Global law firm Baker McKenzie is advising Advanced Clean Energy Storage I, LLC, along with Mitsubishi Power Americas, Inc., Magnum Development, LLC and Haddington Ventures, LLC in the US Department of Energy’s conditional commitment for approximately $500 million of debt financing for the Advanced Clean Energy Storage Project, which is expected to be the world’s largest renewable energy hub to produce, store and deliver green hydrogen to the Western United States.
This conditional funding commitment signifies the latest development milestone for the Project. The industry-leading Advanced Clean Energy Storage hydrogen hub, located in Delta, Utah, was announced in May 2019 and is expected to provide 300 gigawatt-hours of clean energy storage.
ACES Delta is a joint venture between Mitsubishi Power Americas and Magnum Development. Haddington Ventures, LLC is the financial advisor for the hub and equity sponsor of Magnum Development.
Baker McKenzie Partners James O’Brien, Mark Tibberts, Matt Martin, Stanislav Sirot and Heiko Burow are advising on the financing.
Baker McKenzie is at the forefront of market-leading deals in the renewable energy and clean technology sector. Our multidisciplinary global team helps energy producers, investors and users forge their energy transition journey in an increasingly complex regulatory environment, enabling them to transform powerfully. Baker McKenzie's Global Projects Practice has extensive projects and natural resources experience, with more specialized lawyers in more places in the world than any other law firm. With more than 75 offices across 45+ countries in the Americas, Europe, Middle East, Africa and Asia, we have over 200 projects lawyers in our clients' most important locations, including key financial centers and market-leading teams in emerging jurisdictions. We help our clients from the beginning to the end of the life cycle of their most important transactional and development matters, including to structure, assess, develop, finance, sell and purchase a range of projects.
This conditional funding commitment signifies the latest development milestone for the Project. The industry-leading Advanced Clean Energy Storage hydrogen hub, located in Delta, Utah, was announced in May 2019 and is expected to provide 300 gigawatt-hours of clean energy storage.
ACES Delta is a joint venture between Mitsubishi Power Americas and Magnum Development. Haddington Ventures, LLC is the financial advisor for the hub and equity sponsor of Magnum Development.
Baker McKenzie Partners James O’Brien, Mark Tibberts, Matt Martin, Stanislav Sirot and Heiko Burow are advising on the financing.
Baker McKenzie is at the forefront of market-leading deals in the renewable energy and clean technology sector. Our multidisciplinary global team helps energy producers, investors and users forge their energy transition journey in an increasingly complex regulatory environment, enabling them to transform powerfully. Baker McKenzie's Global Projects Practice has extensive projects and natural resources experience, with more specialized lawyers in more places in the world than any other law firm. With more than 75 offices across 45+ countries in the Americas, Europe, Middle East, Africa and Asia, we have over 200 projects lawyers in our clients' most important locations, including key financial centers and market-leading teams in emerging jurisdictions. We help our clients from the beginning to the end of the life cycle of their most important transactional and development matters, including to structure, assess, develop, finance, sell and purchase a range of projects.
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