Calibrant Energy, an on-site energy solutions provider that develops and finances distributed energy projects for large commercial and industrial power consumers, has closed a $145 million debt facility.

Investec led the financing, with Citi, Liberty Bank, and Siemens Financial Services also participating to fund solar and battery storage projects across multiple U.S. power markets, including a 120 MWh battery energy storage system serving a hyperscale data center customer in the PJM market.

The company did not disclose the project’s location, power capacity in MW, or how it allocates financing across the projects it covers.

“Data center operators are choosing on-site energy storage because it is a fast, reliable, and effective way to get online and operate as responsible grid citizens,” said Phil Martin, CEO of Calibrant Energy. “With this financial close and site mobilization for a hyperscale data center, Calibrant continues to demonstrate that large-load flexibility is not just possible but a commercial reality today.”

The financing comes as data center operators seek additional options for securing power while PJM and federal regulators work to streamline connections for large power users.

According to the release, the company has more than 5.9 GWh of battery storage capacity in operation, under construction, or covered by exclusive development agreements. Its portfolio includes additional sites associated with the same hyperscale customer. Calibrant is backed by Macquarie Asset Management.

In the first nine months of 2026, publicly announced energy storage project funding increased by 197% year over year, compared to 9M 2025, according to Mercom’s recently released 9M 2026 Funding and M&A for Energy Storage report.

In October, Australian battery energy storage developer Akaysha Energy refinanced its existing project-level debt through a A$1.75 billion (~$1.2 billion) portfolio-level financing facility to support its battery storage development pipeline in Australia. The facility refinances existing debt across four battery energy storage projects, Brendale, Orana, Ulinda Park, and Elaine, into a single portfolio financing structure.