Orrick advised Equinor on an agreement to acquire a 100% stake in the U.S.-based privately owned battery storage developer East Point Energy. Their assets include a 4.1 GW current pipeline of early to mid-stage battery storage projects focused on the U.S. East Coast, with potential for further growth identified beyond the current pipeline. The transaction agreements were signed on July 9, 2022, and upon closing in Q3 2022, East Point Energy will become a wholly owned subsidiary of Equinor.
Additional information is available in Equinor's announcement.
The Orrick team advising Equinor was led by Kristin Seeger and also included Joe Roger, Scott Cockerham, Jeanine McGuinness, Jason Flaherty, Cory Lankford, Sue Cowell, Stephan Wagner and Molly Jergenson.