DLA Piper represented CIT Bank, Sumitomo Mitsui Banking Corporation, Coöperatieve Rabobank U.A., New York Branch and ING Capital LLC in a third round of financing for the continuing expansion and development of a fleet of battery energy storage systems in Southern California for Macquarie Capital (USA) Inc. and affiliates, bringing combined CIT-led debt financings for the projects to more than US$160 million.

The total financing supports construction of a combined 63 megawatt / 340 megawatt-hour portfolio of innovative, behind-the-meter battery storage systems located across 89 different sites for 28 different host customers in grid-constrained pockets of the West Los Angeles Basin service territory. Taken together, the battery storage installed in this portfolio will constitute one of the largest "virtual power plants" of its kind in operation. The projects will help facilitate greater use of renewable energy in Southern California, in part by reducing the need to use fossil fuel-generated peaking plants.

The DLA Piper team was led by partners Timothy Moran (Washington, DC), Philip Corsello (New York) and Vanessa Wilson (Washington, DC) and included partner Andrea Chambers (Washington, DC); of counsel Sameer Ghaznavi (Chicago); and associate Christopher Pearson (Washington, DC).