Simpson Thacher advised Riverstone Credit Partners and Summit Partners Credit Advisors in connection with the launch of R3 Renewables LLC (“R3”), a renewable energy development company, in a joint venture with Peabody (NYSE: BTU). Through R3 and its subsidiaries, the parties intend to pursue the development of over 3.3 GW of solar PV and 1.6 GW of battery storage capacity over the next five years.~~Peabody is a leading coal producer in the United States, which provides essential products for the production of energy and steel. R3 will initially be engaged in the development of six potential sites on large tracts of land on or near previous coal mining operations in Indiana and Illinois. The portfolio size and strategic site locations, each of which is in close proximity to grid injection points, offer the potential for the development of the largest solar and battery storage projects in both Indiana and Illinois.~~The Simpson Thacher team included Shamus Crosby, Christopher May, Tyler Cox, Oscar Hwang, Seth Rosenberg and Miatta Echetebu (M&A); Sophie Staples, Jasmine Hay, Matthew Lester and Zev Klein (Tax); Larry Moss (ECEB); Melanie Jolson (IP); and Étienne Renaudeau (Antitrust).