Key Capture Energy (KCE), a developer, owner, and operator of battery energy storage systems (BESS), has closed a $300 million letter of credit facility with Standard Chartered, which served as the sole provider and arranger.

The facility will support KCE’s development pipeline across the U.S., with a near-term focus on the New York Independent System Operator (NYISO) and Midcontinent Independent System Operator (MISO) markets.

According to the release, the letter of credit facility will support its growing project portfolio while preserving liquidity and maintaining flexibility as projects move through development, construction, and operation.

“Battery energy storage is playing an increasingly important role in supporting grid reliability and the evolving U.S. power system,” said Sal Vitale, Head of Coverage, US & Americas at Standard Chartered. “We’re pleased to provide Key Capture Energy with a financing solution that supports the continued growth of its development pipeline, and we look forward to strengthening our partnership as the company expands across key U.S. markets.”

The company has 623 MW of utility-scale battery energy storage facilities in operation and a development pipeline exceeding 8,000 MW across the U.S.

Earlier this month, Avantus, a U.S. developer, owner, and operator of utility-scale solar and energy storage projects, has closed a $1.05 billion corporate credit facility to support the expansion of its renewable energy portfolio.

According to Mercom’s recently released 1H 2026 Funding and M&A for Energy Storage report, announced debt and public market financing for the Energy Storage sector in 1H 2026 totaled $7.3 billion in 22 deals, a 1% decrease compared to $7.4 billion across 19 deals in 1H 2025.

In January 2026, Jupiter Power, a utility-scale energy storage project developer and operator, secured a $500 million senior-secured green revolving loan and letter of credit facility. The facility represents a $275 million upsizing of its previously announced $225 million corporate credit facility, originally closed in 2024. The facility includes up to $175 million in letters of credit and $50 million in revolving loans.