Advantage Capital, a leading impact investment firm, has announced the closing of a $158 million tax equity investment in the Medway Grid Energy Battery Storage project in Medway, Massachusetts. This 250MW battery energy storage system (BESS) is the largest to date in the state and among the largest in the Independent System Operator of New England region (ISO-NE), which covers all six New England states. The project was backed by Vitol, the world’s leading independent energy trader, and developed by Vitol’s VC Renewables team, which also manages the system.

Advantage Capital’s Energy Finance team leveraged federal Investment Tax Credits (ITC) as part of the deal, a critical financing tool that supports the development of new energy resources and technologies to address the skyrocketing demand for energy around the country.

Read full press release here.