esVolt, a leading developer, owner, and operator of utility-scale battery energy storage projects across North America, announced on June 3 that it closed an expanded corporate credit facility providing up to $450 million of capital to drive new utility-scale energy storage projects in existing and new markets.
Led by Nomura Securities International, Inc. (Nomura), a leading global investment bank in the energy and infrastructure sectors, the transaction extends and upsizes esVolta's existing $200 million facility originally closed in March 2024 by Nomura, to a size of up to $450 million.
esVolta will apply this new capital primarily to support project development, long-lead equipment procurement, and pre-construction costs of its growing portfolio, which covers key energy storage markets including California Independent System Operator (CAISO), Electric Reliability Council of Texas (ERCOT) and Western Electricity Coordinating Council (WECC), in addition to enabling continued expansion into Southwest Power Pool (SPP) and Midcontinent Independent System Operator (MISO). In total, esVolta's portfolio contains approximately 30 energy storage projects totaling 25 GWh, including 2.0 GWh in operations or construction.
Additional lenders participating in this expanded corporate credit facility include Copenhagen Infrastructure Partners through its Green Credit Fund I & Fund II acting as the largest lender, as well as Allianz Global Investors, Celtic Bank, HSBC Asset Management, Fiera Infrastructure Private Debt, and Truist Bank.
