Spearmint closes $200m Aiga credit facility

June 13, 2023

Miami-headquartered energy storage developer Spearmint Energy has closed a $200 million credit facility with investment management firm Aiga Capital Partners.

The term loan will support the development of Spearmint’s 1.2 GW / 2.4 GWh portfolio of battery energy storage assets in Texas’ ERCOT power market as well as the continued expansion of the company’s utility-scale storage portfolio across the US. 

Spearmint’s portfolio of battery storage 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 served as financial advisor and legal counsel, respectively, to Spearmint. Holland and Knight served as legal counsel for Aiga.