Spearmint Energy Secures $47.5 Million Project Finance Term Loan from Manulife for Battery Energy Storage Project in ERCOT
Spearmint Energy (“Spearmint” or the “Company”), a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced it has successfully closed a $47.5 million project finance term loan from Manulife, a global financial services provider.
- Spearmint Energy (“Spearmint” or the “Company”), a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced it has successfully closed a $47.5 million project finance term loan from Manulife, a global financial services provider.
- The term loan will support the commercial operation of Revolution, Spearmint’s 150 MW, 300 MWh battery energy storage system (“BESS”) project located in West Texas’ ERCOT power market.
- Javelin Capital supported Spearmint as financial advisor on the transaction and Paul Hastings LLP served as legal counsel to Spearmint.
- The Day Pitney team included partner Paul Belval with assistance from Samantha M. Regan, Gemma R. Cashman and Sarah Thompson.