Bailey Glasser Helps Launch R3 Renewables LLC – A Groundbreaking Solar Energy Joint Venture between Riverstone Credit Partners, Summit Partners Credit Advisors and Peabody
Washington DC – March 3, 2021 – Bailey & Glasser, LLP is representing and collaborating with clients Riverstone Credit Partners and Summit Partners Credit Advisors as they launch R3 Renewables, a joint venture with Peabody to develop new solar energy projects in Illinois and Indiana. The joint venture will pursue the development of more than 3.3 GW of solar photovoltaic and 1.6 GW of battery storage capacity over the next five years.
R3 Renewables will be engaged in the development of six potential sites on large tracts of land on, or near, previous coal mining operations in Indiana and Illinois. The portfolio size and strategic site locations, each of which is in close proximity to grid injection points, offers the potential for the development of the largest solar and battery storage projects in those states.
“I am proud of the work that Bailey Glasser did to help bring this innovative partnership to fruition,” said Jonathan Deem, a partner with Bailey Glasser who worked on this matter. “Peabody, Riverstone and Summit should be commended for taking bold action on renewables. We believe this new joint venture is poised to make history helping to form a more sustainable and reliable energy future.”
In addition to Deem, the Bailey Glasser team consisted of partners Brian Glasser and Kevin Barrett, as well as lawyers Lorren Patterson, Fangyu (Fiona) Ye, and Amy Rubin.
Bailey Glasser lawyers worked closely with a team of lawyers from Simpson Thacher & Bartlett LLP on the R3 Renewables transaction.
About Bailey & Glasser, LLP
Bailey Glasser was founded in 1999 by Ben Bailey and Brian Glasser in Charleston, West Virginia. Now a national firm with 17 offices including in Alabama, California, Delaware, Florida, Massachusetts, Idaho, Iowa, Illinois, Missouri, New York, New Jersey, Pennsylvania, Texas, West Virginia, and Washington, DC, Bailey Glasser handles our clients’ most challenging and consequential legal issues, in litigation and in corporate matters.
We bring a trial-focused approach to litigation for plaintiffs and defendants that vigorously protects the interests of our clients – businesses in many industries and of all sizes (from Fortune 500 companies to family offices), individuals, governmental entities and government servants, and even law firms that call upon us to help them in matters because of our unique blend of resources and trial experience. Some of our areas of particular litigation focus include complex commercial litigation, in finance and energy; class action and mass tort cases; multi-district litigation involving medical devices, pharmaceuticals and automobiles; bankruptcy and insolvency proceedings; and individual negligence cases.
Bailey Glasser's sophisticated corporate practice provides strategic guidance, counseling, and innovative solutions in virtually every type of corporate, real estate, and financial transactions. Those projects include business formations, public and private securities offerings, corporate finance transactions, mergers and acquisitions, spinoffs, real estate development, leasing, personal property transactions, executive hiring and compensation, ownership disputes, and commercial lending. For more information, please visit www.BaileyGlasser.com.