Foley Hoag LLP advised Monarch Private Capital in Phases I and II of tax equity financings of a combined 300MW solar and crop cultivation project known as The Eldorado Project. The Eldorado Project is developed by Sol Systems, a national renewable energy company, to advance sustainable energy and contribute to the development of clean energy infrastructure in southern Illinois. Phase I and II of the project will invest nearly half a billion dollars into the regional economy.

Phase I of The Eldorado Project, located in Saline County, IL, involved the tax equity financing of a 190MW solar project utilizing U.S.-made solar panels and racking to produce clean energy. The recently announced Phase II brings an expansion of the solar project to a combined 300MW, as well as community impact programs, American-made TOPCon modules, and several crop cultivation methods intended to support local businesses, sequester carbon, and enhance sustainable agriculture and the biodiversity of the land in use for the project.

A team of Foley Hoag attorneys led by Sara Mattern, Nicholas Romanos, and Mark Barnett advised Monarch Private Capital in the transaction, with additional support provided by Erica Harrington, Max Tenney, Mariah Figlietti, Lexi Stacy, Jonathan Book, Kristine Sheehy, Zachary Gerson, Aaron Lang, Adam Wade and Creighton Page.