VoltaGrid LLC announced the completion of a $5.0bn financing package to support its strategy for deploying on-site power capacity, primarily serving the digital and industrial sectors. The deal comprises $2.0bn in senior secured second lien notes maturing in 2030 and a $3.0bn asset-based revolving credit facility.
The company plans to use the funds to refinance existing debt, support organic growth, and reinforce investments in decentralised power infrastructure. This initiative supports its goal of commissioning more than 4.3 gigawatts (GW) of fully contracted capacity by 2028.
Accelerated rollout of energy infrastructure
Founded in Houston, VoltaGrid provides modular, behind-the-meter power generation solutions located directly at consumption sites, primarily for hyperscale data centres. The company is rapidly scaling its asset base to meet growing energy demands from the digital sector.
“This financing closure marks a major milestone in our development. It allows us to execute our current projects and respond to a strong growth in demand,” said Micah Foster, Chief Financial Officer of the company.
Financial structure involving major international banks
The bond issuance was led by Goldman Sachs & Co. LLC as lead joint bookrunner, with participation from thirteen other international banks including JPMorgan Securities LLC, BMO Capital Markets, TD Securities and MUFG. These institutions structured and distributed the second lien debt securities.
Meanwhile, the $3.0bn credit facility was arranged by JPMorgan Chase Bank, acting as administrative agent. The asset-based credit line brings together a syndicate of major North American banks, including Goldman Sachs Bank USA, Barclays Bank PLC and Citi.
Balance sheet reinforcement and growth readiness
This large-scale financing allows VoltaGrid to secure its current projects while maintaining sufficient liquidity to expand its operational scope. The company is targeting sustained growth in localised power infrastructure, addressing both the increasing energy reliability needs of data centres and the supply constraints of the main electricity grid.
VoltaGrid’s business model is built on multi-year contracts with energy-intensive industrial and technology clients, ensuring predictable future cash flows. This positioning is expected to allow the company to capture a growing share of the decentralised power market in the coming years.
