Sidley represented Calibrant Energy (“Calibrant”), a Macquarie Asset Management portfolio company, in their acquisition of a 100% interest in Enel X Storage, LLC (“Enel DES”) from Enel X North America, Inc. (“Enel X North America”). Calibrant is dedicated to providing “energy-as-a-service” solutions to commercial, industrial, and MUSH (municipalities, universities, schools, and hospitals) customers. Both Calibrant and Enel DES originate, develop, own, and operate an array of distributed energy technologies, including battery storage (“BESS”), solar photovoltaics (“PVs”), microgrids, and electric transport infrastructure.
The acquisition of Enel DES significantly expands Calibrant’s development pipeline and portfolio of operating assets, bolstering the company’s ability to deliver cutting-edge clean energy solutions for commercial, industrial, and institutional customers. Enel DES’ current portfolio includes more than 330 MWh of BESS projects in operations or construction, including some of the largest behind-the-meter BESS projects in North America. Beyond its operating portfolio, Enel DES brings to Calibrant more than 700 MWh of distributed projects in late-stage development, as well as over 2 GWh of optimization service contracts which seek to increase competitiveness, improve energy spending, and reduce risks for third-party BESS projects.
The Sidley team was led by partner Greg Lavigne, and included support from counsel Chris Folmsbee, managing associates Marcela Varela, John David Thompson, and Divya Rao (all Energy and Infrastructure) and Karla Utset and Alexandra Rios (M&A). Additional support was provided by partners Zackary Pullin and Hagai Zaifman (Tax); Eric Winwood and Cathryn Le Regulski (Employmee Benefits and Executive Compensation); Terence Healey and Kenneth Irvin (Energy Regulatory); Sarah Tucker (Energy and Infrastructure); Glenn Nash (Technology and Life Sciences Transactions); and counsel Jamie Sadler (Antitrust and Competition).
