Greenbacker Capital Management, through an affiliated fund, has made a strategic equity investment into Delorean Power, a developer and owner-operator of standalone battery energy storage projects in the United States.
Its projects are integral to the clean energy transition, helping the grid to better adapt to further increases in renewable energy. The growth investment from Greenbacker, a leader in sustainable infrastructure investment, will allow Delorean to further scale its platform while continuing to execute and expand on its existing pipeline of energy storage projects. In addition to the initial $20 million commitment from the Fund, Delorean is in the process of raising a significant amount of asset-level capital to further resource its pipeline.
Energy storage is a highly flexible resource that can benefit a wide variety of stakeholders, from large corporate customers looking to adopt 24/7 clean energy to utility partners shifting energy to save money and avo