White & Case Advises Atlas Renewable Energy on the Development and Financing of its First Battery Storage Project

Global law firm White & Case LLP has advised Atlas Renewable Energy, a leading international renewable power company, on the development and financing of its first battery storage project.

The project, known as "BESS del Desierto" is located in Chile and will have an installed capacity of 200 MWs at four hours and 800 MWh of aggregate storage capacity. This is one of Chile's first large-scale battery storage projects.

The White & Case team worked on a number of aspects of the project, including having helped develop novel equipment supply, construction, operation and maintenance arrangements. The financing package for the project comprised bridge financing and long-term loan and other credit facilities for an aggregate principal of approximately US$289 million, provided by BNP Paribas and Crédit Agricole Corporate and Investment Bank.

"We are delighted to have helped our long-standing client on this important transaction," said White & Case partner Thomas Pate, who led the Firm's project financing for the matter. "Once complete, the project is expected to support Chile's energy matrix and alleviate some of the pressures on the country's transmission system."

White & Case partner Raffaele Turco, who led the Firm's project development work added: "We are thrilled to have had the unique opportunity to develop some of Chile's first large scale battery supply and maintenance agreements and have subsequently gained important insights for the Chilean and wider Latin American market as a result."

The White & Case team was led by Project Development and Finance partners Thomas Pate and Raffaele Turco, and Capital Markets partner Ian Cuillerier (all in New York). The team also included Project Development and Finance associates Jessica Webb, Helena Buitrago (both in New York), Mae Espinosa, Ana Arias (both in Miami) and Adrian Leal (Houston); and Capital Markets associate Zhou Bo Chen (New York). Law clerk Clarissa Lotson also assisted on the matter.

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