Norton Rose Fulbright represents Eolian in Texas battery storage project financings

Global law firm Norton Rose Fulbright advised energy development and investment company Eolian, L.P. (Eolian) in connection with the US$463 million debt financing package for the 400-MW Padua Complex in Bexar County, Texas. Arranged by Natixis Corporate & Investment Banking (Natixis CIB), the financing will support the construction of Padua 2 and Padua 3.

The new facilities share a site with Padua 1, on which the firm previously represented Eolian, as borrower, in relation to a US$21.6 million term loan financing. The 50-MW Padua 1 began operations in July.

The Padua Complex is slated to be the largest battery storage development in the state when complete. Padua 2, which has a storage capacity of 150-MW, and Padua 3, which has a 200-MW capacity, are expected to be online in the first half of 2026.

The Padua Complex is expected to help serve the San Antonio community for a 20-year period, delivering reliable and clean energy solutions to meet the needs of the region's growing population.

Norton Rose Fulbright's deal teams were led by David Burton (New York) and Jim Berger (Los Angeles) and included lawyers from across the country.

The Padua 1 team included Justin Lee (Los Angeles).

The Padua 2 team featured Sharon Jeong (Los Angeles), Luke Edney, Jerry Converse, Tamsen Marklund (Austin), Jeremiah Wright, Christine Fernandez Owen (Chicago), Bob Greenslade (Denver), Jeremy Tripp, Timothy Shinn, Janet McQuaid, Ibrahim Basit, Caileen Gamache, Harriet Amelia Wessel (Houston), Scott Burton, Katherine Agapitos, Justin Lee, Dylan Gera (Los Angeles), Marian Baldwin Fuerst, Richard Wright, Eric Daucher, Gabrielle Jacques, Mark Highman, Adrienne Sebring, Megan Musachio (New York), Vanessa Ishimwe, Robert Shapiro, Stefan Reisinger, Hilary Lefko, Keith Martin, Keith Rosen and Maeve Tibbetts (Washington, DC).

The Padua 3 team included Sharon Jeong, Jerry Converse, Tamsen Marklund (Austin), Christine Fernandez Owen, Jeremiah Wright (Chicago), Harriet Amelia Wessel, Janet McQuaid, Caileen Gamache, Ibrahim Basit (Houston), Scott Burton, Justin Lee (Los Angeles), Simon Silverberg, Richard Wright, Marian Baldwin Fuerst, Mark Highman, Megan Musachio (New York), Keith Martin, Vanessa Ishimwe, Toni Alvarez, Stefan Reisinger, Keith Rosen, Maeve Tibbetts, Claire Huitt and Hilary Lefko (Washington, DC).