Intersect Power three standalone BESS projects (Texas)
Orrick advised Intersect Power on $837M in financing commitments for Texas BESS.
$837M
Deal Value
BESS
Technology
TX
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Intersect Power
- Buyer / Financier
- Multiple
- Deal Value
- $837M
- Stage
- Unknown
- ISO/RTO
- ERCOT
- Source
- Industry Source
Capital Structure
$837M
Total transaction value
Tranches
- Construction Loan · HPS Investment Partners (with Deutsche Bank)
- —
- Term Loan · HPS Investment Partners
- —
- Tax Equity · Morgan Stanley
- —
- Letter of Credit · Deutsche Bank
- —
Service Providers
Advisory & Legal
- developerCounsel
- Orrick, Herrington & Sutcliffe
Related Deals
Radian Solar — 320 MW solar, Brown County, Texas (ERCOT)
Intersect Power → Apple
Amazon Q1/Q2 2021 PPA tranche — 9 projects globally; US: 118 MW Murray County OK wind, 400 MW solar in OH, 100 MW PV + 70 MW BESS Imperial Valley CA (first Amazon solar+storage)
Multiple developers → Amazon
1,500 MW
Alta Wind VIII (150 MW CA) + Windstar (120 MW CA) + Coram (22 MW CA) + Granite Reliable (99 MW NH) — 391 MW operating wind portfolio
Brookfield Renewable Partners → NextEra Energy Partners
$733M
REE Automotive — modular EV "REEcorner" platform for fleets
REE Automotive (NASDAQ: REE) → 10X Capital Venture + $300M PIPE
$3.1B combined value; >$500M proceeds (incl. $300M PIPE)
Microvast — Li-ion battery systems for EVs and energy storage (ultra-fast charging, high cycle life)
Microvast Inc. → Tuscan Holdings Corp.
$3B (pro forma equity)
Mira Loma Battery Storage Facility — 20 MW / 80 MWh Li-ion (~400 Tesla Powerpacks)
Tesla → Southern California Edison
20 MW
Leadership at the Counterparties
Recent executive moves at the firms named in this deal.
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.