Kirkland & Ellis announced on May 11 that it advised VoltaGrid on a $1 billion strategic equity investment from funds managed by Blackstone Tactical Opportunities and Halliburton Company. The deal includes a $775 million primary capital raise and a $225 million secondary transaction involving existing investors.
The proceeds from the capital raise will be used to accelerate the deployment of VoltaGrid’s behind-the-meter power generation solutions for data centers, microgrids, and industrial applications. This move is intended to support the company’s growth in providing power solutions across several sectors.
As part of this investment, VoltaGrid has entered into a definitive agreement to acquire Propell Technologies Group Inc., which serves as an important supplier for VoltaGrid. Both transactions are subject to customary closing conditions and are expected to close in mid-2026.
The Kirkland & Ellis team advising on the transaction included corporate lawyers Kevin Crews, Alex Robertson, Daley King, Nick Lewis, and Chandler Jones; capital markets lawyer Julian Seiguer; debt finance lawyers Lucas Spivey and Osaro Aifuwa; real assets lawyer Chad Smith; tax lawyers David Wheat and Joe Tobias; executive compensation lawyers Stephen Jacobson and Karsten Busby; environmental transactions lawyer Jon Kidwell; energy regulatory lawyer John Decker; and antitrust & competition lawyer Mike Thorpe.
These developments highlight ongoing activity in the power generation sector as companies seek new investments to expand their reach into emerging energy markets.
