esVolta has completed a preferred equity transaction structured by Captona LLC, an established energy transition investment firm. This capital, along with the sale of ITC transfer proceeds, is expected to provide a total of $243 million in investment.
These funds will provide financing for three of esVolta's projects in the Electric Reliability Council of Texas (ERCOT) market, totaling nearly 1 GWh of capacity across the sites including Anole, Desert Willow, and Burksol. All projects are currently in construction and are expected to reach commercial operations in the first half of 2025.
Analysts project that cumulative U.S. energy storage capacity could increase more than tenfold by 2030, driven by state decarbonization targets, expanding corporate demand, and declining costs. These investments in grid modernization and energy storage are critical to ensuring the reliability, resilience, and sustainability of the U.S. electric grid in the face of evolving energy demand