Elda River joins funding of Spearmint's 4.1-GW battery portfolio in US

US renewable energy company Spearmint Energy on Monday said that energy transition and infrastructure investor Elda River Capital Management LLC has joined its USD-200-million (EUR 183.7m) enhanced credit facility supporting a 4.1-GW battery storage portfolio.

The expanded term loan will enable Spearmint to develop and operate its portfolio of energy storage assets and further boost its project development pipeline at home. The Miami, Florida-based company owns the 150-MW/300-MWh Revolution energy storage complex in West Texas, which was commissioned in early 2024 and also has more than 1 GW of battery storage projects nearing construction in Texas’ ERCOT power market.

Spearmint secured the original USD-200-million term loan financing from Aiga Capital Partners in the summer of 2023 to support a Texas storage portfolio including Revolution. Asset manager Nuveen was added to the facility at the beginning of this year.

(USD 1.0 = EUR 0.918)

Choose your newsletter by Renewables Now. Join for free!