Powin Secures $200 Million in Debt Capital From KKR to Bolster Growth and Innovation in Energy Storage
Powin, a global leader in battery energy storage solutions, has secured a revolving credit facility of up to $200 million primarily from insurance accounts managed by KKR. This facility will support Powin's working capital needs, drive innovation, and enhance financial flexibility as it expands its leadership in the storage industry.
The strengthened capital position improves Powin's ability to meet surging demand in the rapidly expanding global energy storage sector. Bloomberg New Energy Finance forecasts the energy storage market to exceed 100 gigawatt-hours of capacity in 2024, growing at an annual rate of 21% to reach 442 gigawatt-hours by 2030.
Powin CEO Jeff Waters expressed excitement about KKR's support, stating it will enable the company to accelerate expansion, drive innovation, and maximize customer value. The strategic liquidity package underscores investor confidence in Powin's vision and future growth, with equity investors including Greenbelt Capital Partners, Trilantic, and Energy Impact Partners.
Powin, un leader globale nelle soluzioni di stoccaggio energetico delle batterie, ha ottenuto una linea di credito rotativa fino a 200 milioni di dollari principalmente da conti assicurativi gestiti da KKR. Questa linea di credito supporterà le esigenze di capitale circolante di Powin, stimolerà l'innovazione e migliorerà la flessibilità finanziaria mentre espande la sua leadership nell'industria dello stoccaggio.
La posizione di capitale rafforzata migliora la capacità di Powin di soddisfare la crescente domanda nel settore dello stoccaggio energetico globale in rapida espansione. Bloomberg New Energy Finance prevede che il mercato dello stoccaggio energetico supererà 100 gigawattora di capacità nel 2024, con una crescita annuale del 21% per raggiungere 442 gigawattora entro il 2030.
Il CEO di Powin, Jeff Waters, ha espresso entusiasmo per il supporto di KKR, affermando che ciò permetterà all'azienda di accelerare l'espansione, stimolare l'innovazione e massimizzare il valore per i clienti. Il pacchetto di liquidità strategica sottolinea la fiducia degli investitori nella visione e nella crescita futura di Powin, con investitori in capitale di rischio, tra cui Greenbelt Capital Partners, Trilantic e Energy Impact Partners.
Powin, un líder global en soluciones de almacenamiento de energía en baterías, ha asegurado una línea de crédito revolvente de hasta 200 millones de dólares principalmente de cuentas de seguros gestionadas por KKR. Esta línea apoyará las necesidades de capital de trabajo de Powin, impulsará la innovación y mejorará la flexibilidad financiera a medida que expande su liderazgo en la industria del almacenamiento.
La posición de capital fortalecida mejora la capacidad de Powin para satisfacer la creciente demanda en el rápidamente expandido sector global de almacenamiento de energía. Bloomberg New Energy Finance prevé que el mercado de almacenamiento de energía superará 100 gigavatios-hora de capacidad en 2024, creciendo a una tasa anual del 21% para alcanzar 442 gigavatios-hora para 2030.
El CEO de Powin, Jeff Waters, expresó su entusiasmo por el apoyo de KKR, afirmando que permitirá a la empresa acelerar la expansión, impulsar la innovación y maximizar el valor para los clientes. El paquete de liquidez estratégica subraya la confianza de los inversores en la visión y el crecimiento futuro de Powin, con inversores de capital que incluyen a Greenbelt Capital Partners, Trilantic y Energy Impact Partners.
Powin은 배터리 에너지 저장 솔루션의 글로벌 리더로서 주로 KKR이 관리하는 보험 계좌로부터 2억 달러까지의 회전 신용 시설을 확보했습니다. 이 시설은 Powin의 운영 자본 필요를 지원하고 혁신을 추진하며 저장 산업에서의 리더십을 확장하는 데 있어 재정적 유연성을 높이는 데 도움을 줄 것입니다.
강화된 자본 구조는 Powin이 빠르게 성장하는 글로벌 에너지 저장 부문의 증가하는 수요를 충족할 수 있는 능력을 개선합니다. 블룸버그 뉴 에너지 파이낸스는 에너지 저장 시장이 2024년까지 100기가와트시의 용량을 초과할 것이라고 예측하며, 연평균 21%의 성장률로 2030년까지 442기가와트시에 이를 것으로 전망하고 있습니다.
Powin의 CEO인 Jeff Waters는 KKR의 지원에 대해 큰 기대를 나타내며, 이를 통해 회사가 확장을 가속화하고 혁신을 추진하며 고객 가치를 극대화할 수 있을 것이라고 밝혔습니다. 이 전략적 유동성 패키지는 Powin의 비전과 미래 성장에 대한 투자자 신뢰를 강조하며, 지분 투자자에는 Greenbelt Capital Partners, Trilantic, Energy Impact Partners가 포함됩니다.
Powin, un leader mondial dans les solutions de stockage d'énergie par batterie, a obtenu une ligne de crédit renouvelable allant jusqu'à 200 millions de dollars principalement auprès de comptes d'assurance gérés par KKR. Cette ligne de crédit soutiendra les besoins de fonds de roulement de Powin, stimulera l'innovation et améliorera la flexibilité financière alors qu'elle élargit son leadership dans l'industrie du stockage.
La position de capital renforcée améliore la capacité de Powin à répondre à la demande croissante dans le secteur mondial du stockage d'énergie, en rapide expansion. Bloomberg New Energy Finance prévoit que le marché du stockage d'énergie dépassera 100 gigawattheures de capacité en 2024, avec une croissance annuelle de 21 % pour atteindre 442 gigawattheures d'ici 2030.
Le PDG de Powin, Jeff Waters, a exprimé son enthousiasme pour le soutien de KKR, affirmant que cela permettra à l'entreprise d'accélérer son expansion, de promouvoir l'innovation et de maximiser la valeur pour les clients. Le package de liquidité stratégique souligne la confiance des investisseurs dans la vision et la croissance future de Powin, avec des investisseurs en capital tels que Greenbelt Capital Partners, Trilantic et Energy Impact Partners.
Powin, ein globaler Anbieter von Energiespeicherlösungen, hat eine Revolvierende Kreditlinie von bis zu 200 Millionen Dollar gesichert, hauptsächlich über Versicherungskonten, die von KKR verwaltet werden. Diese Kreditlinie wird Powins Bedürfnisse im Bereich Betriebskapital unterstützen, Innovation vorantreiben und die finanzielle Flexibilität erhöhen, während das Unternehmen seine Führungsrolle in der Speicherindustrie ausbaut.
Die verbesserte Kapitalposition steigert Powins Fähigkeit, der steigenden Nachfrage im sich schnell entwickelnden globalen Energiespeichersektor gerecht zu werden. Bloomberg New Energy Finance prognostiziert, dass der Markt für Energiespeicherung bis 2024 über 100 Gigawattstunden Kapazität erreichen wird, wobei er mit einer jährlichen Rate von 21 % auf 442 Gigawattstunden bis 2030 anwachsen wird.
Powin CEO Jeff Waters äußerte seine Begeisterung über die Unterstützung von KKR und erklärte, dass dies dem Unternehmen ermöglichen werde, die Expansion zu beschleunigen, Innovationen voranzutreiben und den Kundenwert zu maximieren. Das strategische Liquiditätspaket unterstreicht das Vertrauen der Investoren in Powins Vision und zukünftiges Wachstum, wobei Eigenkapitalinvestoren wie Greenbelt Capital Partners, Trilantic und Energy Impact Partners beteiligt sind.
- Secured $200 million revolving credit facility from KKR
- Strengthened capital position to meet surging demand in energy storage sector
- Improved ability to seize market opportunities and drive innovation
- Enhanced financial flexibility for expansion
- Strong investor confidence in Powin's vision and future growth
- None.
Insights
The
The energy storage market's projected growth to 442 gigawatt-hours by 2030, with a
While this news is positive for Powin, the direct impact on KKR (NYSE: KKR) is likely to be minimal given the size of the deal relative to KKR's
Powin's securing of this credit facility is a testament to the growing importance of energy storage in the global transition to renewable energy. As solar and wind power generation increases, the need for reliable, large-scale energy storage becomes critical for grid stability and resilience. Powin's focus on battery energy storage systems (BESS) positions them at the forefront of this important sector.
The company's 500MWh energy storage system deployed in California demonstrates their capability to deliver utility-scale projects. This new funding will likely accelerate their ability to take on more and larger projects, potentially establishing Powin as a key player in the energy transition.
However, the energy storage market is becoming increasingly competitive, with both established players and new entrants vying for market share. Powin will need to leverage this capital effectively to maintain technological leadership and cost competitiveness. The backing of KKR and other prominent investors suggests confidence in Powin's ability to execute, but success is not guaranteed in this fast-evolving sector.
Powin's 500MWh energy storage system deployed in
This strengthened capital position improves Powin’s ability to seize the immense market opportunity and meet the surging demand in the rapidly expanding global energy storage sector. Bloomberg New Energy Finance forecasts that the energy storage market will exceed 100 gigawatt-hours of capacity in 2024 and is poised to grow at an annual rate of
“We are excited to have KKR, a renowned leader in the investment community, supporting our mission to be the most trusted energy storage partner in the industry,” said Jeff Waters, CEO of Powin. “This facility enables us to accelerate our expansion, drive innovation, and maximize value for our customers, reinforcing our commitment to advancing a sustainable energy future.”
“Powin stands out as a leader and innovator in the clean energy space. We are proud to support them and their efforts to expand the use of battery energy storage systems through our deep experience in Asset-Based Finance,” said Sam Mencoff, a Director at KKR.
This strategic liquidity package underscores the strong confidence that investors have in Powin's vision and future growth. Equity investors in the company include Greenbelt Capital Partners, Trilantic, and Energy Impact Partners. Guggenheim Securities, LLC, a renowned global investment and advisory firm, played a pivotal role as Powin’s financial advisor, facilitating the successful completion of this capital raise.
About Powin:
At Powin, we are advancing the next frontier of energy and changing the way we power our daily lives by ensuring access to clean, resilient, and affordable power. With 17 GWh of projects deployed and under construction, we are a leading and trusted energy storage provider dedicated to creating an exceptional customer experience through end-to-end energy storage solutions. As a global energy storage platform provider, we offer fully integrated battery solutions, software, and services to optimize grid performance and enable the transition to cleaner energy sources. To learn more, please visit www.powin.com.
About KKR:
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241002515729/en/
Kate
powin@pancomm.com
Source: Powin, LLC
FAQ
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