EsVolta secures US$185 million pre-NTP financing for US BESS deployments

LinkedIn
Twitter
Reddit
Facebook
Email

Developer and operator EsVolta has secured a US$185 million senior secured credit facility for its US battery energy storage system (BESS) project pipeline.

The new funds will allow EsVolta to secure obligations relating to interconnection, power purchase agreements (PPAs), equipment deposits as well as early pre-NTP (notice-to-proceed) construction funding for its BESS pipeline, which it claims is over 20GWh.

Financial holding company Nomura was the sole lead arranger, bookrunner and administrative agent for the facility, with participation from peers Copenhagen Infrastructure Partners (CIP) and Voya.

It follows EsVolta beginning construction on three BESS projects in Texas totalling 490MW/980MWh in February 2024: the 240MW/480MWh Anole project, the 150MW/300MWh Desert Willow project and the 100MW/200MWh Burksol project.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The first two are near Dallas while Burksol is in Dickens County, northwest Texas, and all three projects have hedge contracts in place. Of EsVolta’s 20GWh pipeline, 1.5GW is in operation or in-construction, it said in February.

In November 2023, it secured tax equity financing for its 30MW/60MWh Santa Paula BESS project in California, as reported by Energy-Storage.news.

EsVolta is owned by Generate Capital following an acquisition in 2022. It was originally formed through the acquisition of the development assets of Powin Energy, when the latter transitioned to become an energy storage technology provider only.

“We are delighted to have led this strategic pre-NTP financing for esVolta as they are one of the first movers in the US battery storage space,” said Alain Halimi, Managing Director, Nomura’s IPB.

The Texas market, operated by ERCOT, and California, operated by CAISO, are the two largest by BESS deployments in the US with around 7-8GW online, each.

Read Next

August 5, 2025
HMC Capital has completed the acquisition of Neoen’s energy storage and renewables portfolio in Victoria, Australia.
August 4, 2025
Paul Peters, CEO of the New South Wales Energy Security Corporation (ESC) discusses the investment mandate of the newly launched green bank.
July 31, 2025
Clean energy owner-operators Apex Clean Energy and esVolta have commissioned and put into commercial operation BESS projects in the ERCOT, Texas market, while second life BESS firm B2U has started building one in the state.
July 31, 2025
Tesla’s Shane Bannister revealed that he doesn’t think Tesla will sell another battery in Australia that’s not grid-forming.
Premium
July 30, 2025
Energy-Storage.news Premium speaks with Sean McEvoy, President of North America at GridBeyond, following its optimisation of Gore Street Energy Storage Fund’s (GSF) Big Rock energy storage project.

Most Popular

Email Newsletter