Scale Microgrids secures US$275 million for 140MW of distributed generation projects across US

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Scale Microgrids has successfully secured US$275 million in funding to support the development of 140MW of distributed generation projects across various states in the US. This financing round was led by KeyBanc Capital Markets, Cadence Bank, and New York Green Bank, with additional support from Investec, Mitsubishi HC Capital America, and Connecticut Green Bank. The projects will encompass battery storage, microgrids, and community-scale solar installations, with many already under construction and expected to be operational by 2025 and 2026.

This latest funding brings Scale Microgrids' total financing to over US$1 billion. The company has previously collaborated with Connecticut Green Bank on a thermal loop project in Bridgeport, which utilizes a combined heat and power fuel cell system. The growing recognition of microgrids for their resilience and integration with renewable energy is evident, particularly in California, where several microgrid projects are underway, including community-driven initiatives supported by Pacific Gas and Electric. Connecticut Green Bank's chief investment officer highlighted the significant impact of Scale Microgrids on distributed resources and battery storage in the region.