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Alternative Assets  + Real Assets  |  June 15, 2023
Aiga Provides $200M Credit Facility to Renewable Energy Firm Spearmint
Joe Palmisano
By: Joe Palmisano

Aiga Provides $200M Credit Facility to Renewable Energy Firm Spearmint

Renewable energy company focused on battery storage, Spearmint Energy, closed a $200 million credit facility provided by investment manager Aiga Capital Partners.

The term loan will support the development of Spearmint’s 1.2 GW/2.4 GWh portfolio of BESS (Battery Energy Storage System) assets in Texas’ ERCOT power market and the expansion of the company’s storage portfolio across the U.S.

The Miami-based firm’s portfolio of BESS assets in ERCOT is currently comprised of a 300 MWh battery energy storage project known as Revolution and three battery energy storage projects, each with a target capacity of 300 MW, known collectively as Nomadic.

“This facility will enable Spearmint to accelerate the construction of our projects currently under development, capitalize on our strong pipeline of development opportunities, and reliably deliver renewable energy to the grid for years to come,” said Spearmint Founder, President, and CEO Andrew Waranch.

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Spearmint EnergyAiga Capital Partners

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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