SINGAPORE and TOKYO – May 30, 2024 – Global law firm Greenberg Traurig, LLP has advised a collaborative platform sponsored by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and CHC, a Singapore-headquartered battery energy storage system (BESS) developer, on its participation in the Japanese government’s inaugural long-term decarbonization power source auction. Pursuant to their recent bid, Stonepeak and CHC have been awarded 20-year fixed revenue contracts for four BESS projects by the Organization for Cross-regional Coordination of Transmission Operators.
The platform aims to advance the development, construction, and operation of BESS projects to accelerate Japan’s power industry decarbonization. With its initial goal of achieving one gigawatt of BESS projects in Japan within five years, the platform is dedicated to supporting the Japanese government’s energy transition objectives.
The Greenberg Traurig team advising the platform comprised its Asia Energy & Natural Resources and JapaneseReal Estate practices. The team was led by Joseph Kim, head of the firm’s Asia Energy & Infrastructure Practice, and Shareholders Yuko Ino and Jared Raleigh. Additional members of the deal included Mori Inada, Koh Ueda, Jerry Carter, Ebe Yoshiyuki, Motohiro Matsumura, Sayaka Ishimoto, Stephanie Sijie Li, Shuhei Mikiya, and Sari Sakurai.
About Greenberg Traurig’s Energy & Natural Resources Practice: Greenberg Traurig’s Energy & Natural Resources Practice has broad transactional, regulatory, and litigation experience across the energy industry, including oil and gas, LNG, electricity, coal, wind, solar and other renewable energy sources, and water. The firm’s exceptional multi-office platform, including key offices in major energy centers, enables us to serve and implement legal strategies for energy clients throughout the U.S. and internationally.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2750 attorneys in 47 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 6.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.