Intersect Wins Deal Of The Year At Energy Risk Awards For $837 Million Battery Energy Storage Deal

Intersect Power, LLC has received the Deal of the Year award at the Energy Risk Awards for its landmark 2024 battery energy storage systems (BESS) project financing in Texas. The award highlights the company’s successful arrangement of $837 million in funding to support the construction and operation of three standalone BESS projects with a combined capacity of 1 GWh. This financing represents one of the largest battery storage deals in the United States to date and underscores Intersect Power’s role in advancing large-scale energy infrastructure.

The Energy Risk Awards recognize outstanding achievements across the global commodities markets. The Deal of the Year category specifically honors a single transaction that demonstrates exceptional innovation, strategic impact, and flawless execution. Intersect Power’s award-winning deal reflects a significant contribution to infrastructure development and energy transition, showcasing the company’s ability to deliver value in a fast-evolving energy landscape.

Sheldon Kimber, CEO and founder of Intersect Power, stated, “We’re proud to be recognized by the Energy Risk Awards for a transaction that pushed the boundaries of conventional project finance. 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.”

As a leading developer, owner, and operator of energy assets, Intersect Power manages some of the country’s largest battery energy storage systems, integrated with solar facilities. These assets are built to perform reliably through market fluctuations, capturing revenue during high-demand periods while reducing exposure during downturns. This financial resilience is especially important as the company prepares to expand further, with plans to begin construction on an additional 4 GW of solar PV and 10 GWh of battery storage in 2025. Valued at approximately $9 billion, these future projects will play a critical role in meeting the growing energy needs of AI data centers and enhancing the availability of grid-connected renewable energy resources.