Orrick Advises Daiwa on its Entry into U.S. Renewables Market

February.28.2022

We advised Daiwa Energy & Infrastructure Co. Ltd (DEI) in its strategic co-investment and co-development partnership with Solariant Capital, a California-based renewable energy investment and development company. The partnership will focus on developing Solariant’s portfolio of U.S. renewable energy projects and acquisition of other development-stage pipeline projects. The initial project pipeline consists of early stage solar + storage projects with over 1.0 GWac of solar and 2.5 GWh of BESS projects under development across the Southeast and Southwest U.S.

This transaction marks DEI’s first renewable energy investment in the United States, aligning strategically with their objective to aggressively expand their U.S. portfolio and accelerate development efforts across renewables markets and energy + storage project development. The partnership also aims to realize Daiwa’s ongoing efforts to contribute to the creation of a sustainable future and achieving climate action goals. DEI is an energy investment arm of Daiwa Securities Group, one of the largest security companies in Japan.

The Orrick team was led by a cross-border, bilingual Tokyo/U.S. team including Minako Wakabayashi, Neil Golden and Andrew Hughes and lead associate Iris Zhang, together with Scott Cockerham (Tax), Darrell Thomas (Real Estate), Adam Wenner (Regulatory), Cory Lankford (Regulatory) and Sue Cowell (Environmental).