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- Powin Secures $200M Credit Facility Backed by KKR to Accelerate Expansion
Powin Secures $200M Credit Facility Backed by KKR to Accelerate Expansion
Slice of Energy Team
October 09, 2024
Key Highlights:
Powin secures a $200M credit facility from insurance accounts managed by KKR
Capital to drive expansion, innovation, and financial flexibility
Bloomberg forecasts energy storage market to exceed 100 GWh by 2024
Guggenheim Securities facilitated the successful completion of the capital raise
Source: Business Wire
Notable Quotes:
“This facility enables us to accelerate our expansion, drive innovation, and maximize value for our customers, reinforcing our commitment to advancing a sustainable energy future.”
“Powin stands out as a leader and innovator in the clean energy space. We are proud to support them and their efforts to expand the use of battery energy storage systems through our deep experience in Asset-Based Finance.”
Our Take:
Powin's ability to secure a substantial $200 million revolving credit facility is a major strategic milestone, reflecting the immense investor confidence in its leadership within the fast-growing energy storage sector. As global demand for energy storage solutions soars, particularly with the shift toward renewable energy and grid resiliency, this capital infusion will bolster Powin's ability to scale operations and innovate. The partnership with KKR, alongside other prominent equity investors, strengthens Powin’s capacity to seize the surging market opportunity, setting the stage for continued leadership and innovation in clean energy solutions.