Energy Storage News•about 2 months ago
Flatiron Energy upsizes credit facility to US$250 million for BESS portfolio
Key Takeaway
The doubling of Flatiron Energy's credit facility to US$250 million for its BESS portfolio underscores robust financial backing and accelerating market maturity for energy storage, crucial for grid resilience and future energy supply for large consumers.
AI Summary
- •Developer Flatiron Energy has doubled its credit facility to US$250 million, secured from HPS Investment Partners.
- •This substantial financing is earmarked for the expansion and development of Flatiron Energy's Battery Energy Storage System (BESS) portfolio.
- •The upsized credit facility signals strong investor confidence in the BESS market, facilitating accelerated deployment of energy storage projects.
- •For developers, this highlights the increasing availability of significant capital for BESS ventures. For large power consumers, it suggests a growing pipeline of storage assets that can enhance grid reliability and potentially stabilize energy costs.
Topics
capacity-marketfinancingppastorage