Conduit Power, a distributed power generation developer and operator, announced it has secured a $200 million equipment financing facility from Eldridge Capital Management to support the expansion of its 200MW distributed generation portfolio in ERCOT.
The financing is structured as a master equipment lease facility, designed to fund generation equipment as projects are commissioned. The structure aligns with Conduit Power’s modular deployment model, enabling scalable capital deployment as new sites come online.
Conduit’s platform focuses on developing fast-start, dispatchable power assets in grid-constrained regions within ERCOT. By interconnecting at the distribution level and deploying modular facilities, the company aims to deliver reliable capacity without requiring large-scale transmission upgrades.
The company’s distributed generation model is positioned to address rising electricity demand across wholesale markets, industrial applications, and data center customers. Conduit delivers hybrid gas and battery power solutions in 50MW blocks, enabling it to power data center campuses across the U.S. in under 2 years.
Eldridge’s investment highlights continued demand for asset-based financing tied to energy infrastructure and mission-critical equipment. Through its diversified credit platform, Eldridge provides capital backed by income-generating assets across industries, including energy, manufacturing, and transportation.
Conduit Power is backed by Grey Rock Investment Partners, a Dallas-based private equity firm focused on investments across the energy value chain, including natural resources, power optimization, and decarbonization.
KEY QUOTES:
“This facility provides scalable capital aligned with our deployment model and validates the strength of our distributed generation strategy. Eldridge’s partnership enables us to accelerate deployment of 200MW of near-term capacity in ERCOT and to execute on our strategy of delivering reliable, cost-competitive power into structurally undersupplied markets.”
Matt Herpich, Chief Executive Officer, Conduit Power
“Energy, industrial, data center, and residential load growth in West Texas will challenge grid capacity for years to come, and the interconnection queue is significant and growing. With its deep technical expertise, forward-thinking leadership, and strong partnerships, we believe Conduit is well-positioned to become an accretive contributor to rebalancing the region’s power dynamics. We are proud to support the team, their investment thesis, and the physical assets essential to executing Conduit’s vision.”
Kyle Parks, Managing Director And Co-Head Of Asset Based Credit, Eldridge Capital Management
