White & Case Advises Calpine Corporation on the US$1B Financing of a 680 MW Battery Storage Project

Press Release
1 min read

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 consisted of credit facilities totaling more than US$1 billion to finance the development and construction of a 680 MW battery energy storage system complex in Menifee, Riverside County, California, which will be constructed in five phases. When completed, 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), with assistance from associates Jia Ying, Mostafa Al Khonaizi, Tom Robinson, Michael Sciascia, and law clerks Will Davidson, Reva Mann, Clarissa Lotson (all in New York) and Ramya Hari (Mexico City). The team also included support from a cross-section of the Firm's practices, including Project Development and Finance partner David Strickland, counsel Michael Yates and associate Lane Ransom (all in Houston); counsel Tallat Hussain (London); Debt Finance counsel Amy Delsack (New York); M&A partners Ipek Candan Snyder and Seth Kerschner (both in New York) and law clerk Elizabeth Fuller (Houston); Capital Markets partners Elodie Gal, Ian Cuillerier, partner of counsel Sylvia Chin, counsel Rhys Bortignon, and associate Zhou Bo (Joseph) Chen (all in New York); Tax partner Jeffrey Davis (Washington, DC) and counsel Isaac Tendler (New York); International Trade partner Cristina Brayton-Lewis, and associates Joanna Anyanwu and Timothy Sensenig (all in Washington DC); White Collar partner Michael Garcia (Miami); and Employment, Compensation & Benefits counsel Heidi Schmid (New York).

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