Intersect Power Transaction Wins Energy Risk Awards' Deal of the Year
1 minute read | June.16.2025
Congratulations to Intersect Power on winning Deal of the Year at the Energy Risk Awards. Orrick advised Intersect on the transactions to finance and develop three standalone Battery Energy Storage Systems in Texas, as well as on revenue share and revenue hedge arrangements for the projects.
The financings, which includes portfolio-level construction debt, tax equity and term debt, represents one of the largest U.S. battery storage transactions to date. The three BESS systems each will provide a capacity of 320 MWh of battery storage with a two-hour duration. The batteries enhance the flexibility of Intersect's Texas operating fleet, supporting 1.2 GWp of solar power with 1 GWh of battery storage capacity.
The Orrick team advising Intersect Power was led by Adam Griffin (debt) and Amy Padgett (tax equity), and included Devin Canavan, Molly Jergenson, Lauren Estell and Liz Goldstein.
Others Orrick lawyers who worked on the transactions include John Eliason, Cory Lankford, Darrell Thomas, Giji John, Kelly Choo, Nik Mathews, Jonas Robison, Braxton Roam, Mae Ji and Zachary Huey.