Advantage Capital Closes $158M Investment in Medway Battery Storage Project
Advantage Capital has finalized a $158 million tax equity investment in the 250MW Medway Grid Energy Battery Storage project in Massachusetts. This project, the largest of its kind in the state, will enhance energy reliability and contribute to local economic growth.
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Advantage Capital's $158 million investment in the Medway Grid Energy Battery Storage project aims to support energy reliability in Massachusetts. This 250MW system is the largest battery storage facility in the state and ranks among the largest in the ISO-NE region.
Developed by Vitol's VC Renewables, the project utilizes federal Investment Tax Credits (ITC) to finance the development of clean energy technologies. This facility will provide critical grid support during peak demand periods while generating property tax revenues for the local community. The growth of battery storage in ISO-NE reflects a trend toward meeting clean energy standards and enhancing grid flexibility, with 37 projects currently under development in the region.
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