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Elevate Renewables has secured a $50 million financing facility from Rabobank to support the development of a solar and battery energy storage project contracted to supply power to a data centre, the company announced.

The financing is structured as an “Energy Transition Supplier Finance Facility,” a model designed to fund equipment procurement and improve working capital across the project’s supply chain. The transaction was arranged solely by Rabobank’s North America unit.

According to the company, the project will provide dispatchable electricity—power that can be delivered on demand—to a data centre, a sector experiencing rapid growth in energy consumption.

Elevate said the financing structure is intended to accelerate project timelines and strengthen supply chain resilience, while also improving cost efficiency in project execution.

The announcement reflects broader trends linking energy infrastructure development with the expansion of digital infrastructure. Data centres, particularly those supporting cloud computing and artificial intelligence workloads, require continuous and reliable power supply, increasing demand for integrated renewable generation and storage systems.

Elevate has been expanding its battery storage portfolio in the United States. Earlier in 2026, the company acquired the 150 MW / 600 MWh Prospect Power Storage project in the PJM Interconnection region, and it is also advancing another 150 MW / 600 MWh storage project in New Jersey.

The company is backed by infrastructure investor ArcLight Capital Partners and focuses on large-scale battery storage projects aimed at supporting grid reliability and integrating renewable energy sources.

Source: pv-magazine-usa.com