Pathway Power Secures $150 Million from AB CarVal for Energy Storage Development
Pathway Power has secured a $150 million financing facility from AB CarVal, aimed at advancing hybrid and energy storage projects. This funding is critical as electricity demand surges, particularly within the Southwest Power Pool (SPP) and Midcontinent Independent System Operator (MISO) regions.
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Pathway Power has finalized a $150 million senior-secured financing facility from AB CarVal, intended for late-stage development of its hybrid and battery energy storage projects across the U.S. The funding will support essential activities such as interconnection costs, power purchase agreements, and construction equity needs.
Concurrently, a separate equity investment further bolsters Pathway Power's financial position as it advances its portfolio of 13 projects totaling approximately 3.2 GWac. The investment reflects confidence in Pathway's strategy to address rising electricity demand driven by data centers and reshoring. This financing is timely, given the increasing pressure on power markets for reliable energy solutions.
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