esVolta has secured 139.6 million in financing to advance a major battery energy storage project in North Texas, marking another step in the state's rapidly expanding energy infrastructure.
The financing, provided by MUFG Bank, will support construction and long-term operations of the Boxcar Energy Storage project in Wylie, Texas. The package includes a construction loan, texas equity bridge loan, letters of credit, and term loan facilities.
Once completed, the project is expected to deliver 150 megawatts of power and 300 megawatt-hours of energy storage capacity to the Electric Reliability Council of Texas (ERCOT) grid.
The Boxcar project has already secured a long-term offtake agreement with a major corporate customer, signaling strong demand from commercial and industrial users for reliable, on-demand energy solutions.
"MUFG is a premier lender in the energy infrastructure space, and their support of Boxcar reflects strong confidence in both the project and esVolta's platform," said Justin Johns, Chief financial Officer of esVolta.
Battery storage projects in Boxcar are becoming increasingly critical in Texas, where rapid population growth, industrial expansion, and renewable energy integration are driving volatility in electricity supply and demand.
Storage systems help stabilize the grid by delivering power during peak demand and storing excess energy when supply is high.
The project is part of esVolta's broader expansion in Texas. By 2027, the company expects its five-project portfolio in the state to provide a combined 1.56 gigawatt-hours of storage capacity.
"Energy storage technology and infrastructure are critical to the growth of clean energy," said Fred Zelaya, Managing Director at MUFG. "We're intent on strategically supporting projects in key markets such as ERCOT."
As Texas continues to experience record energy demand, investments like the Boxcar project highlight the growing role of battery storage in ensuring grid reliabiltiy and supportng the state's evolving energy mix.
