A roundup of US battery storage project financing news from this week, with deals struck by SMT Energy and UBS, Plus Power, as well as CleanCapital and Available Power, covering over 1GW of projects.
Blackstone and Foss & Company have completed transferability investment tax credit (ITC) deals for BESS projects in California and Texas, a market which has grown “faster than anyone expected” according to tax credit ecosystem Crux.
Blackstone Credit & Insurance, the newest business division of global asset manager Blackstone, has closed financing for a large-scale battery storage project in California, US, with developer Arevon.
US battery storage developer Key Capture Energy has sold investment tax credits (ITCs) for battery energy storage system (BESS) projects in New York and Texas, using new transferability rules.
A tax credit transaction worth US$60 million using new transferability mechanisms from the Inflation Reduction Act has closed, for a BESS project deployed by Energy Vault for W Power and Wellhead Electric.
Renewable energy developer and operator Arevon has completed the financing for a 600MWh solar and storage project in California, US, including US$191 million of investment tax credits (ITC) provided using new transferability provisions.
Developer Plus Power’s recent financing for BESS projects in Arizona and Texas shows it “driving energy storage into the mainstream of capital markets”, executive chairman Brandon Keefe told Energy-Storage.news.
Battery storage developer and operator Spearmint Energy has closed a US$92 million tax equity investment into a battery storage project in the ERCOT, Texas market.
