Daiwa Energy & Infrastructure Makes First Italian Investment with BESS Acquisition

Daiwa Energy & Infrastructure Co., Ltd. (DEI) has made a significant strategic move by acquiring a 49% equity interest in two major battery energy storage system (BESS) projects with a total capacity of 380 MW. These projects, developed and under the auspices of Enfinity Global Inc., are located in the U.S. and Italy, marking DEI’s inaugural investment in the Italian market. The Houston-based project in the ERCOT zone has a 250 MW capacity, while the Veneto region in Italy hosts a 130 MW project. Both projects are projected to commence operations by 2027 and will operate for more than 20 years, aligning with DEI's sustainability goals. Orrick, Herrington & Sutcliffe served as legal counsel for DEI, facilitating due diligence, and aiding in the drafting and negotiation of critical investment and joint venture documentation. Orrick continues to be a supportive partner in DEI’s efforts to advance towards a carbon-neutral future, both in Japan and globally. This transaction highlights Orrick’s ongoing role in facilitating DEI's investments in sustainable infrastructure projects, expanding their geographical footprint.