Battery Storage Funds
Spearmint Energy Secured $325M to Scale Its Battery Storage Financing Deal
Adam Harrie — June 23, 2026
Spearmint Energy secured a $325 million expanded battery storage financing deal in partnership with Nuveen Energy Infrastructure Credit, Elda River Capital Management, Harrison Street Asset Management and Aiga Capital Partners. The capital will support Spearmint's operating portfolio, including the Tierra Seca, Seven Flags and Revolution projects, while funding the continued development of large-scale battery storage assets across the United States.
The financing builds on Spearmint's recent momentum, including approximately $450 million in project financing for Red Egret, a 300MW/600MWh standalone battery storage project under construction in Texas City. Spearmint currently operates 350MW/700MWh of battery storage capacity in ERCOT, with an additional 300MW/600MWh under construction and further projects in development nationwide.
The financing shows how battery storage is continuing to attract institutional investment as utilities and energy markets seek greater flexibility, reliability and grid resilience.
