Conduit Power, a developer and operator of distributed power generation assets, closed a $200 million equipment financing facility with Eldridge Capital Management. The facility will support the buildout of Conduit’s recently announced 200MW distributed generation portfolio in ERCOT.
The facility provides financing for generation equipment and is designed to align with Conduit’s modular deployment model, funding multiple projects as sites are commissioned.
“This facility provides scalable capital aligned with our deployment model and validates the strength of our distributed generation strategy,” Matt Herpich, CEO of Conduit Power, said. “Eldridge’s partnership enables us to accelerate deployment of 200MW of near-term capacity in ERCOT and to execute on our strategy of delivering reliable, cost-competitive power into structurally undersupplied markets.”
Kyle Parks, managing director and co-head of asset-based credit at Eldridge Capital Management, said, “Energy, industrial, data center and residential load growth in West Texas will challenge grid capacity for years to come, and the interconnection queue is significant and growing. With its deep technical expertise, forward-thinking leadership and strong partnerships, we believe Conduit is well-positioned to become an accretive contributor to rebalancing the region’s power dynamics. We are proud to support the team, their investment thesis, and the physical assets essential to executing Conduit’s vision.”
