Kirkland & Ellis served as special tax counsel to Intersect Power, LLC, a clean energy company bringing innovative and scalable low-carbon solutions to its customers in global energy markets, on its Oberon Solar + Storage project, located in Riverside County, California. Commercial operation was announced on November 14, 2023. The Oberon project generates 679 MWp of reliable solar energy, enough to power over 207,000 homes a year, and features 250 MW/1 GWh of co-located storage.
The Oberon project aligns with the priorities of the Inflation Reduction Act by using American-made equipment and paying prevailing wages. It is also the first project to achieve operation through the streamlined approach under the Bureau of Land Management Desert Renewable Energy Conservation Plan. Energy, Renewable Energy Credits and Resource Adequacy generated by the Oberon project will be purchased by a combination of offtakers including Calpine Energy Solutions, Constellation, Ava Community Energy (formerly East Bay Community Energy), Microsoft and San Diego Community Power. Intersect secured funding for the project’s construction as part of the broader portfolio financing announced last September, when the company closed on portfolio level term debt, tax equity and construction financing commitments from leading financial institutions and investors.
The Kirkland tax team was led by partners Michael Masri and Sophia Han and associate Griffin Peeples.