Kirkland & Ellis advised Hatch Renewables, a portfolio company of Ridgemont Equity Partners, on a partnership with Equilibrium Energy to manage utility-scale battery storage by pursuing tolling agreements with developers that have operating assets or projects with near-term commercial operation dates. Hatch and Equilibrium have been working closely together over the past year to formalize the partnership and screen an initial set of tolling opportunities in ERCOT. Hatch Renewables was formed in 2022 and is focused on growing the clean energy economy by investing in transition projects and assets. Some of the initial strategies Hatch is pursuing include utility-scale battery development and tolling opportunities and the acquisition of renewable royalties.
The Kirkland team was led by corporate partners John Kaercher and Chris Heasley and associate Evan Chavez; and also included energy regulatory partner Marcia Hook and associate Cassidy Hall; tax partner Mark Dundon; debt finance partner Lucas Spivey and associate Brittany Taylor; and derivatives partner Drue Santora.