Calpine Corporation closes $1bn financing for 680MW Californian battery

January 15, 2024

US power company Calpine Corporation has closed a syndicated project financing totalling more than $1 billion to finance the development and construction of a 680 MW battery energy storage system complex in Menifee, Riverside County, California.

The project will be completed in five phases.

The financing received Climate Bond Certification as a green financing.

Calpine was represented by the law firm White & Case on the financing.