US renewable energy company Spearmint Energy has announced the inclusion of Elda River Capital Management LLC in its expanded USD-200-million (EUR 183.7 million) credit facility, aimed at supporting its 4.1-GW battery storage portfolio.
The enhanced credit facility will enable Spearmint Energy to advance the development and operation of its energy storage assets and expand its project development pipeline in the US.
The Miami-based company currently operates the 150-MW/300-MWh Revolution energy storage complex in West Texas, which commenced operations in early 2024. Additionally, Spearmint has over 1 GW of battery storage projects approaching construction within Texas' ERCOT power market.
The original USD-200-million term loan was secured from Aiga Capital Partners in the summer of 2023 to support its Texas storage portfolio, including Revolution. Asset manager Nuveen was added to the facility earlier this year.
Elda River Capital's involvement is expected to further bolster Spearmint's efforts in scaling its storage solutions and advancing its renewable energy projects.
