esVolta completes $185 million senior secured credit facility

By Marisa Wong

Los Angeles, April 8 – esVolta, LP announced it completed a $185 million senior secured credit facility, according to a press release.

Nomura Securities International, Inc. acted as lead arranger and bookrunner, and Nomura Corporate Funding Americas, LLC acted as administrative agent.

Copenhagen Infrastructure Partners through its Green Credit Fund I and Voya participated in the financing.

esVolta was represented in the transaction by Orrick, Herrington & Sutcliffe, LLP, and Nomura was represented by Norton Rose Fulbright US LLP.

“Closing this financing represents an important strategic milestone for esVolta, as the facility will provide an efficient source of financing for our next wave of storage projects that are designed to help drive decarbonization of the US electric power grid,” Randolph Mann, chief executive officer and founder of esVolta, said in the press release.

Specifically, the credit facility will give the company access to additional development capital and credit support to secure obligations relating to interconnection, power purchase agreements, equipment deposits as well as early pre-NTP construction funding for the company’s growing pipeline of standalone energy storage assets across the United States.

esVolta, LP is a developer, owner and operator of utility scale energy storage projects across North America.

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