Orrick Advises Intersect Power on Investment to Accelerate Development of Renewable Energy

February.04.2021

We advised Intersect Power, one of the North America’s largest developers of utility-scale renewable energy, on securing over US$600 million in equity and debt financing from Climate Adaptive Infrastructure, Trilantic North America, Generate Capital and CarVal Investors. Intersect closed on a US$127 million equity investment from Climate Adaptive Infrastructure and Trilantic North America and a US$482 million debt facility from Generate Capital and CarVal Investors. The investments will enable Intersect to accelerate its deployment of utility-scale renewable energy, including in their core business of solar and energy storage, while expanding into the emerging decarbonization technology of hydrogen. Intersect’s pipeline consists of 3.2 GWDC of late-stage solar and storage projects and other clean infrastructure assets - anticipated to be operational by 2023.

Orrick is an established leader in the solar and energy storage industries, providing our clients with unrivaled market knowledge of project development and debt and equity financing for utility-scale renewable energy projects. We partner with clients on emerging clean energy technologies and have handled many first-of-a-kind transactions in the alternative energy space. The team was led by John Cook and Tom Glascock and included Michael Masri, Steve Malvey, Heather Behrend, Devin Canavan, Thomas Joraanstad, Xiaowan Mao, Seth Norris, and Brandon Sanders.