esVolta, a company specialising in battery energy storage systems, has completed the transfer of an Investment Tax Credit (ITC) from its Black Walnut project to Computacenter Holdings. This marks the first such transaction for esVolta, which continues to expand its network of financial partners in the California market.
Commissioned in October, the Black Walnut project now supplies 15 MW / 60 MWh of capacity to the grid managed by the California Independent System Operator. The project is designed to strengthen the state’s power system flexibility while incorporating more storage infrastructure.
An expanded financing model
The deal allows Computacenter to benefit from federal tax advantages linked to the development of energy storage infrastructure. According to esVolta, this strategy reflects the evolution of financial mechanisms supporting energy assets that are decoupled from direct generation. Orrick, Herrington & Sutcliffe LLP represented esVolta, while Computacenter was advised by Buchanan Ingersoll & Rooney PC.
esVolta Chief Executive Officer Randolph Mann stated that the transaction is part of an effort to “access a diverse range of financing solutions to support the battery storage sector in key markets.” Computacenter welcomed the collaboration, which it said helps strengthen the foundations of large-scale energy adoption.
Growing storage deployment across the country
The Black Walnut project joins esVolta’s expanding portfolio of storage systems in California. These facilities respond to growing demand for grid stability in the face of intermittent generation, especially during peak consumption periods.
As battery storage becomes more widespread across the United States, financial and industrial players are multiplying partnerships to support this shift. Transferable tax credits are emerging as a central tool in structuring these new business models.
