Deutsche Bank and First Citizens Bank Close $315.7 Million Financing for Four Texas Battery Energy Storage Projects
All four projects are expected to be operational later this year and collectively represent 730 MW / 1,049 MWh of capacity owned by a battery energy storage-focused fund at UBS Asset Management. Battery energy storage systems are increasingly seen as a key component for supporting grid stability and reliability, as well as for maximizing the value of renewable power generation.
“We see expanding opportunities for battery storage systems, such as these four projects in
“We are pleased to support UBS Asset Management’s storage investment strategy within its infrastructure portfolio,” said Jeremy Eisman, Managing Director and Head of Infrastructure & Energy Financing at Deutsche Bank. “This financing builds upon Deutsche Bank’s leading track record of supporting renewable project developers at both the asset and platform level.”
“These four battery projects represent a significant addition to the battery energy storage capacity of the
Deutsche Bank's Infrastructure & Energy Financing group provides structured financing solutions for clients across the renewable, power and energy sectors.
First Citizens Energy Finance leverages its deep industry knowledge and expertise to offer comprehensive financing solutions for renewable and conventional power generation. The unit manages a large, diverse portfolio that includes investments in all asset classes across the energy sector.
About UBS Asset Management
UBS Asset Management is a large-scale asset manager with a presence in 23 markets. It offers investment capabilities and investment styles across all major traditional and alternative asset classes to institutions, wholesale intermediaries and wealth management clients around the world. It is a leading fund house in
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240904314164/en/
MEDIA RELATIONS:
Meredith Zaritheny
Deutsche Bank
929.742.4613
meredith.zaritheny@db.com
John M.
First Citizens Bank
212-461-5507
john.moran2@firstcitizens.com
Source: Deutsche Bank