers & Acquisitions), Ayako Adachi (Tokyo-Capital Markets) and Kenji Strait (Tokyo-Capital Markets).
