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
Renewable Energy
Revised Vaccination Regimen
The world could accept a radical change in The United States’ protocol for administering vaccination if it were made by scientists, i.e., people trained in the eradication of potentially lethal diseases. Our problem, and it’s one that’s unique to America, is that our health policies are made by a recovering heroin addict with no background in the subject — a crackpot with parts of his brain missing, having been eaten by a parasitic worm.
Fortunately for us all, no other country on Earth operates this way.
Renewable Energy
Explore Commercial Heat Pump Warranties: What Cyanergy Offers?
Renewable Energy
Handing the Keys to the Kingdom over to the Chinese
When I argue for environmental responsibility and the decarbonization of the grid, I often say:
I know there are people who believe, perhaps because this is what they’re told by Donald Trump, that climate change is a hoax. But are there people who don’t believe in cancer? In the importance of our country’s investing in the industry that is destined the dominate the 21st Century?
Trump will be gone soon. Maybe you and I will be gone (in a different sense) before the effects of this administration’s folly in the EV and cleantech industry are fully felt.
But it’s inevitable, unless we turn this around, and soon.
-
Climate Change4 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases4 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Climate Change2 years ago
Spanish-language misinformation on renewable energy spreads online, report shows
-
Greenhouse Gases2 years ago嘉宾来稿:满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Climate Change Videos2 years ago
The toxic gas flares fuelling Nigeria’s climate change – BBC News
-
Climate Change2 years ago嘉宾来稿:满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Carbon Footprint2 years agoUS SEC’s Climate Disclosure Rules Spur Renewed Interest in Carbon Credits
-
Climate Change2 years ago
Why airlines are perfect targets for anti-greenwashing legal action
