Spearmint Energy, a next-generation renewable-energy company focused on battery-energy storage, has closed a $200 million credit facility with Aiga Capital Partners, an investment management firm providing flexible capital solutions to North America-based companies developing sustainable infrastructure assets.
The term loan will support the development of Spearmint’s 1.2-gigawatt portfolio of battery-energy storage system (BESS) assets in Texas’ ERCOT power market and continued expansion of the company’s utility-scale storage portfolio across the United States.
Spearmint’s portfolio of BESS assets in ERCOT now consists of a 300-megawatt-hour battery-energy storage project — Revolution — and three battery-energy storage projects, each with a target capacity of 300 megawatts, known collectively as Nomadic.
“This transaction represents a significant milestone for Spearmint as we continue to build out our best-in-class portfolio of b