Spearmint Energy closes $200 million credit facility via Aiga Capital

By Marisa Wong

Los Angeles, June 12 – Spearmint Energy closed a $200 million credit facility with Aiga Capital Partners, according to a press release.

The term loan will support the development of Spearmint’s 1.2 GW / 2.4 GWh portfolio of BESS assets in Texas’ Ercot power market and continued expansion of the company’s utility-scale storage portfolio across the United States. Spearmint’s portfolio of BESS assets in Ercot is currently comprised of a 300 MWh battery energy storage project known as Revolution and three battery energy storage projects, each with a target capacity of 300 MW, known collectively as Nomadic.

Javelin Capital and Paul Hastings LLP acted as financial adviser and legal counsel, respectively, to Spearmint. Holland and Knight served as legal counsel for Aiga.

Miami-based Spearmint is a renewable energy company focused on battery energy storage.

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