Financial close for 310 MW/640 MWh energy storage Project in USA

Nexus Renewables Inc. has successfully closed financing deals worth approximately US$40 million, aimed at supporting a 310 MW/640 MWh portfolio of battery energy storage projects in the USA. The funds will be used to construct a 10 MW/40 MWh battery energy storage system in Fairfield, California, and advance the development of the rest of the company's portfolio, which includes a 300 MW/600 MWh battery energy storage system located near Houston, Texas.

Nexus secured a US$13.3 million senior secured loan from Aiga Capital Partners and US$14.5 million of project-level financing from Synovus Bank. Additionally, the company received a US$10.8 million tax equity commitment led by Greenprint Capital.

Nexus Renewables is a developer, owner, and operator of renewable energy focusing on solar and energy storage. The company is founded with a vision to create a clean and sustainable future for the communities.