Kirkland & Ellis Advised CyrusOne On JV With Energy Capital Partners And Power Agreement With Calpine

Kirkland & Ellis advised CyrusOne on JV with Energy Capital Partners and power agreement with Calpine

The leading international law firm Kirkland & Ellis advised CyrusOne, a global data center developer and operator backed by GIP and KKR, on its joint venture with Energy Capital Partners (ECP) to develop a new 190 MW hyperscale data center campus in Bosque County, Texas. ECP is one of the largest private owners of power generation and renewables in the U.S. Kirkland also advised CyrusOne on a long-term contract with Calpine to supply dedicated power to the campus — marking a first-of-its-kind dedicated power agreement with a hyperscaler anchor tenant.

The campus, which will be built adjacent to Calpine Corp.’s Thad Hill Energy Center, is expected to represent a total investment of approximately $4 billion, positioning it among the largest AI infrastructure developments in the Dallas–Fort Worth region. The project benefits from Calpine’s reliable natural gas generation, providing enhanced energy security and resilience for hyperscale operations.

The Kirkland & Ellis team advising on the joint venture included Melissa Kalka, John Pitts, Daley King and Allan Kirk (Corporate); Mary Kogut (Debt Finance); Kim McGrath and Cody Sonntag (Real Estate); Drew Stuyvenberg (Energy Regulatory); and Steve Butler (Tax). The team advising on the power agreement included Drew Stuyvenberg, Erin Bartlett and Cassidy Hall (Energy Regulatory); Cody Sonntag and Kim McGrath (Real Estate); Melissa Kalka (Corporate); and Steve Butler (Tax).

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