Esvolta Secures $243 Million Preferred Equity Investment For Three Standalone Battery Energy Storage Projects

(MENAFN- PR Newswire) These funds will provide financing for three of esVolta's projects in the Electric Reliability Council of Texas (ERCOT) market, totaling nearly 1 GWh of capacity across the sites including Anole, Desert Willow, and Burksol. All projects are currently in construction and are expected to reach commercial operations in the first half of 2025.

"Having such a well-known and established company partner with esVolta is a testament to the team's experience, ability, and track record in bringing high-value, safe, and reliable battery energy storage to the Texas grid," said esVolta's Chief Executive officer, Randolph Mann.

Analysts project that cumulative U.S. energy storage capacity could increase more than tenfold by 2030, driven by state decarbonization targets, expanding corporate demand, and declining costs. These investments in grid modernization and energy storage are critical to ensuring the reliability, resilience, and sustainability of the U.S. electric grid in the face of evolving energy demands and climate challenges.

Including this transaction, esVolta raised nearly $900 million for its energy storage business in 2024, demonstrating the strength of the company's platform as it continues to rapidly deploy energy storage in key U.S. states. This deal unlocks efficient capital to continue to deliver much-needed fast-responding clean energy resources to the ERCOT power grid.

esVolta's Chief Financial Officer, Justin Johns, said, "esVolta is leading the transformation of the electric grid. Focused on sustainability and innovation, we appreciate Captona's partnership in this transaction, enabling us to continue delivering value for utilities, energy users, and investors alike."

esVolta was represented in the transaction by Morgan Lewis & Bockius, and Captona and its equity partner was represented by Kirkland & Ellis LLP.

Having successfully built and operated standalone battery energy storage assets since 2017, esVolta has an active development pipeline with over 30 projects totaling nearly 25 GWh of capacity. Balancing the intermittent nature of renewable resources like solar and wind and reducing reliance on legacy fossil fuel plants, these projects will improve power quality and reliability for utilities and system operators, ensuring availability when it's needed most to meet the nation's growing demand for power.

About esVolta
Serving as the backbone of the nation's electric grid, esVolta is pioneering the standalone energy storage market. From development, engineering, financing and construction to ownership, management, and optimization, we ensure seamless integration for storing today's energy. Efficient, safe, and reliable, we play a significant role in meeting future energy needs. More information on esVolta is available at .

Media Contact:
Fabienne Rodet
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650.804.2504

SOURCE esVolta

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