Pivot Energy closed a bilateral $500 million corporate credit facility with Nuveen Energy Infrastructure Capital. Nuveen EIC is part of the $2.6 trillion asset management firm wholly owned by TIAA.
The three-year facility supports Pivot, an ECP portfolio company, by financing late-stage project development and equipment procurement. The financing will help Pivot bring more solar and battery storage online.
By the end of 2029, Pivot expects to have more than 1 gigawatt of solar and more than 700 megawatt-hours of energy storage assets in operation.