Holland & Knight Represents OnPeak Power in Sale of Solar Projects
HOUSTON (December 20, 2021) – Holland & Knight advised OnPeak Power in the sale of four U.S. solar projects totaling 1.1 GW to a new joint venture formed between two Israeli companies. The transaction also included the negotiation of a long-term development relationship with OnPeak.
The joint venture is between Kenlov Renewable Energy, an international originator, investor and IPP headquartered in Tel Aviv, and Ashtrom Renewable Energy, a subsidiary of the Israeli property and construction firm, Ashtrom Group, and is called KARE LLC.
KARE will develop, finance, build and own utility scale projects in the U.S. and intends to invest across solar, wind and battery storage projects that are originated by OnPeak.
Three of the solar projects are being developed in Texas while the fourth is in Idaho. They include:
- The Tierra Bonita Solar Project, a 305MW (ac) project in Pecos County, Texas
- The Whitethorn Park Project, a 270MW (ac) project in Pecos County, Texas
- El Patrimonio Project, a 125MW (ac) project in Bexar County, Texas
- The Soles Rest Solar Project, a 151MW (ac) project in Elmore County, Idaho
Holland & Knight Partners George Humphrey and Walker Brierre led the representation of OnPeak. They were assisted by partners Roger Aksamit and Ashley Phillips, senior counsel Nneka Obiokoye, consulting counsel John Cohn, and associates Parker Pritchett, Manny Gardberg, Cameron Haltom, Stephen McCallister and Jacob Lawler.