White & Case advises bank syndicate on AU$300 million corporate debt facility for Akaysha Energy

Global law firm White & Case LLP has advised a syndicate of global and domestic banks as lenders, comprising BNP Paribas, Deutsche Bank, ING, SMBC and Westpac, on a A$300 million corporate debt facility for Akaysha Energy pty ltd (Akaysha Energy), a market leader in large-scale battery energy storage systems (BESS).

The three-year multi-currency revolving loan and Letter of Credit facility is a unique borrowing base loan structure in the Australian renewable energy sector, providing Akaysha Energy with the flexibility to advance its BESS project pipeline in Australia, Japan, the US and Germany. The White & Case team advised the lenders on all aspects of the financing on matters of Australian, New York and English law, advising on both Australian and US market terms for equipment structures.

"This transaction reflects the growing sophistication of financing in the renewable energy sector, introducing an innovative facility that will accelerate the rollout of large-scale battery storage for Akaysha on a global scale." said White & Case partner Joel Rennie, who co-led the Firm's deal team. "The backing from significant global and domestic financial institutions highlights the importance of large-scale energy storage in the energy transition, and White & Case's unique ability to advise on US and Australian cross border transactions."

The transaction completed on 4 September 2025.

Established in 2021, Akaysha Energy is backed by global asset manager BlackRock.

The White & Case team advising on the transaction was led by partners Joel Rennie (Sydney) and Nadav Klugman (Chicago) and included associates Isabella Jarrett, Matthew Weetman and Siqi Chen, (all Sydney), Jarrett Doe (Chicago) and graduate lawyer Irabaan Majumdar (Sydney).

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