A Locke Lord team led by Mike Malfettone (New York) represented Greenbacker Capital Management, LLC, through an affiliated fund, in a strategic investment in Dichotomy Power LLC, an owner and operator of a growing portfolio of hydroelectric power generation facilities across the Northeastern United States. The transaction, which closed in November, is the third investment made by Greenbacker in 2020. The investment is a signal of the importance of hydropower as an alternative to fossil fuel generation, and of the promise of hydro assets as attractive long-term investments. Terms of the investment were not disclosed. For more information, see the press release. Additional assistance was provided by Ben Cowan, Brandon Lobb, Mark Miller (all of Houston) and Jennifer Brough (Washington, D.C./San Francisco).
Posted on December 18, 2020