Eagle Point Credit Management has provided a $137.5 million senior secured credit facility to an Energy Vault subsidiary to finance power generation equipment for hyperscale AI and data center projects.
Eagle Point directly originated and structured the financing through its Infrastructure Credit and equipment finance capabilities.
The facility will support Energy Vault’s procurement of approximately 275 MW of reciprocating engine generation capacity using Rolls-Royce MTU technology.
The equipment is intended for deployment across Energy Vault’s hyperscale AI and data center infrastructure projects.
Deliveries are expected to begin during the second half of 2027 and continue through the first half of 2028.
Energy Vault said securing both equipment capacity and dedicated financing gives it greater control over two major constraints facing data center developers: availability of generation equipment and access to capital.
The transaction builds on an existing relationship between Eagle Point and Energy Vault.
Eagle Point views access to reliable power and speed-to-power as increasingly important factors in the development of AI computing infrastructure.
The investment manager evaluates power availability, delivery schedules, demand durability, and operational resilience when underwriting data center-related opportunities.
Energy Vault operates an integrated energy infrastructure platform serving utilities, independent power producers, industrial customers, AI companies, and data center developers.
Its portfolio includes energy storage, generation, and energy management technologies, including short-, long-, and multi-day storage systems.
The company uses a Build, Own & Operate model intended to generate recurring revenue from deployed infrastructure.
Eagle Point manages approximately $14 billion and invests across infrastructure credit, specialty finance, strategic credit, and other private credit markets.
A&O Shearman served as Eagle Point’s legal counsel for the transaction.
KEY QUOTES:
“The rapid growth of AI infrastructure is creating significant demand for power capacity and the capital required to deploy that infrastructure at scale.”
Jennifer Powers, Principal And Head Of Infrastructure Credit At Eagle Point
“By securing 275 MW of reciprocating engine generation capacity for delivery beginning in 2027, together with dedicated financing supporting the procurement, we are taking greater control over two critical elements of execution: equipment availability and capital.”
Cory Magnuson, President Of Asset Vault At Energy Vault
