White & Case advises Avantus on more than US$300 million financing for Kitt Solar and Energy Storage Project

Global law firm White & Case LLP has advised Avantus on the development and more than US$300 million financing of the Kitt Solar and Energy Storage Project. The financing package with Banco Bilbao Vizcaya Argentaria and Canadian Imperial Bank of Commerce, New York Branch, comprises construction funding, a tax equity bridge loan and letters of credit.

Located in Pinal County, Arizona within the City of Eloy, Kitt features 100 MWac/130 MWdc of solar and 400 MWh of energy storage. Once operational, Kitt is estimated to generate more than US$25 million in local tax revenues to benefit local services.

The White & Case team supported Avantus on the agreements related to construction, transformer, battery and PV module supply, long-term services, operations and maintenance, asset and construction management, and other ancillary agreements. Leading up to financial close, the integrated White & Case team assisted Avantus with the drafting and negotiation of the finance documents and conditions precedent to closing.

Avantus is a premier US developer of utility-scale solar and energy storage projects, with approximately 24 GWs of solar and 75 GWhs of energy storage under development across the Western United States.

The White & Case team was led by Project Development and Finance partners David Strickland (Houston), Raffaele Turco, Raymond Azar (both in New York) and Aaron Potter (Chicago). The team also included Tax partner Michael Sykes and associate Jordan Jentz (both in Washington, DC); and Project Development and Finance associates Jeffrey Godly, Catherine Gu, Jessica Webb and Gahyun Kim (all in New York). International law clerks Sebastian Cross and Ignacio Mesa (both in New York) also advised on the matter.

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