Eagle Point Credit Management provides $28.5M loan to Heritage Energy Storage for Texas battery storage and solar projects

Eagle Point Credit Management has committed a $28.5 million loan to Heritage Energy Storage, funding new hybrid battery storage and solar projects across Texas. This debt facility provides crucial development capital for Heritage Energy Storage's pipeline of large-scale, long-duration battery energy storage systems in the United States. The financing enables the Indianapolis-based joint venture, formed in 2023 by Heritage Environmental Services and RePurpose Energy, to advance its Texas-based grid infrastructure initiatives. For Heritage Energy Storage, securing $28.5 million in development funding allows them to accelerate project deployment without immediate equity dilution. This loan directly supports critical grid infrastructure expansion within Texas, a state experiencing significant energy demand growth. The announced financing on March 13, 2026, positions Heritage Energy Storage to move its Texas projects through development and into construction. Eagle Point Credit Management, a Greenwich-based investment adviser with approximately $7.2 billion in assets as of March 2024, typically focuses on CLO equity and junior debt tranches. This $28.5 million loan to Heritage Energy Storage represents a direct investment into physical hybrid infrastructure development, potentially broadening the firm's structured credit-centric portfolio. Heritage Energy Storage, an Indianapolis-based joint venture formed in 2023 by Heritage Environmental Services and RePurpose Energy, specializes in large-scale, long-duration battery energy storage systems. This financing enables Heritage Energy Storage to accelerate its project pipeline in Texas, a key market for grid modernization. The transaction provides Heritage Energy Storage with capital to execute its initial development strategy, establishing its presence in the competitive Texas energy storage landscape.