esVolta Secures Tax Equity Investment from U.S. Bank for Energy Storage Project in California
Summary
Our tax equity team is excited to partner with U.S. Bank to finance standalone battery storage systems, support grid resilience and deliver clean energy in California, said Scott Jacobs, CEO and Co-founder of Generate Capital. "We are deeply dedicated to our work in supporting sustainability and green infrastructure, said U.S. Bancorp Impact Finance Director of Renewable Energy Investments Darren Vant Hof. Because we combine purpose and profitability, intentionally considering social and environmental impact, we are glad to be a part of this project.The transaction was facilitated by Orrick Herrington & Sutcliffe LLP as legal adviser for esVolta and Leverage Law Group, LLC as legal adviser for U.S. Bank.Founded in 2017, esVolta, LP is a leading developer, owner, and operator of utility-scale energy storage projects across North America. Generate builds, owns, operates and finances solutions for clean energy, transportation, water, waste, agriculture and smart cities infrastructure. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2023 Worlds Most Ethical Companies and Fortunes most admired superregional bank.
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