Nixon Peabody Advises DOE In Connection With $400M Conditional Commitment For A Loan Guarantee To Abound Solar

Nixon Peabody Advises DOE In Connection With $400M Conditional Commitment For A Loan Guarantee To Abound Solar

New York, NY. The U.S. Department of Energy (DOE) has announced its offer of a conditional commitment for a loan guarantee of $400 million to Abound Solar Manufacturing, LLC to manufacture state-of-the-art thin-film solar panels. Nixon Peabody LLP is counsel to the DOE in this matter.

July 16, 2010 // // Nixon Peabody Advises DOE In Connection With $400M Conditional Commitment For A Loan Guarantee To Abound Solar

The announcement, which will allow for the first-time, commercial deployment of thin-film photovoltaic technology using a new manufacturing process for Cadmium-Telluride panels anywhere in the world, was made last week by President Obama in his weekly video address.

Funded by the American Recovery and Reinvestment Act, this project includes two facilities, one in Longmont, CO and the other in Tipton, IN. The company anticipates that the project will create approximately 2,000 jobs during construction and 1,500 permanent jobs.

The multi-disciplinary Nixon Peabody team working on the matter was led by Prem Malali and included partners Scott Singer, Ruth Leistensnider, Elizabeth Whittle and David Resnick.

Nixon Peabody has an extensive renewable energy practice, which includes representing clients in all aspects of the financing and development of many types of projects, including solar, wind, fuel cells, geothermal, biomass, landfill gas, hydroelectric, and tidal.

About Nixon Peabody

Nixon Peabody LLP is recognized as a "Global 100" law firm—one of the largest in the world. With 700 attorneys collaborating across major practice areas in 17 cities, including Boston, Chicago, London, Los Angeles, New York, Paris, Rochester, San Francisco, Shanghai, Silicon Valley, and Washington, DC, the firm's size, diversity, and advanced technological resources enable it to offer comprehensive legal services to individuals and organizations of all sizes in local, state, national, and international matters. Nixon Peabody LLP was recognized as one of FORTUNE magazine's "100 Best Companies To Work For®" three years in a row. The firm has also been named to the Human Rights Campaign's 2010 "Best Places To Work For LGBT Equality" list.



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