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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