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esVolta secures US$140 million financing for 300MWh Texas battery storage project

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esVolta has closed a US$139.6 million project financing package with MUFG Bank for its 300MWh Boxcar energy storage project in Texas, US. The financing arrangement with MUFG Bank, one of the world’s leading project finance lenders, includes a construction loan, a tax equity bridge loan, letters of credit and term loan facilities to support both construction and long-term operation of the Boxcar pr...
The financing of the Boxcar project by MUFG Bank highlights growing confidence in large-scale energy storage investments as a critical component of grid reliability and resilience, particularly in Texas where extreme weather events have tested system resilience. The success of this project reflects esVolta's track record in Texas, where it has been developing, building, and operating standalone battery energy storage assets since 2017. The pattern detected: ARC-0036 Expertise Halo (MUFG Bank is ...