December 5, 2022

Willkie recently represented energy storage business Caliche Development Partners II in its capital commitment transaction with Orion Infrastructure Capital and GCM Grosvenor and two related acquisitions.  

The first acquisition is of Golden Triangle Storage, a Texas gas storage business, from Southern Company. Willkie also advised Caliche on its agreement to acquire Central Valley Gas Storage, a California gas storage business, from Southern Company. The Central Value Gas Storage acquisition is subject to close upon certain regulatory approvals. The aggregate purchase price of the initial two acquisitions total $186 million, plus working capital and other adjustments. 

The Caliche platform is focused on expanding critical energy storage infrastructure for a range of customers across fuel types. 
The Willkie deal team was led by partner Archie Fallon and included partner Ryan Giggs, counsel Jason Nasra, and associates Emerson Girardeau and Zoe Sellman. The debt financing team was led by partner Andrew Thomison and included associate Matthew Vitorla.