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Bracewell Advises Rockland Capital in the Sale of Rockland Power Partners, LP’s Flywheel Energy Storage Business to Convergent Spindle and RGA Investments

HOUSTON – Bracewell LLP represented Rockland Capital, LLC in two transactions involving the sale of Rockland Power Partners, LP’s flywheel energy storage business.

In the first transaction, Rockland Power Partners, LP sold two 20 MW flywheel energy storage projects, the Stephentown project located in Stephentown, New York and the Hazle project located in Hazle Township, Pennsylvania, to affiliates of Convergent Energy and Power, LP. The projects, which have been operational since 2011 and 2014 respectively, will continue to operate and serve the New York Independent System Operator (NYISO) and PJM Interconnection grids.

In the second transaction, Rockland Power Partners, LP sold 100 percent of the equity interests in Beacon Power, LLC, which operates a flywheel energy storage business and owns certain technology, intellectual property, patents and manufacturing equipment related thereto, to RGA Investments, LLC.

Both transactions closed on April 27, 2018.

Bracewell attorneys involved in this matter included:

Partners: Ryan S. Holcomb, Catherine P. McCarthy and Elizabeth L. McGinley

Of Counsel: R. Joe Hull

Counsel: David J. Harty

Associates: Sidney Troy Nuñez and Ryan Davis