Paul Hastings Advised Spearmint Energy on $92 Million Tax Equity Financing for Battery Energy Storage Project in ERCOT
Paul Hastings LLP advised Spearmint Energy, a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, in connection with the company’s $92 million tax equity investment in the Revolution Project - a 150 MW, 300 MWh battery energy storage facility in West Texas. The project is one of the first applications of the Investment Tax Credit structure for a standalone battery energy storage system following the passage of the Inflation Reduction Act.
Partners Luis F. Gomar and Michael D. Haun led the Paul Hastings team, which also included partners Lucas M. Rachuba and Jason H. Busch and associates Kami LaBerge, Bethany Hickey, Jose Pablo Salas, Elena Rodriquez, and Justin Orr.
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