Calibrant Energy, a provider of on-site energy solutions, has secured a $145 million debt facility led by Investec to finance solar and battery storage projects across multiple US power markets.
The financing also includes participation from Citi, Liberty Bank and Siemens Financial Services.
The project portfolio includes a 120-megawatt-hour (MWh) battery energy storage system (BESS) designed to serve a hyperscale data centre customer in the PJM electricity market.
“Data center operators are choosing on-site energy storage because it is a fast, reliable, and effective way to get online and operate as responsible grid citizens,” said Phil Martin, CEO of Calibrant Energy. “With this financial close and site mobilization for a hyperscale data center, Calibrant continues to demonstrate that large-load flexibility is not just possible but a commercial reality today.”
Battery Storage Helps Data Centres Access Power Faster
The financing comes as data centre operators face growing challenges in securing reliable electricity and connecting new facilities to the power grid.
In the PJM market, where large power users are seeking additional electricity capacity, grid connection processes and infrastructure requirements can affect how quickly new data centres become operational.
Calibrant Energy develops battery storage and on-site energy systems that give energy-intensive businesses greater control over when and how they consume electricity.
These systems can help facilities manage power demand, support faster grid interconnection and reduce the need for costly upgrades to existing electricity infrastructure.
The company offers turnkey, zero-capital-expenditure (zero-capex) solutions, meaning customers can access on-site energy systems without making the upfront investment themselves. Calibrant develops, owns and operates the projects.
“Investec is proud to support Calibrant and Macquarie on this transaction,” said Fred Petit, Co-Head of Energy & Infrastructure North America at Investec. “We value the opportunity to partner with experienced investors and operators, and to provide financing that advances the energy transition and the critical infrastructure needed to meet growing power demand across the U.S.”
Calibrant Energy’s Battery Storage Portfolio Expands
Calibrant Energy says it now has more than 5.9 gigawatt-hours (GWh) of battery storage capacity across projects that are operational, under construction or covered by exclusive development agreements.
Its portfolio also includes additional projects for the same hyperscale data centre customer.
The company reports that its expanding project pipeline reflects increasing demand from large electricity users for on-site energy solutions that can improve access to power while helping reduce pressure on the wider electricity grid.
Across its portfolio, Calibrant has more than 2.2 gigawatts (GW) of energy projects and 5.9 GWh of battery storage capacity in operation, under construction or under exclusive development agreements.
Supporting Growing US Energy Demand
The $145 million debt facility will support Calibrant Energy’s development of solar and battery storage projects across several US electricity markets.
As data centres and other energy-intensive industries expand, demand is increasing for reliable power infrastructure that can support new facilities and manage electricity consumption more efficiently.
Backed by Macquarie Asset Management, Calibrant Energy provides on-site energy solutions designed to help large businesses access reliable, affordable and sustainable electricity.
