Press Release

Kirkland Advises Chestnut Carbon On Multi-Year Offtake Agreement to Provide Microsoft with Carbon Removal

Kirkland & Ellis advised Chestnut Carbon on a multi-year offtake agreement to provide Microsoft with high-quality, nature-based carbon removal derived entirely from a novel afforestation project based in the United States. Chestnut Carbon is a nature-based carbon removal developer founded by private investment firm Kimmeridge Energy Management Company, LLC. Through a first-of-its-kind 15-year offtake agreement for nature-based credits, Chestnut will deliver 362,000 tons of projected carbon removal from its Sustainable Restoration Project Phase I and up to 2.7 million tons in aggregate across subsequent phases. The transaction was announced on December 20, 2023.

Read the transaction press release

The Kirkland team was led by corporate partners Shubi Arora and Will Eiland and associate Jarrod Gamble; environmental partner Jim Dolphin; and debt finance partner Lucas Spivey.