September 28, 2026
AWM provides tailored cable management solutions for PV and BESS that are durable and reliable.
This week on Projects Weekly, Energy Vault has acquired more than 2.3 GW of BESS projects from Goshe Energy Storage in a consequential deal for the U.S. energy sector. In Arizona, GridStor has closed a debt financing package for its White Tank project with a number of investment partners. NorthStar Clean Energy’s Hart Solar Project finished construction in Michigan last week, supplying more than 200 GWh of renewable energy across the Mitten State. Slightly southwest in central Illinois, PureSky Energy launched its first community solar farm in the Land of Lincoln. In Colorado, Cloudbreak Energy Partners and NORD/LB closed on financing for the Pueblo Battery Resource installation in the Black Hills, and Apex and Meta agreed to a seventh solar-related deal in Texas. Finally, Madison Energy Infrastructure announced a new community solar initiative with help from partners across the U.S. Keep reading for all the details and more!
GridStor and investment partners close debt financing for Arizona battery project
Utility-scale battery energy storage system (BESS) developer GridStor has secured a debt financing agreement worth $220 million for development of its White Tank project in Arizona.
Signed in conjunction with KeyBanc Capital Markets, ING Capital, and Zions Capital Markets, the financing will go toward construction of 100 MW / 400 MWh of renewable energy for the Grand Canyon State. Aiming for a 2027 energization date, the project will operate within a 20-year tolling agreement with Arizona Public Service, the state’s largest electrical utility.
“We are proud to work with three distinguished financial partners to complete the financing of the White Tank Reliability Project,” says Chris Taylor, CEO, GridStor. “Trusted partnerships like these are critical for advancing large-scale power supply and infrastructure to meet surging demand for new power capacity. We thank ING, KeyBanc Capital Markets, and Zions for placing their trust in us.”
Bright spot: The financial close marks GridStor’s fourth major financing milestone over the past year. The company now boasts a project pipeline of more than 3 GW of battery storage projects either in late-stage development or under construction across much of the U.S.
Filipe Barreto, director of ING, says the growth of renewable energy, especially batteries, provides a prime opportunity for investment banking firms like his.
“The rapid growth of renewable generation is driving increasing demand for energy storage solutions, making BESS assets an integral part of energy infrastructure and one of the primary themes in energy financing,” he says. “This transaction reflects ING’s confidence in the sector and our commitment to financing energy infrastructure that enhances grid reliability and supports the transition to a lower-carbon energy future. We look forward to building on this success with GridStor.”
Hart Solar Project comes online in Michigan
NorthStar Clean Energy has announced the completion of the Hart Solar Project, a new 120 MW utility-scale solar installation in Oceana County, Michigan.
Officials expect the new installation will generate more than 200 GWh of electricity every year, powering more than 21,000 homes throughout the Mitten State. The project will avoid about 96,000 metric tons of carbon emissions each year, officials add, operating through power purchase agreements with Executive Energy Services and the Michigan Public Power Agency (MPPA) to serve customers across the region.
“Hart Solar is an important investment in Michigan’s energy future and demonstrates how strong partnerships can help deliver clean energy solutions to communities across our state,” says Brian Hartmann, president and CEO of NorthStar Clean Energy. “By working with organizations like Executive Energy Services and MPPA, we’re helping meet customer energy goals while strengthening Michigan’s energy infrastructure with additional renewable generation.”
Bright spot: The new project also aims to strengthen the state’s communities through a number of economic investments and partnerships. NorthStar officials say the project created more than 300 construction jobs, making “significant contributions” to the state’s economy throughout its development.
“Oakland County and small businesses across Michigan are expected to save on electric supply charges through the Hart Solar Project,” says Robert Bernardi of Executive Energy Services. “Through a partnership with NorthStar Clean Energy, Oakland Schools and 45 other public school districts statewide are projected to save approximately $25 million over a 10-year agreement.
“These savings will allow schools to redirect funds toward students, staff, and core educational priorities while advancing their clean energy goals.”
Cloudbreak Energy closes financing for Pueblo Battery Resource project
Energy developer and IPP Cloudbreak Energy Partners and NORD/LB have closed on $60 million in construction financing for the Pueblo Battery Resource energy storage project in Colorado.
The 50 MW / 200 MWh storage installation will be the first of its kind built in Black Hills mountain range territory, according to representatives. The project also marks Cloudbreak’s first foray into battery storage as a whole, which the company says paves the way for future storage development.
“This financing demonstrates Cloudbreak’s ability to finance and deliver on grid-scale storage assets,” says Alec Shobe, COO of Cloudbreak Energy. “Nord was the right partner for us on this deal, bringing both thoughtful deal structuring and storage-financing expertise to get Pueblo Battery Resource to this milestone. This transaction lays the foundation for the broader battery storage pipeline we’re building across the country.”
Bright spot: The financing deal “reflects NORD/LB’s continued commitment to supporting the energy transition through tailored financing solutions,” according to Sondra Martinez, head of originations for the Americas at NORD. As the first of its kind, the investment firm says the battery project represents a unique opportunity, not only for its bankers, but for the regional energy grid.
“The project represents an innovative battery storage solution supporting Black Hills Energy under a unique Build-Transfer structure,” says Sondra Martinez, head of originations for the Americas at NORD LB. “We appreciate the strong commitment and collaboration demonstrated by both Cloudbreak and Black Hills Energy throughout the process and look forward to building on these relationships.”
Energy Vault acquires gigawatt-scale Goshe Energy Storage portfolio
Grid-scale energy storage firm Energy Vault has made a move to purchase a portfolio of more than 15 utility-scale battery storage projects from Coloradan project developer Goshe Energy Storage.
Bright spot: In total, the projects account for more than 2.3 GW of BESS development, officials say. The project portfolio adds more than just energy, as the company’s team of BESS development and management professionals will also join Energy Vault’s ranks.
“This portfolio fits squarely within Energy Vault’s strategy of acquiring late-stage, de-risked development projects that can be moved efficiently toward construction and operation,” says Cory Magnuson, President of Asset Vault. “The team has a track record of originating and advancing high-quality BESS projects, and we’re glad to have them join us as we continue to scale our owned-asset portfolio across U.S. markets.”
Anchoring the portfolio is a duo of projects worth 150 MW and 200 MW of storage respectively. Set to reach commercial operation during Q1 2028, the projects will generate about $30 million in combined annual run-rate EBITDA once operational.
The deal expands Energy Vault’s development pipeline under its Asset Vault business segment, officials say. Additionally, the portfolio purchase bolsters the company’s strategy of financing, developing, owning, and subsequently operating storage and AI infrastructure assets around the U.S.
“Joining Energy Vault allows our team to continue the work we started – developing and delivering the storage projects the grid needs – with the backing of a large, vertically integrated and global platform,” says Goshe CEO Bailey McCallum. “We’re pleased that S2G will continue as a financing partner through this transition, and we look forward to seeing this portfolio through to construction and operation as part of Energy Vault’s platform.”
PureSky Energy launches first solar project in Illinois
PureSky Energy has launched its first community solar farm in Illinois, providing renewable energy to income eligible households in Ameren Corp.’s utility area.
Now operational, the 1.45 MWac project sits on about 36 acres of farmland in the Land of Lincoln. The project draws power from more than 3,360 individual solar panels, aiming to generate over 3.1 GWh for the community on an annual basis.
“Launching McLean 1 as our first project in Illinois—and dedicating it entirely to income-eligible households—is an important milestone for PureSky,” says Nicholas Topping, VP of community solar at PureSky Energy. “By participating in Illinois Solar for All and partnering with trusted local organizations, we’re ensuring that the clean energy transition delivers real, measurable benefits to the people who need them most.
“Projects like McLean 1 show how community solar can advance energy equity while strengthening local communities.”
Bright spot: The new solar farm is set to provide Bloomington, Illinois and the surrounding area with over $5.4 million in 30-year savings, officials say, while powering up to 439 homes. In total, the project will have the same environmental effect as removing 491 cars from the road.
“Affordable homeownership extends beyond the cost of housing itself,” says Tyler Wiggs, director of operations of Habitat for Humanity of McLean County. “Energy expenses can place a significant burden on household budgets, particularly for families with limited incomes. McLean 1 provides meaningful utility savings that can help families achieve greater financial stability while participating in Illinois’ clean energy future.”
Apex and Meta add 144 MW to energy partnership in Texas
Apex Clean Energy has announced another power purchase agreement with Mark Zuckerberg-led tech giant Meta for “exclusive rights to all environmental attributes associated with energy from the Starling Solar project in Gonzales County, Texas.”
This deal, the seventh between Apex and Meta, accounts for 144 MW of renewable energy from the project, officials say. That energy will add new generation to the local grid, with the companies’ combined portfolio now totaling about 1.2 GW across five states.
“Seven projects over nearly as many years speaks to a partnership built on shared principles of responsible building and disciplined execution,” says Apex CEO Ken Young. “Starling brings new capacity to Texas and lasting value to Gonzales County long after construction wraps.”
Bright spot: Starling Solar is set to create “significant economic benefits” for the south-central Texas community. Along with $27 million in tax revenue over the project’s lifetime, the site will create 400 to 450 jobs during construction and more than $26.3 million in landowner payments.
“The best clean energy projects are the ones the surrounding community feels the benefit of directly—in school funding, in landowner payments, in local hiring,” says Amanda Yang, head of clean and renewable energy for Meta. “Starling brings all of that to Gonzales County, along with new solar generation for a Texas grid.”
Madison Energy Infrastructure has kicked off its Community Infrastructure Initiative, aiming to develop an additional 1 GW of distributed energy generation capacity by 2028.
The company’s financial commitment will mobilize up to $2 billion in capital, officials say, to help meet the growing power demands of AI data centers. Additionally, the initiative aims to create and deliver “lasting benefits” for communities, including potentially major bill savings.
“AI requires power at a speed and scale we’ve never seen before, and building that infrastructure successfully requires more than capacity,” says Richard Walsh, CEO of Madison Energy Infrastructure. “Community Infrastructure is about helping AI labs and hyperscalers show up for communities, not just in them. We’ve spent years cultivating the right relationships, development capabilities, and national ecosystem needed to turn that idea into local energy infrastructure at scale.”
Bright spot: Madison already has a number of projects and partnerships underway, including 50 MW of standalone energy storage in Colorado, 16 MW under construction with the Denver International Airport, and other ongoing partnerships to supply distributed generation across the U.S.
“The buildout of AI infrastructure and data center capacity provides a unique opportunity to deliver clean energy and local benefits to communities across the country,” said Andrew Brodeur, VP of national real estate and the sustainability team leader at EdgeConneX. “We are excited to grow our partnership with Madison and show up as a force for good in the communities we call home.”
Tags: commercial and industrial, Community Solar, Financing, project, Projects Weekly, utility-scale
