California-headquartered developer esVolta has closed an expanded corporate credit facility providing up to US$450 million of capital to expand new utility-scale energy storage projects in the US.
Led by global investment bank Nomura Securities International, the transaction extends and upsizes esVolta’s existing US$200 million facility originally closed in March 2024 by Nomura, to a size of up to $450 million.
Additional lenders participating in the expanded credit facility include Copenhagen Infrastructure Partners through its Green Credit Fund I & Fund II acting as the largest lender, Allianz Global Investors, Celtic Bank, HSBC Asset Management, Fiera Infrastructure Private Debt, and Truist Bank.
According to esVolta, it will apply this new capital primarily to support project development, long-lead equipment procurement, and pre-construction costs of its battery energy storage system (BESS) portfolio.
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EsVolta highlights its activity across the California Independent System Operator (CAISO), Electric Reliability Council of Texas (ERCOT) and Western Electricity Coordinating Council (WECC) markets.
The company also notes that the credit facility will enable its continued expansion into the Southwest Power Pool (SPP) and Midcontinent Independent System Operator (MISO) markets. In total, esVolta claims its portfolio contains approximately 30 energy storage projects totaling 25GWh, including 2GWh in operations or construction.
In March, esVolta closed a US$139.6 million project financing package with MUFG Bank for its 300MWh Boxcar energy storage project located in Wylie, Texas, northeast of Dallas. The project will deliver 150MW of power output, alongside its 300MWh of BESS, to ERCOT when it becomes operational in 2027.
In December 2025, the Board of Supervisors (BoS) for Arizona’s Pinal County gave esVolta the go-ahead to construct its 3.2GWh BESS. Utility Salt River Project (SRP) and public utility Electric District No. 3 (ED3) were in talks to procure some of the capacity.
