Contracted revenue key to California BESS financing as merchant market weakens, esVolta CEO explains. September 17, 2026 Energy-Storage.news Premium speaks with Randolph Mann, CEO at developer esVolta at the 2026 US Battery Asset Management Summit in Garden Grove, California. Standalone battery energy storage system (BESS) developers in California are increasingly relying on tolling-type contracts to achieve bankable revenue streams as merchant revenues decline, according to esVolta CEO Randolph Mann. Mann explains that tolling contracts - where utilities pay a fixed price over the contract duration - have become essential for securing project financing in the California Independent System Operator (CAISO) market. "When we're trying to put a project together, it's trying to make sure that we've got predictable enough stream of revenue that we can support that required financing and return," he says. "In California, that increasingly looks like tolling-type contracts where the utility is paying you a fixed price over the duration of the contract." Try premium for just $1. * Full premium access for the first month at only $1 * Converts to an annual rate after 30 days unless cancelled * Cancel anytime during the trial period Premium benefits. * Expert industry analysis and interviews * Digital access to PV Tech Power journal * Exclusive event discounts Or get the full Premium subscription right away. Sed eum reiciendis aspernatur ab cupiditate. Ut atque dolores rerum veritatis voluptatem quidem ex voluptatum. Perspiciatis tempore quia quia animi vel distinctio. Id officia odit iusto facilis aliquid sequi eaque. Magnam eaque laudantium et et exercitationem. Et sed amet ipsa. Qui et corrupti eaque et at dicta nesciunt vero. Est quasi eius possimus repellat ea ut. Inventore vel et possimus officiis quo consectetur similique. Culpa ut voluptatem non pariatur illum autem sapiente. Et et quidem est dolorum ab. Amet id ipsam deleniti minima aut laboriosam. Odio ut reiciendis delectus repudiandae dolorem quaerat. Alias asperiores eum molestiae libero assumenda non voluptatibus quo. Et esse laboriosam ab velit et. Eligendi sint assumenda et. Voluptatem quo est eius occaecati voluptatem tempore. Iste voluptas animi a voluptatem. Debitis est dolore aut fuga sunt voluptatem itaque assumenda. Id magnam officiis sint recusandae dolorum. Architecto numquam dignissimos quam corporis hic. Sit rerum amet provident. Sint natus tenetur qui earum recusandae id optio. Dolore voluptates et accusamus et tempora sint. Dolores reiciendis iusto et quos aut. Sequi et officiis ipsum distinctio. Expedita voluptatibus corporis odio blanditiis iusto. Aut et ipsum beatae tenetur sit. Necessitatibus harum ea et. Natus aut quas sit dolores odio ut. Ipsum sit corporis maxime voluptatum et. Et labore id rerum nobis quia voluptatibus veniam dolores. Sed aut repudiandae alias. Sunt est ab dignissimos quasi recusandae labore. Amet vitae illo debitis beatae nesciunt dolor dignissimos. Voluptatum consequuntur error at omnis. Tenetur quaerat facere placeat enim doloribus. Laborum occaecati sapiente nesciunt voluptatem. Voluptatibus asperiores optio ut. Pariatur perspiciatis voluptatem beatae commodi libero modi. Amet id ipsam deleniti minima aut laboriosam. Odio ut reiciendis delectus repudiandae dolorem quaerat. Alias asperiores eum molestiae libero assumenda non voluptatibus quo. Et esse laboriosam ab velit et. Eligendi sint assumenda et. Et sed amet ipsa. Qui et corrupti eaque et at dicta nesciunt vero. Est quasi eius possimus repellat ea ut. Inventore vel et possimus officiis quo consectetur similique. Culpa ut voluptatem non pariatur illum autem sapiente. Et et quidem est dolorum ab. Laborum occaecati sapiente nesciunt voluptatem. Voluptatibus asperiores optio ut. Pariatur perspiciatis voluptatem beatae commodi libero modi. Voluptatem quo est eius occaecati voluptatem tempore. Iste voluptas animi a voluptatem. Debitis est dolore aut fuga sunt voluptatem itaque assumenda. Id magnam officiis sint recusandae dolorum. Architecto numquam dignissimos quam corporis hic. Sit rerum amet provident. Soluta error neque dolor perspiciatis mollitia. Voluptatem corporis doloribus fugiat et. Unde et rerum magni. Dolores nisi laudantium laboriosam voluptatem. Et sed amet ipsa. Qui et corrupti eaque et at dicta nesciunt vero. Est quasi eius possimus repellat ea ut. Inventore vel et possimus officiis quo consectetur similique. Culpa ut voluptatem non pariatur illum autem sapiente. Et et quidem est dolorum ab. Sed aut repudiandae alias. Sunt est ab dignissimos quasi recusandae labore. Amet vitae illo debitis beatae nesciunt dolor dignissimos. Voluptatum consequuntur error at omnis. Tenetur quaerat facere placeat enim doloribus. 6 October 2026 Warsaw, Poland The Energy Storage Summit Central Eastern Europe is set to return in September 2025 for its third edition, focusing on regional markets and the unique opportunities they present. This event will bring together key stakeholders from across the region to explore the latest trends in energy storage, with a focus on the increasing integration of energy storage into regional grids, evolving government policies, and the growing need for energy security. 13 October 2026 London, UK Now in its second edition, the Summit provides a dedicated platform for UK & Ireland's BESS community to share practical insights on performance, degradation, safety, market design and optimisation strategies. As storage deployment accelerates towards 2030 targets, attendees gain the tools needed to enhance returns and operate resilient, efficient assets. 3 November 2026 Málaga, Spain Understanding technology and supplier selection for Europe's utility-scale PV market in 2027. PV ModuleTech Europe 2026 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of PV module, inverter and battery supplier selection; product availability, technology offerings, supply chain traceability, quality assurance, factory auditing, system reliability, and supplier bankability.

esVolta closes US$450 million expanded credit facility to expand US BESS portfolio. June 8, 2026 California-headquartered developer esVolta has closed an expanded corporate credit facility providing up to US$450 million of capital to expand new utility-scale energy storage projects in the US. Led by global investment bank Nomura Securities International, the transaction extends and upsizes esVolta's existing US$200 million facility originally closed in March 2024 by Nomura, to a size of up to $450 million. Additional lenders participating in the expanded credit facility include Copenhagen Infrastructure Partners through its Green Credit Fund I & Fund II acting as the largest lender, Allianz Global Investors, Celtic Bank, HSBC Asset Management, Fiera Infrastructure Private Debt, and Truist Bank. According to esVolta, it will apply this new capital primarily to support project development, long-lead equipment procurement, and pre-construction costs of its battery energy storage system (BESS) portfolio. EsVolta highlights its activity across the California Independent System Operator (CAISO), Electric Reliability Council of Texas (ERCOT) and Western Electricity Coordinating Council (WECC) markets. The company also notes that the credit facility will enable its continued expansion into the Southwest Power Pool (SPP) and Midcontinent Independent System Operator (MISO) markets. In total, esVolta claims its portfolio contains approximately 30 energy storage projects totaling 25GWh, including 2GWh in operations or construction. In March, esVolta closed a US$139.6 million project financing package with MUFG Bank for its 300MWh Boxcar energy storage project located in Wylie, Texas, northeast of Dallas. The project will deliver 150MW of power output, alongside its 300MWh of BESS, to ERCOT when it becomes operational in 2027. In December 2025, the Board of Supervisors (BoS) for Arizona's Pinal County gave esVolta the go-ahead to construct its 3.2GWh BESS. Utility Salt River Project (SRP) and public utility Electric District No. 3 (ED3) were in talks to procure some of the capacity. 15 September 2026 San Diego, USA You can expect to meet and network with all the key industry players again in 2025 from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more. 6 October 2026 Warsaw, Poland The Energy Storage Summit Central Eastern Europe is set to return in September 2025 for its third edition, focusing on regional markets and the unique opportunities they present. This event will bring together key stakeholders from across the region to explore the latest trends in energy storage, with a focus on the increasing integration of energy storage into regional grids, evolving government policies, and the growing need for energy security.