Spearmint Energy, a leading renewable energy company specializing in battery energy storage, announced that Elda River Capital Management has joined its $200 million enhanced credit facility. This facility is supported by Nuveen’s Energy Infrastructure Credit team and Aiga Capital Partners.
The term loan will aid in the development and operation of Spearmint’s 4.1 GW battery energy storage portfolio. This includes over 1.0 GW of projects nearing construction in Texas’ ERCOT power market and the 150 MW / 300 MWh Revolution project in West Texas. Additionally, the loan will support the expansion of Spearmint’s project development pipeline across the U.S.
Craig Rohr, Partner and Co-Founder of Elda River, stated, “Spearmint has established itself as a leader in developing and operating utility-scale battery energy storage projects. We are excited to partner with Nuveen Energy Infrastructure Credit and Aiga to support Spearmint’s growth and development.”
Cory Magnuson, CFO of Spearmint, welcomed Elda River as a financing partner, emphasizing their shared mission of promoting cost-effective clean energy. Don Dimitrievich of Nuveen’s Energy Infrastructure Credit team praised Spearmint’s progress and expressed enthusiasm for the partnership with Elda River and continued support from Aiga.
