Nexus Renewables announced the closing of a USD13.3 million senior secured loan led by Aiga Capital Partners, a USD14.5 million project-level financing led by Synovus Bank, a CAD5.0 million commitment for privately-placed preferred shares, and a USD10.8 million tax equity commitment led by Greenprint Capital.
Nexus Renewables will use proceeds from the financings to construct a 10MW/40MWh battery energy storage system (BESS) located in Fairfield, California.
Nexus Renewables will also the funding for the development of the company’s portfolio, which includes a 300MW/600MWh BESS project located near Houston, Texas.