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Developer Secures $47.5 Million Project Finance Term Loan for Battery Energy Storage Project in ERCOT
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Spearmint Energy (“Spearmint” or the “Company”) announced that it has successfully closed a $47.5 million project finance term loan from Manulife, which is described as a global financial services provider.
The term loan will support the commercial operation of Revolution, Spearmint’s 150 MW, 300 MWh battery energy storage system (“BESS”) project located in West Texas’ ERCOT power market.
"The close of the project finance term loan follows the successful completion and launch of commercial operations of Revolution announced earlier this year, as well as Spearmint’s prior securing of $92 million in tax equity financing from Greenprint Capital Management as well as $200 million in term loan financing from Aiga Capital Partners and Nuveen," Spearmint said
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February 6, 2024
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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