The Week in Deals
4 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Jul 23 | Corporate Debt & Capital Markets | BESS | Aypa Power | Multiple (consortium) | $650M | Multi-state | Closed | Aypa Power (Blackstone portfolio) $650M upsized corporate facility. PEI as FA. Largest corporate facility in energy storage. | |
| Jul 23 | Resource adequacy agreement | BESS | Ormat Technologies | City of Riverside | 80 MW | CA | Announced | Ormat secured a 15-year Resource Adequacy Purchase and Sale Agreement with the City of Riverside for the 80MW/320MWh Shirk Energy Storage facility in Visalia, California. | |
| Jul 22 | Construction financing | BESS | Clearway Energy Group | NORD/LB | $700M | CA | Closed | Clearway closed more than $700 million in construction financing for the Luna Valley and Daggett Storage 1 projects, with NORD/LB, Societe Generale, KeyBanc Capital Markets, DNB and ANZ as lenders. | |
| Jul 22 | Utility PPA | BESS | Clearway Energy Group | SDG&E | 113.5 MW | CA | Closed | San Diego Gas & Electric contracted the Daggett Storage 1 battery project under a 15-year agreement paired with the Luna Valley solar project. |
Change of Control
2 movesSteffen Pietzke joined as Chief Financial Officer at EnerVenue (from Chief Financial Officer, Enovix Corporation)
Joined nickel-hydrogen battery startup EnerVenue (Stanford-spinout, Schlumberger-backed) as CFO. Two decades of energy-tech CFO experience including Enovix's IPO.
Jul 24
Mark Christy joined as Partner, Tax (Renewable Energy) at Orrick, Herrington & Sutcliffe (from Partner, Winston & Strawn)
Orrick hired Christy from Winston & Strawn in Chicago to bolster its renewable energy tax practice amid surging demand driven by the IRA.
Jul 23
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