White & Case Acted for Calpine Corporation on 680 MW Battery Storage Project
White & Case Acted for Calpine Corporation on 680 MW Battery Storage Project
The transaction included credit facilities worth US$1B
Global law firm White & Case LLP has represented Calpine Corporation, the largest generator of electricity from natural gas and geothermal resources in the United States, in the closing of a syndicated project financing transaction in the commercial bank market.
The transaction comprised credit facilities totaling over US$1 billion to finance the development and construction of a 680 MW battery energy storage system complex. Located in Menifee, Riverside County, California, it will be constructed in five phases.
On completion, the project will be one of the largest battery storage systems in the US. The financing received Climate Bond Certification as a green financing.
The deal was led by project development and finance partner Nandan Nelivigi (New York). He was assisted by associates Jia Ying, Mostafa Al Khonaizi, Tom Robinson, Michael Sciascia, and law clerks Will Davidson, Reva Mann, Clarissa Lotson (New York) and Ramya Hari (Mexico City).
The team was supported by a cross-section of the firm's practices, including project development and finance partner David Strickland, counsel Michael Yates, associate Lane Ransom (Houston); counsel Tallat Hussain (London); debt finance counsel Amy Delsack (New York), mergers and acquisitions partners Ipek Candan Snyder and Seth Kerschner (New York), law clerk Elizabeth Fuller (Houston); capital markets partners Elodie Gal and Ian Cuillerier, partner of counsel Sylvia Chin, counsel Rhys Bortignon, associate Zhou Bo (Joseph) Chen (New York);
It also comprised tax partner Jeffrey Davis (Washington, DC), counsel Isaac Tendler (New York); international trade partner Cristina Brayton-Lewis, associates Joanna Anyanwu and Timothy Sensenig (Washington DC); White Collar partner Michael Garcia (Miami); and employment, compensation and benefits counsel Heidi Schmid (New York).
