GOODPEAK BEGINS CONSTRUCTION ON ERCOT BATTERY STORAGE PROJECTS AFTER SECURING CONSTRUCTION DEBT FINANCING
- $22M in Construction Debt Financing Closed with Pathward, N.A. and BridgePeak
- Growth Equity Investment Secured from Strategic Investor Current Equity Partners
HOUSTON, April 3, 2025 /PRNewswire/ -- GoodPeak, a rapidly growing utility-scale battery energy storage and solar platform, announced today the closing of construction credit facilities with Pathward®, N.A. and BridgePeak Energy Capital, enabling commencement of construction of its first two 10-MW (2-hour duration) energy storage projects near Houston, Texas. These projects, which will come online at the end of 2025, will provide critical capacity to enhance grid reliability, support renewable energy integration, and strengthen the Texas energy infrastructure.
With the recent backing from Current Equity Partners and other strategic investors, GoodPeak anticipates significant expansion in 2025 and beyond. GoodPeak plans to expand and diversify its development pipeline to include larger projects, integrated power generation and data center development opportunities.
Founded by Trent Kososki (former Stonepeak and ECP executive) and Hayden Stanley (former founder of Trilogy Power), GoodPeak develops, builds, owns, and operates battery storage and generation assets in high-value, constrained locations with advantaged economics. The company is backed by a deep network of industry leaders, including prominent founders, executives, investors, family offices, and advisors in the power and renewables sector.
As part of its continued growth, GoodPeak has appointed PJ Fielding, former Kayne Anderson Portfolio Manager and Current Equity Partners co-founder, and Dana Frix, former Managing Partner at Chadbourne & Parke, to its Board of Directors. Their deep expertise in infrastructure, renewables, private equity, regulatory strategy and development will help guide GoodPeak's expansion efforts.
"Breaking ground on our first energy storage projects marks a major milestone for GoodPeak in helping to solve Texas' grid challenges," said Trent Kososki, Founder and CEO of GoodPeak. "These projects will provide much-needed resilience to the grid, storing excess power during times of low demand and delivering it when it's needed most—helping to stabilize energy prices, support renewable integration, and enhance overall reliability. Securing our construction debt financing was a critical step in our ascent, and we're grateful for world-class partners in Pathward and BridgePeak. The addition of Current Equity as a strategic investor further strengthens our position as we build and expand our platform—with many more mountains to climb!"
Christopher Soupal, Pathward Divisional President and Revenue Lending Officer, said, "Pathward's construction debt financing for GoodPeak's ERCOT projects demonstrates our commitment to supporting innovative energy storage solutions. We're proud to be GoodPeak's lending partner to deliver solutions to Texas and provide grid reliability and resiliency."
"At BridgePeak, we partner with industry-leading developers scaling new heights in energy innovation," said Shawn Andrews, CEO of BridgePeak. "Our collaboration with GoodPeak exemplifies this approach. GoodPeak's strategy of deploying a distributed network of energy storage 'shock absorbers' is precisely the type of forward-thinking solution needed to navigate the challenging terrain of today's evolving grid landscape."
P.J. Fielding, Co-Founder of Current Equity Partners, added, "We're excited to back a leading energy storage platform in GoodPeak. With AI and data centers driving soaring electricity demand, Texas faces major grid challenges. GoodPeak's storage projects are crucial for balancing this growth, and we believe it is well-positioned to provide much-needed solutions to the evolving energy landscape."
About GoodPeak
GoodPeak is a rapidly-growing utility-scale battery storage and solar platform, focused on developing, building, owning, and operating assets in high-value, capacity-constrained locations with advantaged economics. With its initial projects under construction and a robust development pipeline, GoodPeak leverages over 250 years of collective expertise across development, energy private equity, financing, legal, EPC and asset operations. The company is backed by a deep network of industry leaders, including prominent founders, executives, investors, family offices, and advisors in the power and renewables sector. GoodPeak is committed to delivering solutions to enhance grid reliability, support renewable energy integration, strengthen local energy infrastructure and positively impact the communities where we operate. www.goodpeak.com
About Current Equity Partners
Current Equity Partners is a private investment firm founded by J.C. Frey and P.J. Fielding, focused on supporting the infrastructure build-out of the new digital economy. With decades of combined experience in asset management, private equity, and operational leadership, the firm leverages deep industry expertise and a disciplined investment approach to drive long-term value creation. The firm partners with businesses and stakeholders to deliver innovative capital solutions and strategic growth initiatives. https://www.currentequitypartners.com/
About Pathward®
Pathward®, N.A., a national bank, is a subsidiary of Pathward Financial, Inc. (NASDAQ:CASH). Pathward is a U.S.-based financial empowerment company driven by its purpose to power financial inclusion. Pathward strives to increase financial availability, choice and opportunity across our Partner Solutions and Commercial Finance business lines. The strategic business lines provide support to individuals and businesses. Learn more at Pathward.com.
About BridgePeak
BridgePeak Energy Capital is the country's leading renewable energy loan service provider to banks and private credit funds. BridgePeak provides comprehensive loan origination, underwriting, closing, servicing and portfolio management solutions designed to maximize value for all stakeholders. As of December 2024, BridgePeak manages a portfolio of more than $2.3 billion in construction and term loans and $325+ million of development loans for its capital partners. For more information about BridgePeak Energy Capital, visit https://www.BridgePeak.com/.
Contacts
GoodPeak:
[email protected]
Pathward:
Courtney Heidelberg
605.291.7044
[email protected]
BridgePeak:
[email protected]
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SOURCE GoodPeak