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Spearmint Energy has closed a $47.5 million project finance term loan from Manulife to support the commercial operation of Revolution, Spearmint’s 150 MW, 300 MWh BESS project in West Texas’ ERCOT market.

“We are proud to partner with Manulife, globally recognized for its strong track record of identifying key market leaders and providing capital with meaningful outcomes, for one of its first ever investments in standalone battery storage,” says Spearmint CFO Cory Magnuson. “Our successful closing of this loan amidst a highly competitive bidding process reflects Spearmint’s leading position within Texas’ fast-growing energy storage market as well as Revolution’s success to date in supporting grid stability throughout ERCOT.”

The close of the project finance term loan follows Revolution’s commercial operations launch earlier this year, as well as Spearmint’s prior securing of $92 million in tax equity financing from Greenprint Capital Management and $200 million in term loan financing from Aiga Capital Partners and Nuveen.

Javelin Capital supported Spearmint as financial advisor on the transaction and Paul Hastings LLP served as Spearmint’s legal counsel. Day Pitney served as legal counsel for Manulife.

The post Spearmint Energy Secures Loan from Manulife for ERCOT BESS Project appeared first on Solar Industry.

Spearmint Energy Secures Loan from Manulife for ERCOT BESS Project

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Renewable Energy

Carbon Capture and Synthetic Fuels

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As we’ve noted in the past, the idea of capturing CO2 from the atmosphere is completely unfeasible, since 99.96% of the air around is something other than CO2 (mostly nitrogen).  However, there are environments that change this equation radically, cement plants being one of them, where the concentration of CO2 emissions is as high as 30% (versus .04%).

Now, this brings the subject of synthetic fuels into the realm of possibility.  Sure, if you want to make gasoline, diesel, and jet fuel, you’ll need two other things: hydrogen (which can come from electrolyzing water), and a considerable amount of energy, as these processes are heavily endothermic, meaning that energy must be supplied from external sources.

The good news is that we have enormous amounts of off-peak wind and nuclear that are wasted every day.  Please see: Doty WindFuels.

Carbon Capture and Synthetic Fuels

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Renewable Energy

What Trump Is Actually Doing

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With each passing day, there are fewer and fewer American voters who believe the bullshit at left.

Is Trump working hard to stay out of prison? Enrich himself and his family?  Of course.

Could be possibly care less about anything else? Obviously not.

What Trump Is Actually Doing

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Renewable Energy

Flagging Tourism to the United States

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What’s the thought process of people in the rest of the developed world when it comes to visiting the U.S.?

Conversely, would you or I want to visit some country with a deeply corrupt regime that is systematically committing atrocities all around the globe, and whose leader is lining his pockets?

I’m glad I don’t own a resort in New England that counts on a flow of visitors from Canada.  If I were a Canadian, I’d be thinking I’d rather visit hell.

Flagging Tourism to the United States

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