Advantage Capital closes $158M tax equity investment in Medway Grid Energy Battery Storage project

Advantage Capital completed a $158 million tax equity investment in the 250MW Medway Grid Energy Battery Storage project located in Massachusetts, US. The battery energy storage system (BESS) project was developed by Vitol’s VC Renewables team, which will also oversee its ongoing management. This transaction utilized federal Investment Tax Credits (ITC) to provide critical financial support for the deployment of new energy infrastructure. The Medway project allows for electricity to be stored during periods of low demand and supplied when demand peaks, supporting grid reliability and flexibility in Massachusetts. This investment is part of Advantage Capital's broader Energy Finance Platform, which focuses on large-scale investments across clean energy sectors.

Counterparts (2)

Investor

Advantage Capital

company

Advantage Capital is a private equity and venture capital firm that invests in underserved areas and industries to create jobs and promote economic growth. They focus on providing capital to established and emerging companies.

Developer

Vitol

company

Vitol is a global energy and commodities company with a growing focus on energy transition and infrastructure investments. They are actively involved in trading, logistics, and investments across the energy spectrum, including renewables and traditional energy sources.