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Cedar Knolls
240 Cedar Knolls Road,
Suite 306,
Cedar Knolls, NJ 07927
Phone: 973-993-4477
West Caldwell
175 Fairfield Avenue #1C
West Caldwell, NJ 07006
Phone: 973-403-1661



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Business | Banking | Solar and Electric & Gas Supplier Regulation
Cable TV, Water & Other Public Utility Regulation | Real Estate
 

Solar and Electric &
Gas Supplier Regulation


Solar power and energy deregulation have undergone sweeping changes in recent years, with solar energy emerging as a preferred source of electricity in New Jersey and elsewhere. Russo Tumulty is a leader in New Jersey serving solar and energy clients.

1. EPC contracts, supply agreements, SREC sale agreements, and related/similar agreements. 

  • Russo Tumulty has negotiated EPC Contracts and amendments for construction of solar power generating projects, as well as advised on interpretation, implementation, and exiting of such agreements for projects – representing owners, developers and EPC contractors.
  • The Firm has drafted subcontracts, change orders, settlements, and releases for engineering services, installation services, solar panel sales, and the like.
  • Russo Tumulty has drafted external supply agreements for solar products and parts.  In addition, the Firm has negotiated contracts for engineering/consulting companies. 
  • The Firm has negotiated, reviewed, modified and dealt with enforcement issues in construction contracts for installation of fuel cell generation equipment, installation of solar panel and related generating equipment, and environmental remediation – on behalf of contractors, owners, purchasers, lenders, and surety companies.   
  • The Firm has prepared and negotiated multi-year Solar Renewable Energy Certificate (“SREC”) sale agreements that are essential to the viability of New Jersey solar projects.

 2. Power Purchase Agreements (“PPAs”). 

  • Russo Tumulty has negotiated non-disclosure agreements, letters of intent, solar PPAs, modifications, extensions, and terminations for New Jersey clients in New Jersey, Colorado and California.
  • Russo Tumulty has negotiated a $100 million PPA on behalf of an LSE with one of the largest electric distribution companies in PJM. 
  • The Firm has negotiated operation and maintenance agreements, easements, and interconnection agreements.
  • The Firm assists developers and load serving entities (“LSES’s”) in commenting on and compliance with clean energy regulation.

3. Project financing (in solar market space). 

  • Russo Tumulty has closed transactional and financing documents for projects sized at 700 kW, 1.1 MW, 1.4 MW, 1.5 MW, 2 MW, 400 kW, 1.1 MW, 500 kW in two phases, and more. The Firm is assisting with projects under and at 1 MW, 2 MW, 4 MW, in the 5 to 10 MW range, and for 20 MW.
  • Russo Tumulty’s attorneys have decades of regulatory and financing experience including services for a major LSE in PJM, solar developers, cable television owners/financiers, traditional lenders, equipment financiers, conduit lenders, mezzanine and other specialty lenders/investors, and borrowers.  The Firm has repeatedly negotiated revolving lines of credit, equipment financing, asset-based loans, term loans, construction loans, multi-lender loans, and regularly assists with advising and structuring parents, subsidiaries, affiliates, and special purpose entities. 
The Firm participates in a variety of stakeholder groups regarding regulatory matters -- commenting on interconnection issues and New Jersey’s energy master plan.  Russo Tumulty has assisted with a variety of power supply contracts, applications to the New Jersey Board of Public Utilities, petitions for declaratory relief, electric and gas supplier licensing and renewable portfolio compliance matters.  For assistance, please contact Howard Thompson at 973-993-4477 or by e-mail at hthompson@russotumulty.com.
 
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