Scale Microgrids has announced a $150 million tax equity financing deal with Truist Bank to accelerate the construction of distributed energy assets across the United States. This investment marks Truist’s largest institutional tax equity contribution to date, supporting a range of renewable energy projects, including microgrids, community-scale solar installations, and battery storage systems.
Financing Renewable Energy Expansion
The new tax equity facility will enable Scale to finance projects tailored to commercial and industrial customers across various sectors. Over the next 18 months, these initiatives will be rolled out in states with significant market opportunities, including California, Connecticut, New York, and Pennsylvania.
Julian Torres, Chief Investment Officer at Scale Microgrids, highlighted the importance of this partnership: “This collaboration with Truist will allow us to efficiently finance microgrid and community-scale projects, addressing rising energy demands in an era of grid constraints and load growth.”
Broadening Capital Resources
The partnership with Truist enhances Scale’s financial resources, complementing a $300 million equity investment from Warburg Pincus and a $225 million project finance debt facility from KeyBanc Capital Markets and City National Bank. Additionally, Scale has leveraged the tax credit transfer market through a collaboration with Captona, enabling flexible financing options to optimize capital deployment.
Chris Nygren, Head of Tax Equity at Truist Bank, emphasized the broader impact of the investment: “We are proud to support Scale Microgrids in delivering renewable energy projects to universities, hospitals, businesses, and communities nationwide. This initiative aligns with our mission to inspire and build better lives and communities.”
Driving Energy Innovation
With this funding, Scale Microgrids continues its mission to provide innovative distributed energy solutions, helping customers navigate grid constraints while advancing sustainability goals. This partnership underscores the growing demand for renewable energy and the critical role of flexible financing in scaling clean energy infrastructure.
