Firm Advises Swell Energy on $120 Million Fundraise | Whuff News

On November 22, 2022, energy management and smart grid solutions provider Swell Energy announced that it has raised $120 million to support its work to develop 600 MWh of virtual power plants (VPP). SoftBank Vision Fund 2 and Greenbacker Development Opportunities Fund I, LP led the fundraising along with Ares Infrastructure Opportunities fund and Ontario Power Generation Pension Fund. Wilson Sonsini Rosati and Goodrich advised Swell.

Santa Monica, Calif.-based Swell plans to develop new energy through the deployment and integration of energy storage systems in 26,000 homes and businesses across the United States. VPPs provide grid service capabilities in Hawaii, California, and New York, enabling utilities to deliver clean energy and reduce dependence on fossil peaker plants.

Wilson Sonsini’s patent and translation team that advised Swell on the transaction includes Bob O’Connor, Mike Pestana, Viet Nguyen, Stephanie Nweke, Karen Becker, Joshua Gruenspecht, Scott Zimmermann, and Edward Kayukov.

For more information, please see Swell’s publications.

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