Medway Grid Energy Storage System — 250 MW standalone BESS, Medway, Massachusetts — $158M Tax Equity
Advantage Capital closes $158 million tax equity investment in the Medway Grid Energy Storage System, a 250 MW standalone battery storage project in Medway, Massachusetts developed by VC Renewables (Vitol). The project participates in ISO-NE capacity markets. Advantage Capital has deployed $2.5B+ in energy transition investments. VC Renewables is the battery storage development platform of Vitol, the global energy trader.
$158M
Deal Value
250MW
Capacity
BESS
Technology
MA
Location
Deal Details
- Deal Type
- ITC Transfer
- Seller / Sponsor
- VC Renewables (Vitol)
- Buyer / Financier
- Advantage Capital
- Deal Value
- $158,000,000
- Stage
- Construction
- ISO/RTO
- ISO-NE
Finance Counterparties
Lenders & Capital Providers
- taxEquityInvestor
- Advantage Capital
Related Deals
112 MWdc portfolio of 28 community solar projects across NJ, IL, DE, VA, ME, PA
Dimension Energy → First Citizens Bank, ING, MUFG, National Bank of Canada, Siemens, Cadence, Comerica, Advantage Capital
$360M
Section 45X Advanced Manufacturing Production Tax Credits — $700M from 2023 US solar module production (6.3 GW Ohio factories)
First Solar → Fiserv
$700M (at $0.96 per $1.00)
ITC transfer from solar and battery storage projects (operational starting 2024)
ENGIE North America → Schneider Electric
Section 45X Advanced Manufacturing Production Tax Credits from US-manufactured solar PV modules
Silfab Solar → Schneider Electric
North Fork Solar Project — $103M PTC transfer from solar project with 15-year OMPA offtake
Recurrent Energy (Canadian Solar) → Bank of America
$103M
ITC from 1.2 MW behind-the-meter solar project near Gainesville, Florida
WeWould Solar (Stadlen Family Holdings) → Creditable Capital
$600K
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.