December 21, 2023
Willkie advised Caliche in the acquisition of 100% of the issued and outstanding membership interests of Central Valley Gas Storage, L.L.C., a natural gas storage complex located north of Sacramento, California, from Nicor Energy Ventures Company, an affiliate of Southern Company Gas.
This acquisition, together with the November 2022 acquisition of Golden Triangle Storage, Inc. from Southern Company Gas, has a combined value of approximately $186 million. The acquisitions, funded in part by capital commitments from Orion Infrastructure Capital and GCM Grosvenor, position Caliche to expand into hydrogen storage in two regions with increasing demand for storage to support variable power loads, natural gas liquefaction, and high penetrations of renewable resources.
Caliche is a Houston-based company focused on the acquisition, development, construction, ownership and operation of underground storage assets and associated pipelines in North America, with a primary focus on the U.S. Gulf Coast.
The Willkie team was led by partner Archie Fallon and included partner Andrew Thomison, counsel Emerson Girardeau, and associate Zoe Sellman.
This acquisition, together with the November 2022 acquisition of Golden Triangle Storage, Inc. from Southern Company Gas, has a combined value of approximately $186 million. The acquisitions, funded in part by capital commitments from Orion Infrastructure Capital and GCM Grosvenor, position Caliche to expand into hydrogen storage in two regions with increasing demand for storage to support variable power loads, natural gas liquefaction, and high penetrations of renewable resources.
Caliche is a Houston-based company focused on the acquisition, development, construction, ownership and operation of underground storage assets and associated pipelines in North America, with a primary focus on the U.S. Gulf Coast.
The Willkie team was led by partner Archie Fallon and included partner Andrew Thomison, counsel Emerson Girardeau, and associate Zoe Sellman.
