DJIA51786.72 -197.26
S&P 5007568.92 27.52
NASDAQ25372.01 207.65
Russell 20002812.45 -0.02
German DAX25864.62 -118.25
FTSE 10010638.43 -122.90
CAC 408020.31 -27.38
EuroStoxx 506138.55 -40.30
Nikkei 22563081.86 -208.25
Hang Seng23525.97 132.65
Shanghai Comp3608.10 -29.93
KOSPI5648.79 -210.29
Bloomberg Comm IDX137.09 -0.95
WTI Crude-fut117.70 0.00
Brent Crude-fut96.71 0.50
Natural Gas3.39 0.03
Gasoline-fut2.95 0.05
Gold-fut3940.10 -13.30
Silver-fut49.81 -0.84
Platinum-fut1419.80 -30.20
Palladium-fut932.50 -29.50
Copper-fut6.40 -0.14
Aluminum-spot2995.00 0.00
Coffee-fut284.05 -10.10
Soybeans-fut1213.00 -3.00
Wheat-fut598.00 -8.00
Bitcoin77795.64 781.62
Ethereum USD2286.02 32.50
Litecoin54.53 0.49
Dogecoin0.08 0.00
EUR/USD1.1192 -0.0011
USD/JPY158.51 0.69
GBP/USD1.3418 -0.0001
USD/CHF0.8208 0.0022
USD IDX101.88 0.15
US 10-Yr TR4.928 -0.022
GER 10-Yr TR3.3286 0.0179
UK 10-Yr TR5.2476 -0.0178
JAP 10-Yr TR2.812 0
Fed Funds4 0
SOFR3.95 0
Connect News Money news for every market and every facet, every day.
Connect Money Events Live and virtual events bringing together the best of information and networking.
Financial Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Awards View the A-list of money & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for clear, concise news of maximum importance to the financial services industry.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Topics

Direct Investment  + CLOs  |  October 20, 2023
First Citizens Arranges $672M Financing for Battery Storage Projects
Joe Palmisano
By: Joe Palmisano

First Citizens Arranges $672M Financing for Battery Storage Projects

First Citizens Bank’s energy finance business served as the coordinating lead arranger on three battery storage project financings for Plus Power, representing $672 million in financing and 700MW of energy storage capacity.

The projects support the ERCOT grid in Texas. The construction and term financing include $276 million for Rodeo Ranch Battery Storage, a 300MW/600MWh facility located in Reeves County; $196 million for Ebony Energy Storage, a 200 MW/400 MWh facility located in Comal County; and $200 million for Anemoi Energy Storage, a 200 MW/400 MWh facility located in Hidalgo County.

The company’s portfolio includes large-scale lithium-ion battery systems across more than 25 states and Canadian provinces. The firm is currently executing on 10 gigawatts of additional interconnection capacity.

“Plus Power is dedicated to advancing standalone battery storage as a critical technology to help stabilize the U.S. electrical grid as well as incorporate more solar and wind energy,” said Josh Goldstein, CFO of Plus Power.

Connect

Inside The Story

Plus PowerFirst Citizens Bank

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.
Order Reprints