On. Energy Storage Portfolio

80MWh (Palo Verde) On. Energy Storage Portfolio - Financing

Industry
Power/Battery storage
Area of finance
Project & Infrastructure Finance
Region
North America
North America
Countries
United States

Deal Overview

On.Energy has closed a $40 million construction facility and permanent debt facilities for an 80MWh storage portfolio in Texas. The Palo Verde Projects are set to come online in Q3 of 2024 and will support the balancing of the ERCOT grid by providing both ancillary services as well as arbitrage.

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Deal Volume
$40m
Financial Close
21/12/2023
Dealmakers
Sources

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Tranches

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Project Deals

80MWh (Palo Verde) On. Energy Storage Portfolio
$40m
Greenfield
Battery storage
North America
North America
United States