Intersect Power Receives $837M in Financing for Battery Energy Storage Facilities in Texas

by Taylor Williams

BEAVERTON, ORE. — Intersect Power, an Oregon-based clean energy company, has received $837 million in financing for the construction and operation of three standalone battery energy storage facilities in Texas. The facilities, the specific locations of which were not disclosed, are expected to be operational by the end of the year. The financing includes portfolio-level construction debt, tax equity and term debt financing. Morgan Stanley provided tax equity, and funds and accounts managed by HPS Investment Partners will be making construction debt and term debt investments. Deutsche Bank is partnering in the construction debt facility and providing the operational letters of credit to the projects.

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