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4.17.26
Wilson Sonsini Advises Zanskar on Close of $40 Million in Novel Development Capital Financing
On April 16, 2026, Zanskar, the first AI-native geothermal energy company, announced the closing of $40 million in a Development Capital Facility. Wilson Sonsini Goodrich & Rosati advised Zanskar on the transaction, which is among the first ever structured for early-stage geothermal development. The financing was co-led by Just Climate and Spring Lane Capital, with additional capital committed by Tierra Adentro Growth Capital.
The Development Capital Facility draws on best practices from the renewables and natural resource sectors, establishing a revolving development credit facility designed to accelerate project development across Zanskar’s growing portfolio. The non-recourse facility covers key pre-construction activities, bridging projects to traditional bank project financing, and is structured to upsize to $100 million as Zanskar’s portfolio scales.
The financing transaction strengthens Zanskar’s ability to commercialize its pipeline of naturally occurring geothermal systems and sets a scalable financing precedent for greenfield geothermal as a recognized asset class across the United States.
The Wilson Sonsini team that advised Zanskar on the transaction included Scott Zimmermann, Jason Slagle, Nicole Gambino, Bob O’Connor, Jordana Palgon, and Jenae Sharp.
The Development Capital Facility draws on best practices from the renewables and natural resource sectors, establishing a revolving development credit facility designed to accelerate project development across Zanskar’s growing portfolio. The non-recourse facility covers key pre-construction activities, bridging projects to traditional bank project financing, and is structured to upsize to $100 million as Zanskar’s portfolio scales.
The financing transaction strengthens Zanskar’s ability to commercialize its pipeline of naturally occurring geothermal systems and sets a scalable financing precedent for greenfield geothermal as a recognized asset class across the United States.
The Wilson Sonsini team that advised Zanskar on the transaction included Scott Zimmermann, Jason Slagle, Nicole Gambino, Bob O’Connor, Jordana Palgon, and Jenae Sharp.
Press Releases
11.17.25
Wilson Sonsini Goodrich & Rosati Elects 12 Attorneys to Partner
PALO ALTO, CA (November 17, 2025)—Wilson Sonsini Goodrich & Rosati, the premier provider of legal services to technology, life sciences, and growth enterprises worldwide, today announced the election of 12 new partners from within the firm’s attorney ranks. The promotions will take effect on February 1, 2026.
Client Highlights
10.08.25
Firm Advises Clearway on Acquisitions of Catalina Solar Facility and Deriva Energy’s Solar Portfolio
On October 6, 2025, Clearway Energy, Inc., one of the largest owners of clean energy generation assets in the U.S., announced that it has entered into a binding agreement to acquire a 613MWac portfolio of operating solar assets from Deriva Energy spanning eight states. Clearway also recently announced its acquisition of the 109 MW Catalina Solar facility in Kern County, California. Wilson Sonsini Goodrich & Rosati advised Clearway on the transactions.
Client Highlights
9.09.25
Firm Advises Ambient Fuels on Acquisition by Electric Hydrogen
On September 8, 2025, Electric Hydrogen, a U.S. manufacturer of advanced electrolyzers, announced it has acquired Ambient Fuels, a leading hydrogen project developer. Adding Ambient Fuels’ deep development expertise and portfolio of U.S. project sites will expand Electric Hydrogen’s ability to partner with customers on co-development of hydrogen projects and provide dedicated capital resources where appropriate. As part of the transaction, Electric Hydrogen also entered into a strategic relationship with Generate Capital, a leading infrastructure investment platform and former investor in Ambient Fuels, to offer up to $400 million in hydrogen project finance solutions around the globe. Wilson Sonsini Goodrich & Rosati advised Ambient Fuels in the transaction.
Client Highlights
1.30.25
Firm Advises On.Energy on $77.6 Million Construction Credit Agreement with Pathward, BridgePeak
On January 28, 2025, On.Energy, a fully-integrated energy storage developer, technology company, and asset manager, announced the close of construction credit facilities provided by Pathward and BridgePeak Energy Capital to build its 160 MWh Palo de Agua battery storage portfolio across the state of Texas. Wilson Sonsini Goodrich & Rosati advised On.Energy on the transaction.
Client Highlights
7.17.24
Wilson Sonsini Advises Cloverleaf on $300 Million Capital Raise
On July 17, 2024, Cloverleaf Infrastructure, a recently formed developer of large-scale digital infrastructure sites powered by low-carbon electricity, announced that it has secured capital commitments totaling over $300 million from private equity investors NGP and Sandbrook Capital, alongside contributions from its management team. The power infrastructure company will use the capital to develop a new generation of large-scale clean-powered data center sites across the U.S. Wilson Sonsini Goodrich & Rosati advised Cloverleaf in its private equity transaction with NGP and Sandbrook.
Client Highlights
4.30.24
Wilson Sonsini Advises On.Energy on $25 Million Working Capital Facility
On April 25, 2024, On.Energy, a fully integrated energy storage solutions provider and Independent Power Producer (IPP), announced the closing of a $25 million senior secured first lien facility with Lombard Odier Investment Managers (LOIM) on behalf of funds under its management, including the LOIM Sustainable Private Credit Strategy. Wilson Sonsini Goodrich & Rosati advised On.Energy on the transaction.
Client Highlights
1.03.24
Wilson Sonsini Advises On.Energy on $40 Million Financing
On December 20, 2023, On.Energy, an end-to-end integrator of battery energy storage and Independent Power Producer (IPP), announced it has closed both construction facility totaling more than $40 million and permanent debt facilities for an 80 megawatt-hour (MWh) portfolio in Texas (the Palo Verde Projects) with financing provided by Live Oak Bank. Wilson Sonsini Goodrich and Rosati represented On.Energy on the transaction.
The project also integrates an investment tax credit (ITC) transfer—among the first of its kind for merchant battery storage projects. The portfolio includes both greenfield development sites as well as projects acquired through M&A in mid-2023. The company continues to advance a pipeline of over 1GWh of utility-scale energy storage systems across ERCOT, CAISO, and beyond, with a follow-on portfolio of projects of 160MWh expected to begin operation by Q3 2025.
The project also integrates an investment tax credit (ITC) transfer—among the first of its kind for merchant battery storage projects. The portfolio includes both greenfield development sites as well as projects acquired through M&A in mid-2023. The company continues to advance a pipeline of over 1GWh of utility-scale energy storage systems across ERCOT, CAISO, and beyond, with a follow-on portfolio of projects of 160MWh expected to begin operation by Q3 2025.
Client Highlights
6.14.23
Wilson Sonsini Advises On.Energy on $20 Million Financing
On June 13, 2023, On.Energy, a prominent end-to-end integrator of battery energy storage and an Independent Power Producer (IPP), announced it raised $20 million in equity financing in a Series B round led by Philadelphia-based investment firm Ultra Capital. New York-based venture capital firm Phalanx Investment Partners also participated in the round. Wilson Sonsini Goodrich & Rosati served as On.Energy’s counsel in the transaction.
Client Highlights
5.18.23
Wilson Sonsini Advises Ambient Fuels on Investment from Generate Capital
On May 17, 2023, Generate Capital, a leading sustainable infrastructure investment and operating company, announced it made an investment in Ambient Fuels, a pioneering developer that builds green hydrogen projects to support the decarbonization of heavy industries and transportation. The company’s technology-agnostic approach works with any renewable energy source to support decarbonization at scale. With experience across both conventional and renewable energy as well as industrial and chemical processes, the Ambient Fuels team offers deep development and technical expertise. The agreement between Generate Capital and Ambient Fuels includes a commitment to fund up to $250 million of green hydrogen infrastructure.
Client Highlights
4.20.23
Wilson Sonsini Advises Ebb Carbon on $20 Million Series A
On April 20, 2023, Ebb Carbon, an ocean-based carbon dioxide removal (CDR) company founded by former Tesla, SolarCity, and Google X executives, announced that it has raised a $20 million Series A to develop and deploy its technology, which enhances and speeds the ocean’s natural ability to capture and permanently store CO2 from the atmosphere. The $20 million Series A was raised across two closes, led by Prelude Ventures and Evok Innovations, respectively. The second close was completed at an increased valuation at the end of March 2023. This adds to a previous seed funding round of $3 million, bringing the total raised to date to $23 million. Other investors in Ebb include Congruent, Grantham, and Incite. Wilson Sonsini Goodrich & Rosati advised Ebb Carbon on the transaction.
The $20 million Series A fundraise marks the largest investment to date in an ocean-based carbon dioxide removal technology. With this funding, Ebb will begin to deploy its first systems–one with the capacity to remove 100 tons of CO2 later in 2023, and a 1,000-capacity system shortly thereafter.
The Wilson Sonsini team who advised Ebb on the transaction includes Scott Zimmermann, Jason Slagle, Karli McConnell, Angela Chan, and Kristy Strohm.
The $20 million Series A fundraise marks the largest investment to date in an ocean-based carbon dioxide removal technology. With this funding, Ebb will begin to deploy its first systems–one with the capacity to remove 100 tons of CO2 later in 2023, and a 1,000-capacity system shortly thereafter.
The Wilson Sonsini team who advised Ebb on the transaction includes Scott Zimmermann, Jason Slagle, Karli McConnell, Angela Chan, and Kristy Strohm.
Client Highlights
4.18.23
Wilson Sonsini Advises Spring Lane Capital on $31 Million Fundraise for Spring Free EV
On April 6, 2023, Spring Free EV, a financial technology company accelerating the adoption of electric vehicles (EVs) through innovative fintech products, announced the completion of a $31 million fundraise that includes a debt facility and a Series A equity investment led by Spring Lane Capital, a $400 million private equity firm focused on providing hybrid capital for sustainable solutions in the energy, food, water, waste, and transportation industries. The financing will enable Spring Free EV to double the number of EVs it has already put on the road by the end of 2023, with the expectation of scaling to tens of thousands of vehicles on the road by 2025. In addition, at full-scale operation, the company expects to cut the upfront costs of utilizing EVs by more than half the current amount.