Sheppard represented Greenbacker Renewable Energy Company LLC (Greenbacker) in a $440 million tax equity financing for its Cider Solar Project (Cider), a 674 MWdc / 500 MWac utility-scale solar farm in Genesee County, New York. U.S. Bank and M&T Bank provided the financing, which will play a critical role supporting the project’s financial structure and advance Cider toward commercial operation in late 2026. The financing also marks the completion of all key financial milestones for the project as it heads toward completion.
When complete, Cider is expected to be the largest solar project in New York state and is expected to generate enough clean electricity to power approximately 120,000 homes annually. It also is projected to create hundreds of construction jobs and generate roughly $100 million in revenue to the local community over its operational lifespan through property taxes, host community agreements and tax benefits.
Greenbacker is an energy transition-focused investment manager and independent power producer. Its more than 450 renewable energy projects have produced over 10 million MWh of clean energy since 2016, abating more than seven million metric tons of carbon dioxide and supporting thousands of green jobs.
Christine Hourcade-Hoefliger and Katarzyna Levecke led the Sheppard team and included Michael O’Brien, Amit Kalra, Megan La Tronica, Nicholas Dugdale, Bret Strzelczyk, Winnie Weil, Darian Hackney and Alexander Queen.
Read the press release here.