Latham & Watkins Advises AB CarVal on US$700 Million Transaction Involving Clean Energy Platform Peregrine Energy Solutions

Latham & Watkins advised AB CarVal, an established global alternative investment manager, in its funds' US$700 million equity investment and debt financing for Peregrine Energy Solutions LLC, an integrated multi-technology clean energy platform with a focus on utility-scale energy storage. The transaction will allow Peregrine to fund Peregrine's pipeline of over seven gigawatts of high-quality projects, including standalone battery, solar, and wind technologies.

The Latham team was led by partners Justin Stolte and Edmond Parhami, with associates Ashley Nguyen, Greg Sorensen, Jase Burner, Gabi Hasson, and Cooper Shear. Advice was also provided on debt financing matters by counsel Bryce Kaufman and partner Trevor Wommack; on tax matters by partners Eli Katz and Eric Kamerman, with associate Andrea Herman; on employment matters by partner Adam Kestenbaum, with associate Dane Rebkowec; on energy regulatory matters by partner Natasha Gianvecchio, with associate Richard Griffin; on antitrust matters by partner Jason Cruise, and counsels Peter Todaro and Philipp Studt; on intellectual property matters by counsel Kieran Dickinson, with associate Kellye Quirk; on data privacy matters by counsel Robert Brown; on insurance matters by partner Drew Levin, with associate Hannah Cary; on real estate matters by partner Robert Frances and counsel Aaron Friberg, with associate David Rao; on project development matters by counsel Seth Richardson, with associates Kailash Gupta and Georgia Bellett; and on environmental matters by partner Joshua Marnitz, with associate Bruce Johnson.