Expanding Renewable Energy Reach
Spearmint Energy, a leading renewable energy company, partners with Nuveen to boost its $200 million credit facility for battery storage development. Nuveen’s Energy Infrastructure Credit team joins Aiga Capital Partners in supporting Spearmint’s 2.8 GW battery energy storage system (BESS) portfolio.
Key Projects in Development
Spearmint’s portfolio includes 1.0 GW of upcoming projects in Texas’ ERCOT power market and the groundbreaking Revolution project—a 150 MW, 300 MWh BESS in West Texas. Revolution, now operational, enhances grid stability, supporting a low-cost, clean, and resilient energy grid for ERCOT.
Nuveen’s Commitment to Decarbonization
Nuveen’s Energy Infrastructure Credit team, focused on aiding companies in the low carbon transition, underscores the importance of partnering with Spearmint. Don Dimitrievich, Portfolio Manager at Nuveen, emphasizes their commitment to supporting decarbonization and robust energy storage operators.
Aiga Capital Partners’ Continued Support
Angel Fierro, Managing Partner at Aiga Capital Partners, expresses excitement about partnering with Nuveen to fuel Spearmint’s growth. Aiga’s prior financing contributed to the successful development of Spearmint’s projects, with Nuveen’s expertise set to enhance the company’s expansion in the renewable energy sector.
Spearmint Energy’s CEO, Andrew Waranch, values Nuveen and Aiga’s support, recognizing their confidence in Spearmint’s capability to efficiently construct utility-scale BESS projects, a crucial aspect of driving the renewable energy transition.
Source：businesswire.com
