Kirkland Advises Captona on Preferred Equity Transaction for 1 GWh Energy Storage Portfolio in Texas
Kirkland & Ellis advised Captona, a diversified energy transition investment firm, and its equity partner on a preferred equity transaction in three standalone, utility-scale Battery Energy Storage Systems that will deliver nearly 1 GWh of energy across the state of Texas. The projects, which are currently under construction, were developed by esVolta, LP, a leading developer, owner and operator of utility-scale energy storage projects and a portfolio company of Generate Capital. Captona developed the financial structure and deployed capital from its equity partner for the investment. The investment follows a year of significant growth for Captona, which is now approaching $3 billion in enterprise value.
The Kirkland team included corporate lawyers Allan Kirk and Marissa Kinsey; tax lawyer Sam Kamyans; and debt finance lawyer Rob Eberhardt.
