Orrick advised Intersect Power in the portfolio sale of five U.S. solar power plants with a combined capacity of 1.7 GW to development partner SB Energy, a subsidiary of SoftBank Group Corporation. SB Energy expects to begin construction in early 2020.
The five projects—Athos I and II in California and Aragorn, Juno and Titan in Texas—have also entered into contracts to sell the renewable energy and renewable energy certificates (REC) generated to various companies including Austin Energy, Direct Energy Business and the Lower Colorado River Authority (LCRA).
The Orrick team, led by John Cook, included Nicole Huang, Brandon Sanders, Tom Glascock and Steve Wagner. Additional assistance was provided by Bob Lawrence, Harry Clark, Michael Masri, Sophia Han, Adam Wenner and Cory Lankford.