Paul Hastings Advises Spearmint on $252 Million Battery Energy Storage Systems Financing

Paul Hastings LLP advised Spearmint Energy on a $252 million financing for two battery energy storage systems (BESS) located in Texas.

The financing package comprises construction-to-term notes purchased by Manulife, tax equity bridge loans provided by East West Bank and Investec, and tax equity commitments from Sugar Creek Capital. Both projects — the Tierra Seca BESS in Del Rio and the Seven Flags BESS in Laredo — will have an output of 100MW to 200MWh energy storage capacity.

Partners Luis F. Gomar, Jason H. Busch and Michael D. Haun led the Paul Hastings team, which also included partners David Avila and Alex Farr, of counsel Donna J. Bobbish and Gregory D. Jones, and associates Valeria Jose Ifarraguerri, Jose Pablo Salas, Justin Garcia, Vanessa Parada, Auburn Wise, Kevin St. George, Jayce Gates and John A. Hunt.    

More details can be found here.

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