
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.
