Simpson Thacher advised Cerberus Capital Management as owner of Frontier Power USA ("FPUSA") in connection with the signing of a transaction to acquire a 480 MWh portfolio of battery energy storage system development projects from Bimergen Energy Corporation. The portfolio comprises three ERCOT-based projects, including two “Texas 10” projects and a 100 MW / 400 MWh project with Notices-to-Proceed expected to begin in the middle of 2026. Subject to certain closing conditions, this transaction will represent the first acquisition completed with respect to FPUSA’s exclusive project pipeline and will mark the initial deployment under FPUSA’s previously announced 2 GWh capacity reservation agreement with Eos Energy Enterprises, Inc.
FPUSA is the first development and investment company in the long-duration energy storage industry to integrate development, committed manufacturing capacity, institutional capital, and insured performance to accelerate the deployment of utility-scale battery infrastructure across the United States.
The Simpson Thacher team includes Kyle Smit, Javad Asghari, David Bumgardner, Eric Zhi, Chris Chiavaroli, Adam Petno and Hayden Stoeber (Energy & Infrastructure); Lia Toback, Hui Lin and Ryan Poché (Capital Markets); Dennis Loiacono (Real Estate); Adam Arikat and Adriana De Bartolo (Tax); and Caroline Geiger and Kate Mirino (Intellectual Property).