Norton Rose Fulbright advises Bimergen on ERCOT battery storage portfolio deal

Global law firm Norton Rose Fulbright advised Bimergen Energy Corporation (Bimergen) on the transfer of a 480-MWh portfolio of battery energy storage systems (BESS) that are currently under development to an affiliate of Frontier Power USA, a long-duration energy storage developer and investor. The transaction closed on May 21, 2026.

The portfolio consists of three projects in ERCOT, including two "Texas 10" projects and a 100-MW/400-MWh project. Construction of all three projects is expected to start in mid-2026.

Under the agreement, an FPUSA affiliate will fund 100 percent of the equity required for construction, pay Bimergen a development fee and cover transaction costs. FPUSA will hold a 92.5 percent ownership interest, with Bimergen retaining a 7.5 percent stake.

Norton Rose Fulbright's team was led by Thomas Verity (Houston) and Allie Hemmings (Austin), and included tax support by Keith Martin (Washington, DC) and Ori Noiman (Denver) as well as real estate support by Lauren Shapiro Newberry (Austin). Our projects group has been working more than 50 years in the US power sector and is one of the leading such practice groups in the country.