Norton Rose Fulbright represents Matrix Renewables USA in purchase of Gaskell West Project

United States Press release - Business April 13, 2022

Norton Rose Fulbright represented Matrix Renewables in an agreement to acquire the 105 MWac solar plus 80 MWh energy storage Gaskell West 2 and 3 project from Canadian Solar Inc. (Canadian Solar) through its wholly-owned subsidiary Recurrent Energy, LLC (Recurrent).

The Gaskell West 2 and 3 project is located in Kern County, California and is fully contracted, holding five long-term power purchase agreements with cities and utilities in California. The solar plus storage project will generate enough clean and low-cost electricity to power approximately 16,800 California homes and displace approximately 178,500 metric tons of carbon emissions each year.

Canadian Solar's majority-owned subsidiary CSI Solar will support the project by providing the turnkey battery storage solution for the 80 MWh storage part of the project. The integrated technology solution includes the supply, installation and commission of a lithium iron phosphate-based battery system. In addition, CSI Solar will support the battery storage system with capacity and performance guarantees, ensuring system output, safety and reliability.

This hybrid project marks the first transaction between Matrix Renewables and Recurrent.

Norton Rose Fulbright's deal team consisted of Becky Diffen (Austin), Raquel Bierzwinsky (New York), Megan Savage (Houston) and Shaileen Berlas (New York).

Additional support was provided by Keith Martin and Sol Kwon (Washington, DC) for tax, Caileen "Kat" Gamache (Houston), Christopher Psihoules (Washington, DC) and Randi Rymut (Houston) for energy regulatory, Bob Greenslade (Denver) for environmental, Jarret Stephens (New York), Josh Morton (Houston) and Eli Gaylor (Austin) for real estate, and Luke Edney (Houston), Jeremy Tripp (Houston), Lindsey Swiger (Houston), Torie Berkowitz (Austin) and Delanah Davis (Houston) for EPC, procurement and operations.