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

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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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