K&L Gates Advises Kyuden in its Investment in Spearmint Energy Regarding Two Battery Energy Storage Projects

Global law firm K&L Gates LLP advised Kyuden International Corporation, a subsidiary of one of the larger electricity companies in Japan focusing on global energy solutions, in a deal with Spearmint Energy, an energy company that brings cost-effective solutions to the power grid with large scale battery storage. With the deal, Spearmint Energy has closed an equity investment in Tierra Seca and Seven Flags, two 100 MW / 200 MWh Battery Energy Storage Systems (BESS) located in Del Rio and Laredo, respectively.

The investment in Tierra Seca and Seven Flags represents Kyuden’s first venture into US-based BESS, following its previous investments in a solar power generation portfolio and four combined cycle gas turbine power plants.

The K&L Gates team was led by New York partner Toshi Yoshida with support from Austin partner Maria Faconti, Brussels partner Francesco Carloni, Harrisburg partner Tad Macfarlan, Nashville partner Ryan Lee, Washington, DC partners Steven Hill, Vishal Mehta, and Marty Pugh, and Kansas City partners John Crossley, Kaitlyn DeYoung, and Brogan Sullivan. Portland of counsel William Holmes, Kansas City associates Jenny Bartos, Andrew Stephens, and Kate White, New York associate Jane Steffens, and Harrisburg associate Sam Boden also advised on the matter.

Yoshida stated: “It is our honor and privilege to be of assistance to Kyuden’s expansion of renewables business in the US. Kyuden’s established electric power experiences in Japan would certainly benefit Spearmint as they jointly pursue renewables power supply in the US market.”

Daisuke Nakai, General Manager, Americas Business Development Unit for Kyuden International, commented: “With deep knowledge in renewables, the K&L Gates team effectively navigated us through our first acquisition of battery storage projects in the US.”