Spearmint Energy, a next-generation renewable-energy company focused on battery-energy storage, has closed a $92 million tax equity investment in its Revolution project, provided by Greenprint Capital Management.
Greenprint’s investment in Revolution, a 150-megawatt, 300-megawatt-hour battery energy-storage project in west Texas, marks one of the first applications of the Investment Tax Credit structure for a standalone battery energy-storage system after the passing of the Inflation Reduction Act.
The project is expected to be one of the largest batteries in the United States. It will help strengthen Texas’ energy-storage capabilities, provide a resilient electric grid for homes and businesses during times of extreme weather and bolster access to renewable-energy solutions across the ERCOT system.
Revolution, which reached mechanical completion this summer, is scheduled to begin operations later this year.
“We are pleased to partner with Greenprint