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Flatiron Energy, a developer of utility-scale energy storage projects, <a href="https://mercomcapital.com/flatiron-energy-secures-540-million-for-800-mwh-storage-project/" target="_blank" rel="noopener">secured</a> approximately $540 million in financing from a group of financial institutions to support the construction and operation of the Taft Project. Taft is a 200 MW/800 MWh battery energy storage project located in Uxbridge, Massachusetts. The project is expected to begin commercial operation in late 2026.
GridStor, a developer and operator of utility-scale battery energy storage projects, <a href="https://mercomcapital.com/gridstor-acquires-100-mw-400-mwh-white-tank-bess/" target="_blank" rel="noopener">announced</a> the acquisition of the 100 MW/400 MWh White Tank battery storage project in Arizona from Strata Clean Energy, a vertically integrated solar and storage project developer. The project is in in the state’s Maricopa County and is expected to reach commercial operation in the first half of 2027.
Enfinity Global <a href="https://www.mercomindia.com/enfinity-global-secures-%E2%82%B95-billion-debt-financing-from-india-infradebt" target="_blank" rel="noopener">secured</a> ₹5.2 billion (~$59 million) in debt financing from India Infradebt for its 200 MW solar projects across India. Enfinity has a global portfolio of 36 GW of renewable energy and storage projects, including operational projects, under construction, and development assets. It also has an additional 37 GW under negotiation across the U.S.
Nexamp, a developer of solar and battery storage projects, <a href="https://mercomcapital.com/nexamp-secures-350-million-from-macquarie-asset-management/" target="_blank" rel="noopener">secured</a> $350 million in financing from Macquarie Asset Management to support the construction of its utility-scale solar and battery storage projects. The financing from Macquarie will be used to advance a significant portion of the company’s 6 GW project pipeline, which has been under development since Nexamp’s expansion into the utility-scale segment in 2021.
Green Genius, a renewable energy company, <a href="https://mercomcapital.com/green-genius-secures-30-million/" target="_blank" rel="noopener">closed</a> €25.3 million (~$29.9 million) in financing for the construction and development of a 196 MWh battery energy storage project in Antkalniškiai village, Jurbarkas district, Lithuania. Swedbank provided the funding for the battery storage system to EKO Srautas, a company owned by Green Genius. The project is expected to reach commercial operation by the end of the third quarter of 2026.
Velto Renewables, an independent renewable energy power producer backed by La Caisse (formerly CDPQ), will <a href="https://mercomcapital.com/velto-renewables-to-acquire-260-mw-solar-projects-in-spain/" target="_blank" rel="noopener">acquire</a> a portfolio of regulated solar projects totalling 163 MW from Helia II FCR, an investment vehicle in renewable assets launched by Bankinter Investment SGEIC, along with Plenium Partners. In addition to the 163 MW portfolio, Plenium Partners has added its own solar portfolio of 97 MW to the transaction with Velto.
Entech Energy &amp; Services, a company specializing in renewable energy storage and management, <a href="https://mercomcapital.com/entech-energy-services-acquires-159-mw-solar-projects/" target="_blank" rel="noopener">acquired</a> a portfolio of 41 ground-mounted solar projects totalling approximately 159 MW of capacity from TotalEnergies Renouvelables France.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week&#8217;s project finance <a href="https://mercomcapital.com/project-finance-brief-nautilus-community-solar-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Flatiron Energy Secures $540 Million for 800 MWh Storage Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-flatiron-energy-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Flatiron Energy, a developer of utility-scale energy storage projects, <a href="https://mercomcapital.com/flatiron-energy-secures-540-million-for-800-mwh-storage-project/" target="_blank" rel="noopener">secured</a> approximately $540 million in financing from a group of financial institutions to support the construction and operation of the Taft Project. Taft is a 200 MW/800 MWh battery energy storage project located in Uxbridge, Massachusetts. The project is expected to begin commercial operation in late 2026.
GridStor, a developer and operator of utility-scale battery energy storage projects, <a href="https://mercomcapital.com/gridstor-acquires-100-mw-400-mwh-white-tank-bess/" target="_blank" rel="noopener">announced</a> the acquisition of the 100 MW/400 MWh White Tank battery storage project in Arizona from Strata Clean Energy, a vertically integrated solar and storage project developer. The project is in in the state’s Maricopa County and is expected to reach commercial operation in the first half of 2027.
Enfinity Global <a href="https://www.mercomindia.com/enfinity-global-secures-%E2%82%B95-billion-debt-financing-from-india-infradebt" target="_blank" rel="noopener">secured</a> ₹5.2 billion (~$59 million) in debt financing from India Infradebt for its 200 MW solar projects across India. Enfinity has a global portfolio of 36 GW of renewable energy and storage projects, including operational projects, under construction, and development assets. It also has an additional 37 GW under negotiation across the U.S.
Nexamp, a developer of solar and battery storage projects, <a href="https://mercomcapital.com/nexamp-secures-350-million-from-macquarie-asset-management/" target="_blank" rel="noopener">secured</a> $350 million in financing from Macquarie Asset Management to support the construction of its utility-scale solar and battery storage projects. The financing from Macquarie will be used to advance a significant portion of the company’s 6 GW project pipeline, which has been under development since Nexamp’s expansion into the utility-scale segment in 2021.
Green Genius, a renewable energy company, <a href="https://mercomcapital.com/green-genius-secures-30-million/" target="_blank" rel="noopener">closed</a> €25.3 million (~$29.9 million) in financing for the construction and development of a 196 MWh battery energy storage project in Antkalniškiai village, Jurbarkas district, Lithuania. Swedbank provided the funding for the battery storage system to EKO Srautas, a company owned by Green Genius. The project is expected to reach commercial operation by the end of the third quarter of 2026.
Velto Renewables, an independent renewable energy power producer backed by La Caisse (formerly CDPQ), will <a href="https://mercomcapital.com/velto-renewables-to-acquire-260-mw-solar-projects-in-spain/" target="_blank" rel="noopener">acquire</a> a portfolio of regulated solar projects totalling 163 MW from Helia II FCR, an investment vehicle in renewable assets launched by Bankinter Investment SGEIC, along with Plenium Partners. In addition to the 163 MW portfolio, Plenium Partners has added its own solar portfolio of 97 MW to the transaction with Velto.
Entech Energy &amp; Services, a company specializing in renewable energy storage and management, <a href="https://mercomcapital.com/entech-energy-services-acquires-159-mw-solar-projects/" target="_blank" rel="noopener">acquired</a> a portfolio of 41 ground-mounted solar projects totalling approximately 159 MW of capacity from TotalEnergies Renouvelables France.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-nautilus-community-solar-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.flatiron.energy/" target="_blank" rel="noopener">Flatiron Energy</a>, a developer of utility-scale energy storage projects, secured approximately $540 million in financing from a group of financial institutions to support the construction and operation of the Taft Project.
Taft is a 200 MW/800 MWh battery energy storage project located in Uxbridge, Massachusetts. The project is expected to begin commercial operation in late 2026
The financing comprises construction and bridge loan facilities, term loan facilities, letter of credit facilities, a preferred equity commitment, and a tax credit transfer commitment.
A consortium of banks, including First Citizens Bank and Nord/LB as coordinating lead arrangers, and Societe Generale, Santander, and Investec serving as joint lead arrangers, provided the construction loans, term loans, bridge loans, and letters of credit. Societe Generale acted as green loan coordinating agent, and Santander as hedging coordinator.
A global credit asset manager provided the preferred equity commitment, while a Fortune 500 corporation provided a forward commitment to transfer a portion of the project&#8217;s investment tax credits.
Orrick, Herrington &amp; Sutcliffe and Foley Hoag advised Flatiron Energy. Winston &amp; Strawn and Rath, Young and Pignatelli, P.C., represented the lender group.
&#8220;We are proud to have co-led the debt financing for Flatiron Energy&#8217;s Taft Project &#8211; Nord/LB&#8217;s third stand-alone BESS financing in NE-ISO. This transaction demonstrates Nord/LB&#8217;s commitment to the BESS sector, leveraging deep industry relationships to support new clients, applying innovative structuring to advance build-outs in new markets, and fulfilling our mission to advance the energy transition while meeting energy resiliency and energy security. By bringing added firm capacity to the grid, Taft supports a cleaner, more reliable energy future for the region,&#8221; says Sondra Martinez, Head of Project Finance-Origination at Nord/LB.
According to Mercom&#8217;s 1H and Q2 2025 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-2025-funding-ma-report-energy-storage/">Report</a> for Energy Storage report, announced Energy Storage project financing increased 168% year-over-year in 2025.
In September, Fidra Energy, a developer of battery energy storage projects, <a href="https://cms.mercomindia.com/fidra-energy-secures-financing-for-1-4-gw-energy-storage-project/" target="_blank" rel="noopener">secured</a> up to £445 million (~$603 million) in new equity investment from EIG and the National Wealth Fund (NWF). The funding will be used for the development of its Thorpe Marsh battery energy storage project located in Doncaster, South Yorkshire.

Flatiron Energy Secures $540 Million for 800 MWh Storage Project

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