Key Takeaways
- • Eagle Point Credit Management provided a USD137.5 million senior secured credit facility to a subsidiary of Energy Vault Holdings (NYSE: NRGV) to finance 275 MW of Rolls-Royce MTU reciprocating engine generation capacity for hyperscale AI infrastructure.
- • The financing is structured as asset-backed equipment financing supporting Energy Vault's behind-the-meter power infrastructure, according to the publisher's announcements.
- • A&O Shearman advised Eagle Point Credit on the transaction, with a team led by Todd Koretzky (Debt Finance) and Andrew Lanius (Energy, Natural Resources and Infrastructure).
- • The deal reflects growing demand for onsite generation as speed-to-power becomes a binding constraint on where and how quickly AI data center capacity is built.
Summary
Eagle Point Credit Management, the private credit investment manager, has provided a USD137.5 million senior secured credit facility to a subsidiary of Energy Vault Holdings, Inc. (NYSE: NRGV), according to the publisher's announcements. The facility funds 275 MW of engine generation capacity built on Rolls-Royce MTU reciprocating engines, intended to serve hyperscale AI infrastructure. Energy Vault describes its Powered Land platform as combining onsite generation, battery energy storage, grid access and intelligent controls to accelerate speed-to-power for AI and high-performance computing campuses.
A&O Shearman advised Eagle Point Credit on the transaction. Todd Koretzky, the firm's finance partner, said the parties worked together "to facilitate both access and speed to power at a moment when these factors are determining where and how quickly the next generation of AI infrastructure is built." The A&O Shearman team was led by Koretzky and Houston-based Energy, Natural Resources and Infrastructure partner Andrew Lanius.
The transaction follows other Eagle Point financings with Energy Vault and energy counterparties. Eagle Point previously announced a $18 million project financing to Energy Vault, and a $28.5 million loan to Heritage Energy. Eagle Point, founded by Thomas Majewski with Stone Point Capital in 2012, manages approximately USD14 billion for institutional and retail investors. Energy Vault has also announced a strategic agreement to deploy 1.25 GW of integrated power infrastructure for a hyperscaler AI data center in Texas, though details of that agreement were not available in the source material.
A&O Shearman advised Eagle Point Credit on the transaction. Todd Koretzky, the firm's finance partner, said the parties worked together "to facilitate both access and speed to power at a moment when these factors are determining where and how quickly the next generation of AI infrastructure is built." The A&O Shearman team was led by Koretzky and Houston-based Energy, Natural Resources and Infrastructure partner Andrew Lanius.
The transaction follows other Eagle Point financings with Energy Vault and energy counterparties. Eagle Point previously announced a $18 million project financing to Energy Vault, and a $28.5 million loan to Heritage Energy. Eagle Point, founded by Thomas Majewski with Stone Point Capital in 2012, manages approximately USD14 billion for institutional and retail investors. Energy Vault has also announced a strategic agreement to deploy 1.25 GW of integrated power infrastructure for a hyperscaler AI data center in Texas, though details of that agreement were not available in the source material.
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