esVolta, a developer, owner and operator of utility-scale battery energy storage projects across North America, closed an expanded corporate credit facility providing up to $450 million of capital to drive new utility-scale energy storage projects in existing and new markets.
Led by Nomura Securities International, a global investment bank in the energy and infrastructure sectors, the transaction extends and upsizes esVolta’s existing $200 million facility originally closed in March 2024 by Nomura, to a size of up to $450 million.
esVolta will apply this new capital primarily to support project development, long-lead equipment procurement and pre-construction costs of its growing portfolio, which covers key energy storage markets including California Independent System Operator (CAISO), Electric Reliability Council of Texas (ERCOT) and Western Electricity Coordinating Council (WECC), in addition to enabling continued expansion into Southwest Power Pool (SPP) and Midcontinent Independent System Operator (MISO). In total, esVolta’s portfolio contains approximately 30 energy storage projects totaling 25 GWh, including 2.0 GWh in operations or construction.
Additional lenders participating in this expanded corporate credit facility include Copenhagen Infrastructure Partners through its Green Credit Fund I & Fund II acting as the largest lender, as well as Allianz Global Investors, Celtic Bank, HSBC Asset Management, Fiera Infrastructure Private Debt and Truist Bank.
“This expanded facility reflects strong confidence in esVolta’s strategy, capabilities in financing and project development and long-term growth trajectory,” Randolph Mann, CEO of esVolta, said. “This bid of support from Nomura and an exceptional group of financing partners positions us well to accelerate deployment of energy storage projects that strengthen grid reliability and meet rising electricity demand in markets across the U.S.”
Nomura has served as lead lender on esVolta’s corporate credit facility since 2024 and continues to play a central role in supporting the company’s expanding development and construction pipeline.
“We are pleased to continue our support for esVolta as it scales its storage portfolio across key U.S. markets,” Vinod Mukani, global head of Nomura’s infrastructure and power business, and Alain Halimi, managing director of Nomura’s infrastructure and power, jointly said. “Leading financings for developers building critical energy infrastructure is at the heart of Nomura’s platform, and this expanded facility reflects both the strength of esVolta’s strategy and the growing importance of battery storage in the U.S. energy landscape.”
esVolta was advised by Orrick, Herrington & Sutcliffe. The lending group was advised by Norton Rose Fulbright US.
