Energy Vault has secured a $137.5m (€122.7m) senior secured credit facility from Eagle Point Credit Management to finance behind-the-meter power infrastructure for hyperscale AI and data centre projects.
The financing, issued through Eagle Point’s infrastructure credit and equipment finance strategies, will fund the NYSE-listed energy infrastructure company’s procurement of 275MW in reciprocating engine generation capacity.
Jennifer Powers, principal and head of infrastructure credit at Eagle Point, said: “The rapid growth of AI infrastructure is creating significant demand for power capacity and the capital required to deploy that infrastructure at scale.
Equipment lead times are often a key constraint to getting power online, creating opportunities for investors that can provide tailored financing. Eagle Point’s experience across power and infrastructure positions us well to provide capital and structure solutions around these constraints.”
Cory Magnuson, president of asset vault at Energy Vault, said: “For hyperscalers, access to power and speed-to-power are increasingly determining where and how quickly AI infrastructure can be deployed.
“By securing 275 MW of reciprocating engine generation capacity for delivery beginning in 2027, together with dedicated financing supporting the procurement, we are taking greater control over two critical elements of execution: equipment availability and capital.”
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