en.Wedoany.com Reported - Independent power producer (IPP) Pathway Power has secured $150 million in debt financing to support the late-stage development and construction of its battery energy storage system (BESS) portfolio in the United States. The company is headquartered in California.

This financing round is led by AB CarVal, with funds covering interconnection, power purchase agreements (PPAs), equipment deposits, and other project costs.

Since its founding in 2022, Pathway Power has primarily focused on hybrid and energy storage projects. The company's current project pipeline includes 13 hybrid and battery energy storage (BESS) projects, totaling 3.2 GW (AC) across the United States.

Jam Attari, CEO of the company, stated that Pathway Power is pleased to partner with AB CarVal, which serves as its facility lender. Attari said: "Their deep expertise in renewable energy financing and confidence in our project pipeline are significant endorsements of our project fundamentals and approach to building clean energy capacity. We look forward to putting these funds to work."

Since 2017, AB CarVal has invested over $4.5 billion in energy transition investments, with approximately $22 billion in assets under management. Alex Flamm, Managing Director at AB CarVal, noted that Pathway's strong portfolio of hybrid solar and energy storage assets will provide power generation and grid stability in key regional transmission organizations (RTOs). These RTOs include the Southwest Power Pool, MISO, California ISO, PJM, and ERCOT. Flamm added that this financing will support these projects in addressing load growth from data centers and reshored manufacturing in these congested markets, and looks forward to seeing these projects break ground in the coming months.

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