In this US news roundup, e-Storage, Spearmint Energy, and OCI Energy advance battery energy storage system (BESS) projects and financing in Michigan and Texas.
e-Storage to supply 381MWh BESS to Apex Clean Energy in Michigan
Canadian Solar’s energy storage subsidiary, e-Storage, will supply a 75MW/381MWh DC BESS to developer Apex Clean Energy in Branch County, Michigan.
The system will be co-located with Apex’s operating Coldwater Solar facility.
Announced 24 June e-Storage will deliver an integrated solution combining the company’s SolBank 3.0 BESS solution with power conversion systems (PCS) and the its proprietary EQ-S energy management system (EMS). Deliveries are scheduled to begin in early 2027, with commercial operation targeted for mid-2027.
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The project enters service as Michigan law requires utilities to bring 2,500MW of energy storage online by 2030. The state’s largest coal units are scheduled to retire through 2032, removing dispatchable capacity from the MISO grid.
“Power demand is rising rapidly, and storage projects like Coldwater enable our grid to keep pace,” said Ken Young, CEO of Apex. “e-Storage has the technology and the scale to deliver this project, and we’re glad to be working once again with our partners at Canadian Solar.”
In February, e-Storage and owner-operator Sunraycer Renewables entered into agreements for the supply and long-term servicing of two BESS totalling 503MWh in Franklin County, Texas.
Spearmint Energy secures US$325 million expanded debt facility
Battery storage developer and operator Spearmint Energy has secured a US$325 million expanded debt facility in partnership with Nuveen Energy Infrastructure Credit, Elda River Capital Management, Harrison Street Asset Management, and Aiga Capital Partners.
The company claims that the debt facility strengthens its capital base and supports strategic initiatives across its platform.
The company expects to leverage the capital to advance its operating portfolio, including the 100MW/200MWh Tierra Seca, 100MW/200MWh Seven Flags, and the 150MW/300MWh Revolution BESS projects, as well as development projects throughout the United States.
The investment builds on recent momentum within Spearmint, including approximately US$450 million in project financings to support Red Egret, a 300MW/600MWh standalone BESS project currently under construction in Texas City, Texas.
In April 2025, Spearmint closed US$250 million in financing for the Tierra Seca and Seven Flags projects.
The financing package included US$59 million in construction-to-term loan facilities from Manulife, US$95 million in tax equity bridge loan facilities from East West Bank and Investec, and US$98 million in tax equity commitments from Sugar Creek Capital.
In 2022, Energy-Storage.news reported that Black Mountain Energy Storage had entered into an exclusivity agreement with developer Cypress Creek for the Tierra Seca and Seven Flags BESS projects, along with Brazos Bend and Third Coast, two additional BESS projects also in Texas. The subsequent sale of the projects to Spearmint does not appear to have been publicly announced, although it was around that time that Spearmint acquired the 150MW Revolution BESS from the development arm of utility holding company Con Edison.
OCI Energy closes US$130 million tax equity financing for Alamo City BESS
Developer OCI Energy has closed approximately US$130 million in tax equity financing for its 120MW/480MWh Alamo City BESS project in Bexar County, Texas.
The transaction was structured as a tax equity investment with Greenprint Capital, a clean energy investment firm.
Announced 22 June Alamo City BESS is being developed by OCI Energy under a long-term storage capacity agreement with CPS Energy, the nation’s largest municipally owned electric and natural gas utility.
The closing of tax equity financing follows the successful completion of construction financing in 2025 and the project’s official groundbreaking last month.
Ed Rossier, Managing Director of Investments at Greenprint Capital, noted, “We’re proud to partner with OCI Energy on Alamo City BESS, a project that advances critical energy storage infrastructure in ERCOT. This transaction represents one of our first investments structured with the technology neutral Clean Electricity Investment Credit, and it underscores our focus on scaling tax-efficient capital solutions to finance dispatchable energy resources.”
The Alamo City BESS project’s four-hour discharge capability places it within a select group of long-duration energy storage (LDES) assets in the Electric Reliability Council of Texas (ERCOT) market, where most projects are around two hours in duration.
OCI said the project is “supported by a consortium of experienced industry partners”, including Dutch multinational bank ING, which provided construction financing, LG Energy Solution Vertech as the battery technology provider, and Elgin Power Solutions as EPC contractor.
The Alamo City BESS is expected to enter commercial operation in 2027.
