First Citizens Bank, through its Energy Finance business, has served as coordinating lead arranger on $133 million of financing for the new Cranberry Point Energy Storage project planned for Carver, Mass.
Cranberry Point is a 150-megawatt/300-megawatt-hours battery energy-storage project developed by Plus Power with a targeted completion in second quarter 2025. Located on approximately six acres of land, the project will interconnect near-critical transmission infrastructure and represents the first major utility-scale standalone battery-storage facility in construction on the New England grid.
