On.Energy Closes $40 Million of Construction and Permanent Financing to Build Palo Verde Battery Storage Portfolio in Texas

On.Energy has reached Financial Close on the Palo Verde Portfolio - constructing four battery storage projects in ERCOT which will come online in 2024. In addition to providing our proven top-tier integration services, On.Energy will own, operate and dispatch the facilities. 

We are excited to have worked closely with our partner Live Oak Bank to secure a $40M USD construction loan and permanent facility. 

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Thanks to our partners for their support: 

Live Oak Bank - Kevin Rooney, Derek Welsh, Caroline Bunnell Gann

Wilson Sonsini Goodrich & Rosati - Jason Slagle, Scott Zimmermann

Ultra Capital LLC - Kristian Hanelt, Brandon Beehler, PE

CenterPoint Energy