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Intersect Wins Energy Risk Awards Deal of the Year for $837 Million Battery Storage Transaction

via Business Wire

Intersect Power, LLC (“Intersect”) has been awarded the Energy Risk Awards’ Deal of the Year. The award recognizes Intersect’s 2024 Texas battery energy storage systems (BESS) project financing totaling $837 million. Representing one of the largest U.S. battery storage deals to date, the funds supported the construction and operation of 1 GWh of three standalone BESS.

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“We’re proud to be recognized by the Energy Risk Awards for a transaction that pushed the boundaries of conventional project finance,” said 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."

The Energy Risk Awards honor excellence in global commodities markets, with the Deal of the Year recognizing a single transaction that demonstrates innovation, impact, and executional excellence. Winners are celebrated for playing a pivotal role in deals involving infrastructure investment, M&A, trade finance, structured products, or novel investment vehicles that deliver meaningful outcomes for clients and the broader market.

Intersect develops, owns, and operates some of the country’s largest BESS resources at its solar + storage facilities. These assets are designed to deliver consistent financial performance by capturing value during periods of market volatility and elevated prices while minimizing exposure to downturns. This stability is critical as Intersect plans to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage in 2025, representing approximately $9 billion in assets. These assets will help meet the unprecedented energy demands of AI data centers and provide additional grid-tied energy resources.

Intersect is on an aggressive growth trajectory and is looking for talented professionals. For information on Intersect’s current open roles, visit https://jobs.lever.co/intersectpower.

About Intersect Power

Intersect Power is a clean energy company bringing innovative, scalable, and American-made, low-carbon solutions to its customers in global energy markets. We develop, own, and operate some of the world’s largest grid-tied clean energy resources, as well as co-located facilities for large industrial loads including data centers, e-fuels, and other energy-intensive products.

Intersect is laser-focused on the largest, most transformative clean energy projects that decarbonize the existing power grid and bring new loads to clean generation without the need for new transmission. Intersect is redefining the scope of the clean energy industry by enabling new pathways between clean electricity and the broader economy.

We have a base portfolio of 2.2 GW of operating solar PV and 2.4 GWh of battery storage in operation or construction, representing ~$4B in capital investments. We plan to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage representing ~$9B of assets in 2025.

To learn more, visit www.intersectpower.com.

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