Investment firm Generate Capital of San Francisco has acquired large-scale battery storage developer esVolta LP in Aliso Viejo to accelerate the availability of energy storage projects. Financial details were not released.
The acquisition enables Generate to expand into the front-of-the-meter battery storage market by adding a fast-growing and experienced team with a pipeline of attractive projects, the companies said in a statement.
“Our team at esVolta is excited to be joining forces with Generate to expand the battery storage market amid increasing demand from off-takers and utilities throughout the United States,” said Randolph Mann, president of esVolta. “Generate is the ideal choice to support our long-term growth – sharing our vision of a modernized and decarbonized grid and the comprehensive approach to building it out.”
