Industry first project financing in the emerging behind-the-meter energy storage sector

Principal investment in battery storage development projects in California from Advanced Microgrid Solutions

Industry first project financing in the emerging behind-the-meter energy storage sector

Overview

The rapid growth and integration of renewable energy resources coupled with the retirement of baseload generators has created significant stress on portions of California’s grid. Recognising this, Macquarie Capital acquired a contracted 50MW in-development portfolio of commercial battery storage projects in California from Advanced Microgrid Solutions (AMS).

Our role

Macquarie agreed to finance up to $US200 million of project capital to design and construct multiple fleets of advanced energy storage projects at various large-load commercial, industrial and government host facilities. Following the acquisition, we established a bankable contractual framework to arrange and execute one of the largest project financings in the emerging behind-the-meter energy storage sector, an industry first for this type of asset in the US.

Value-add

We were able to secure this unique opportunity based on our sector and in-house development capabilities and comprehensive platform offering. Our deep expertise in infrastructure enabled us to structure a traditional project finance solution for the portfolio.