en.Wedoany.com Reported - Independent renewable energy developer Pathway Power has secured $150 million in senior secured financing through funds managed by AB CarVal. The capital will be used to support late-stage development needs of its U.S. hybrid (solar-plus-storage) and battery storage asset portfolio, including grid interconnection, power purchase agreements, equipment deposits, and other pre-construction and construction-phase equity costs.

Pathway Power CEO Jam Attari expressed pleasure in partnering with AB CarVal, stating that their deep expertise in renewable energy financing and confidence in the company's project pipeline serve as a strong validation of the project fundamentals and approach to clean energy capacity construction. AB CarVal Managing Director Alex Flamm noted that Pathway's robust portfolio of hybrid solar and storage assets is expected to provide power generation and grid stability within key regional transmission organizations, including the Southwest Power Pool and the Midcontinent Independent System Operator. These projects help address load growth driven by data centers and reshoring industries in relevant markets, and he looks forward to groundbreaking in the coming months.

This financing from AB CarVal-managed funds was completed concurrently with a separate equity investment in Pathway Power. Founded in 2022 and headquartered in San Diego, California, Pathway Power's U.S. pipeline includes 13 hybrid storage and battery energy storage system projects totaling approximately 3.2 GWac. Its management team has completed over 70 mergers and acquisitions and developed 40 GW of projects over the past two decades. Legal counsel Norton Rose Fulbright represented AB CarVal in this transaction.

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