Latest news with #Microgrids
Yahoo
3 days ago
- Business
- Yahoo
NextNRG Appoints Michael Weisz to Strategic Advisory Board
Energy management firm NextNRG has appointed Michael Weisz to its strategic advisory board, the company announced Aug. 13. NextNRG delivers energy through the company's Next Utility Operating System. The company manages projects such as microgrids, infrastructure, wireless charging and batteries. Weisz is the founder and former CEO of Yieldstreet, an alternative investment platform. Under his leadership, Yieldstreet deployed more than $6 billion in asset investment. 'Michael's ability to build and scale market-leading platforms makes him an ideal advisor for NextNRG at this pivotal stage," said Michael D. Farkas, CEO of NextNRG.
Associated Press
27-01-2025
- Business
- Associated Press
Preferred Equity Pioneer Captona Announces Transaction for 1 GWh Energy Storage Portfolio in Texas
Captona, a diversified energy transition investment firm, today announced the completion of a preferred equity transaction in three standalone, utility-scale Battery Energy Storage Systems ('BESS') that will deliver nearly 1 GWh of energy across the state of Texas. The projects, which are currently under construction, were developed by esVolta, LP ('esVolta'), a leading developer, owner, and operator of utility-scale energy storage projects and a portfolio company of Generate Capital. Captona developed the financial structure and deployed capital from its equity partner for the investment. The investment follows a year of significant growth for Captona, which is now approaching $3 billion in enterprise value. This investment is one of several recent transactions Captona has completed or developed across storage, solar, and microgrids using the preferred equity structure it pioneered, including the structuring of an investment in a portfolio of four utility-scale BESS projects in Texas with UBS Asset Management and a portfolio of Scale Microgrids community solar and microgrid assets in New York. 'This transaction reflects our mission to advance innovation and reliability in the energy transition,' said Izzet Bensusan, CEO and Founder of Captona. 'These state-of-the-art storage systems will support grid resilience, enhance renewable energy integration, and help address the demand challenge in ERCOT. We are proud to partner with esVolta to drive the energy future forward.' This portfolio of battery energy storage systems will play a vital role in the region's power grid, delivering much needed and fast-responding clean energy resources to meet increasing demand for electricity in Texas. The three standalone systems — known as Anole, Desert Willow, and Burksol, located in Seagoville, Midlothian, and Afton, Texas, respectively — are expected to reach commercial operations in the first half of 2025. Kirkland & Ellis LLP served as legal advisor to Captona and its equity partner while Morgan Lewis & Bockius served as counsel to esVolta. About Captona Captona is a leading North America-focused energy transition investment firm driving the next era of growth in the clean energy future. With close to $3 billion in enterprise value, Captona owns and operates more than 35 renewable energy and clean fuels projects, with a focus on storage, solar, microgrids, fuel cell, and RNG technologies. Captona's diverse portfolio of energy transition assets and proven track record of delivering innovative financing structures make Captona a partner of choice for both investors and developers. For more information about Captona, visit Prosek Partners for Captona SOURCE: Captona Copyright Business Wire 2025. PUB: 01/27/2025 07:30 AM/DISC: 01/27/2025 07:32 AM
