The Energy Risk Awards’ Deal of the Year honor has gone to Intersect Power, LLC. The award honors Intersect’s $837 million financing of the 2024 Texas battery energy storage systems (BESS) project. The funds financed the construction and operation of 1 GWh of three standalone BESS, making it one of the biggest battery storage agreements in the United States to date.
“We’re proud to be recognized by the Energy Risk Awards for a transaction that pushed the boundaries of conventional project finance,” stated Sheldon Kimber, CEO and founder of Intersect Power. “Our team structured and closed a complex deal that incorporated offtake, procurement, tax equity and debt components in less than six months, a pace that is unheard of in this industry. That level of commercial and financial ingenuity is what enables us to rapidly build co-located renewables and storage projects that unlock a fast, scalable, and cost-effective solution to fuel the growth of the industries of tomorrow, including AI data centers.”
A single transaction that exhibits innovation, impact, and executional excellence is recognized as the Deal of the Year in the Energy Risk Awards, which honor excellence in international commodities markets. Winners are praised for having a significant impact on transactions involving trade finance, infrastructure investment, M&A, structured products, or innovative investment vehicles that produce significant results for customers and the market at large.
At its solar + storage facilities, Intersect develops, owns, and runs some of the biggest BESS resources in the nation. By capturing value during times of market volatility and high prices and reducing exposure to downturns, these assets are intended to provide steady financial performance. Intersect intends to construct an additional 4 GW of solar PV and 10 GWh of battery storage in 2025, totaling about $9 billion in assets, so this stability is crucial. These resources will contribute to additional grid-tied energy resources and help meet the unprecedented energy demands of AI data centers.
Intersect is on an aggressive growth trajectory and is looking for talented professionals.
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