Elevate Renewables Secures $50 Million Finance Facility For Solar And Battery Project

Elevate Renewables secured a $50 million Energy Transition Supplier Finance Facility arranged by Rabobank to support a solar and battery energy storage project contracted to power a data center.

Summary of transaction details:

• Deal Type: Energy Transition Supplier Finance Facility
• Transaction Amount: $50,000,000
• Company: Elevate Renewables
• Founder: Eric Cherniss
• Headquarters: Boston, Massachusetts
• Notable Investor: ArcLight Capital Partners

Elevate Renewables is focused on developing and operating energy infrastructure to meet rising electricity demand. The company's strategy includes building a portfolio of solar and storage assets. Recent developments involve the acquisition of the 150 MW/600 MWh Prospect Power Storage asset set for mid-2026 operations, and the selection of the Garden State Reliability Project in New Jersey by the state’s Board of Public Utilities.