Swift Current Energy closes US$242 million financing for Virginia battery storage project
Summary
Swift Current Energy closed US$242 million in project financing for Prospect Power Storage in Virginia. The project will be a 150MW/600MWh battery energy storage system in Rockingham County and is expected to begin commercial operation in 2026. The company says this is its first large-scale battery project and it already has a 15-year power purchase agreement with Dominion Energy Virginia. The piece also places the project in the context of growing PJM load, increasing storage demand, and broader state storage targets in Virginia.
Funding
Amount
$242.0M
Total raised
Date
September 4, 2025
Announcement date
Investors
Truist Securities, Entegra Financial
Lead investors
Company
swiftcurrentenergy.com
Funded company
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