April 25, 2024 04:41 PM Eastern Daylight Time
MIAMI & NEW YORK & HOUSTON (BUSINESS WIRE) On.Energy, a growing North America electric power asset owner and proven end-to-end integrator of battery energy storage systems (“BESS”), today announced it has closed a senior secured first lien facility with Lombard Odier Investment Managers (“LOIM”) on behalf of funds under its management, including the LOIM Sustainable Private Credit Strategy (“Strategy”). The facility will help On.Energy amplify and accelerate project development efforts as the company continues to expand its U.S. asset base, including a further 400MWh portfolio in ERCOT and a combined 1.1 GWh in development across California and Texas. The financing is architected to support costs typically subject to less-efficient financing in market today, including site control, engineering and interconnection, project and interconnection bonding, and project M&A.