FINWIRES · TerminalLIVE
FINWIRES

Elevate Renewables Secures $50 Million Financing for Solar, Battery Storage Project

By

Elevate Renewables, an energy infrastructure developer and portfolio company of infrastructure investor ArcLight Capital Partner, on Monday said it has secured a $50 million financing facility intended to support a solar and battery energy storage project contracted to power a data center.

Rabobank arranged the $50 million Energy Transition Supplier Finance Facility, that will support the project's near term execution as well as the company's long term growth, the company said in a statement.

Earlier in January, the company purchased the under-construction Prospect Power Storage, a 150-megawatts/600-megawatt-hour standalone battery storage asset in the PJM Interconnection in Rockingham County, Virginia. It is slated to commence operations in mid-2026, the statement said.

The company disclosed that its Garden State Reliability Project, also known as Two Rivers Storage, has been selected by the New Jersey Board of Public Utilities for the Garden State Energy Storage Program.

The 150 MW/ 600 MWh battery storage facility will be developed at the Bergen Generating Station in Ridgefield, New Jersey, the statement added.

Related Articles

Commodities

SAF Usage Jumped 430% in 2025, Cathay Pacific Airways Says

Cathay Pacific Airways said its use of sustainable aviation fuel, both in Hong Kong and worldwide, increased by 430% in 2025 compared with the previous year.In its Annual Sustainability Report, Cathay Pacific reported using 36,242 metric tons of SAF in 2025, sourced through partnerships with global SAF suppliers.The company's push to use more SAF follows the Hong Kong SAR Government's decision to set a 1-2% SAF usage target at Hong Kong International Airport by 2030, along with plans for local blending facilities and production plants in the Greater Bay Area, the report stated.For example, Cathay Pacific and Sinopec entered into an agreement to uplift SAF produced in the Chinese Mainland at Hong Kong International Airport. Additionally, the company partnered with SK Energy to secure 20,000 metric tons of SAF supply in South Korea from 2025 to 2027.Cathay Pacific aims to make SAF more accessible and cost-competitive by developing next-generation technology and joining the US$150 million Breakthrough Energy Ventures Fund, a joint venture of the oneworld Alliance and Breakthrough Energy Ventures.

Commodities

RBC Sees Strong Clean Energy Demand, Flags Tariff, Cost Pressures Ahead

Clean energy stocks are up about 8.5% year-to-date, with strong demand supporting elevated valuations despite policy and geopolitical risks, RBC Capital Markets strategists said in a Friday note.The sector has also gained roughly 5% over the past three months, with sustained demand and lower risk of major policy shifts supporting investor confidence, the report said.RBC expects first-quarter earnings to reflect continued strong demand and positive booking trends, though upside surprises may be limited given expectations are already elevated.Tariff uncertainty and the Iran conflict are shaping key sector debates, including higher freight-driven cost pressures, tax credit market uncertainty, and potential demand impacts, RBC said.Macro conditions remain supportive, driven by rising datacenter demand, longer lead times for gas generation, and a growing solar project backlog, which is up about 4% over the year.Tax credit markets remain a key focus, with prior uncertainty slowing activity in late 2025, though improving clarity is expected to support pricing recovery into 2026, the note said.However, lingering concerns around foreign entity restrictions and low investor risk appetite could weigh on residential solar pricing and financing models, RBC added.Rising oil prices are also creating cost pressures, with US trucking rates up about 35% since year-end 2025, potentially impacting margins, particularly for companies with higher shipping exposure.Freight costs could represent a larger burden for certain firms, with shipping accounting for roughly 9% to 10% of revenue for some compared with 3% to 4% for others, the report said.In Europe, elevated fossil fuel prices and energy security concerns linked to Iran tensions could accelerate renewable adoption, following earlier growth that tripled solar capacity from 2020 to 2023.Policy developments remain critical, with upcoming tariff decisions on solar imports and potential new trade measures expected to influence supply chains and pricing, RBC said.A polysilicon investigation could also impact costs, as China accounts for about 95% of global supply and offers significantly lower prices than other regions, the report noted.Despite these uncertainties, valuations remain strong and are supported by continued order flow, though elevated oil prices could pose a growing headwind for some manufacturers, RBC said.

Commodities

US Natural Gas Update: Futures Extend Losses in After-Hours Trade

US natural gas futures continued to decline in after-hours trade on Monday as robust supply collides with weak shoulder-season demand.The front-month Henry Hub contract and the continuous futures both fell 0.79% to $2.627 per million British thermal units.Prices rose early Monday, tracking crude oil higher on renewed concerns about energy shipments after US President Donald Trump's order to block the Strait of Hormuz after weekend peace talks with Iran collapsed, according to Bloomberg.By midday, the move reversed as fundamentals took over again. Prices slipped back toward-and then below-the 17-month low set last week, as weak demand in the seasonal shoulder period outweighed geopolitical fears.Gelber & Associates explained on Monday: "The biggest demand shifts are a jump in power burn to 33.5 Bcf/d and a sharp fade in ResComm to 12 Bcf/d, while on the supply side production is holding high at 110.2 Bcf/d and Canadian imports have eased to 5 Bcf/d. That leaves total supply at 115.2 Bcf/d against total demand of 104 Bcf/d, with the net balance widening to 11.2 Bcf/d."Barchart cited data from The Commodity Weather Group, which said above-normal temperatures across the eastern two-thirds of the US are expected to ease back toward seasonal norms starting Apr. 18 and continue through Apr. 27.On the export side, BNEF said LNG feedgas demand was a strong 19.9 Bcf/d, up 1.5% from the previous week.