Spearmint Energy Secures $92 Million Tax Equity Financing 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 $92 million tax equity investment in its Revolution project provided by Greenprint Capital Management (“Greenprint”), an investment firm dedicated to financing climate positive solutions and specializing in certificated renewable energy tax credit acquisitions.
- 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 $92 million tax equity investment in its Revolution project provided by Greenprint Capital Management (“Greenprint”), an investment firm dedicated to financing climate positive solutions and specializing in certificated renewable energy tax credit acquisitions.
- Greenprint’s investment in Revolution, a 150 MW, 300 MWh battery energy storage project located in west Texas, marks one of the first applications of the Investment Tax Credit structure for a standalone battery energy storage system following the passing of the Inflation Reduction Act.
- “We are pleased to partner with Greenprint, well-recognized for providing capital to leading companies in renewable energy, as we embark on the final stages of testing at Revolution.
- “Spearmint has proven itself as an innovative, strategic, and ahead-of-the-curve owner/operator of battery energy storage assets.