US-based Calibrant Energy Secures $145 Million Financing to Build Solar and Storage Projects

en.Wedoany.com Reported - On November 10, US on-site energy services company Calibrant Energy closed $145 million in debt financing, led by UK-based Investec, with participation from Citibank, Liberty Bank, and Siemens Financial Services. The funds will be used for solar and battery storage projects across multiple US power markets, covering both the refinancing of existing operating assets and support for new project construction. Among them, a 120 MWh battery storage project serving a large data center customer in the PJM power market has entered the site construction preparation phase.

This storage project addresses the power supply access needs of large data centers. As artificial intelligence computing operations expand, the electricity load of hyperscale data centers continues to grow, while grid interconnection and supporting transmission infrastructure often take considerable time to build. Calibrant plans to deploy on-site battery storage systems to give data centers greater flexibility in scheduling the timing and volume of power drawn from the grid, reducing pressure on the grid during peak hours and lowering the need for some transmission and distribution infrastructure expansion.

Calibrant adopts an integrated develop, invest, own, and operate model, providing on-site energy facilities for large power consumers. Customers bear no upfront capital investment for the storage systems; Calibrant handles project development and equipment construction, then provides energy assurance through long-term service arrangements. This model separates storage investment from the data center's own construction budget and also enables financial institutions to provide financing around operating assets and new project portfolios.

As of the announcement of this financing, Calibrant disclosed that its battery storage project portfolio exceeds 5.9 GWh, covering projects in operation, under construction, and under exclusive development agreements, including additional storage sites for the same large data center customer. The company is backed by Macquarie Asset Management and operates across US and Canadian markets.