Eagle Point Credit Management, a private credit investment manager, provided a $137.5 million senior secured credit facility to a subsidiary of Energy Vault Holdings, a global energy infrastructure company supporting grid reliability and next-generation AI and high-performance computing infrastructure.
Eagle Point directly originated and structured the financing, which will support Energy Vault’s procurement of 275 MW of reciprocating engine generation capacity using Rolls-Royce MTU technology for deployment across its hyperscale AI and data center infrastructure projects. Equipment deliveries are expected to begin in the second half of 2027 and continue through the first half of 2028. The transaction builds on Eagle Point’s relationship with Energy Vault and was executed through collaboration across Eagle Point’s Infrastructure Credit and equipment finance capabilities.
“We are excited to continue our support of Energy Vault as it expands its power infrastructure platform for hyperscale AI customers,” Jennifer Powers, principal and head of Infrastructure Credit at Eagle Point, said. “The rapid growth of AI infrastructure is creating significant demand for power capacity and the capital required to deploy that infrastructure at scale. Equipment lead times are often a key constraint to getting power online, creating opportunities for investors that can provide tailored financing. Eagle Point’s experience across power and infrastructure positions us well to provide capital and structure solutions around these constraints.”
Eagle Point views access to power as a cornerstone of digital infrastructure and data center development. When underwriting data center opportunities, the firm evaluates power availability, delivery timelines, demand sustainability and operational resiliency.
“For hyperscalers, access to power and speed-to-power are increasingly determining where and how quickly AI infrastructure can be deployed,” Cory Magnuson, president of Asset Vault at Energy Vault, said. “By securing 275 MW of reciprocating engine generation capacity for delivery beginning in 2027, together with dedicated financing supporting the procurement, we are taking greater control over two critical elements of execution: equipment availability and capital.”
A&O Shearman served as legal counsel to Eagle Point in connection with the transaction.
