esVolta secures $139.6m to support storage project construction

esVolta has secured $139.6m in project financing from MUFG Bank to support the construction and operation of the Boxcar Energy Storage project in Wylie, Texas, US. The facility, located north-east of Dallas, is designed to provide 150MW of power and 300 megawatt-hours (MWh) of energy storage to the Electric Reliability Council of Texas (ERCOT) market on completion. The financing arrangement includes a tax equity bridge loan, a construction loan, letters of credit and term loan facilities. esVolta has s ...