Norton Rose Fulbright represents Perennial Power Holdings in renewable energy joint venture

A team of projects lawyers from Norton Rose Fulbright represented Perennial Power Holdings, Inc., a subsidiary of Sumitomo Corporation of Americas, in the formation of a joint venture with CEP Solar, LLC, a subsidiary of Commonwealth Energy Partners, to establish CEP PPH Partners, LLC, a developer of renewable energy projects with a focus on solar power generation and battery storage.

The company plans to develop more than 1.5 GW of solar power projects in an infrastructure hub and data center cluster in the Commonwealth of Virginia, with construction commencing in late 2025.

This investment is aligned with the Virginia Clean Economy Act of 2020, which aims to convert Virginia's electric grid to 100% clean energy by 2050. Virginia is a critical hub of the world's IT infrastructure, requiring extensive deployment of renewable energy resources to meet these net zero emissions targets.

Norton Rose Fulbright's deal team was led by Becky Diffen (Austin) and Erin Mitchell (Houston) with assistance from Quay Strozier (Washington, DC) and Justin Davenport (San Antonio). The team also included Lauren Shapiro Newberry (Austin), Christine Fernandez Owen, Kayce Kasten Borders, Theresa Carroll, Jenn Guzman, Nura Yanaki (Chicago), Gabrielle Jacques (New York), Hilary Lefko, Stefan Reisinger, Claire Huitt and Amelia Klitenic (Washington, DC).