Spearmint Energy has closed an equity investment with Kyuden International Corporation for two battery energy storage system (BESS) projects in Texas. The investment covers the Tierra Seca and Seven Flags projects, each with a capacity of 100 MW/200 MWh, located in Del Rio and Laredo, respectively. Together, the two projects add 400 MWh of battery storage capacity to ERCOT.
The equity investment builds on financing of approximately $250 million secured by Spearmint Energy in the second quarter of 2025 from Manulife, East West Bank, Investec, and Sugar Creek Capital. This financing was arranged to support the construction of both the BESS projects. Both the projects commenced operations in December 2025.
Construction is being led by M.A. Mortenson Company. Additionally, the projects use the PowerTitan 2.0 energy storage platform supplied by Sungrow Power Supply Co., Ltd. Furthermore, Paul Hastings LLP served as the legal counsel for Spearmint Energy and K&L Gates LLP served as the legal counsel for Kyuden International Corporation for the transaction.