Eagle Point is providing $137.5 million in equipment financing to Energy Vault for power infrastructure serving AI data centers.
Eagle Point Credit Management LLC, a private credit investment manager, has provided a $137.5 million senior secured credit facility to a subsidiary of Energy Vault Holdings Inc. (NYSE: NRGV) to finance power generation equipment for artificial intelligence and hyperscale data center infrastructure.
The financing will support Energy Vault's procurement of 275 megawatts (MW) of reciprocating engine generation capacity using Rolls-Royce MTU technology. The equipment is intended for deployment across Energy Vault's behind-the-meter power infrastructure projects serving AI and high-performance computing customers. Equipment deliveries are scheduled to begin in the second half of 2027 and continue through the first half of 2028.
Eagle Point directly originated and structured the financing through its Infrastructure Credit and equipment finance capabilities, building on an existing relationship with Energy Vault. The transaction addresses growing demand for dedicated power infrastructure as hyperscale data center operators seek reliable electricity supplies and faster deployment schedules.
"We are excited to continue our support of Energy Vault as it expands its power infrastructure platform for hyperscale AI customers," said Jennifer Powers, principal and head of Infrastructure Credit at Eagle Point.
"The rapid growth of AI infrastructure is creating significant demand for power capacity and the capital required to deploy that infrastructure at scale. Equipment lead times are often a key constraint to getting power online, creating opportunities for investors that can provide tailored financing."
Behind-the-meter generation allows large electricity consumers, including data centers and industrial facilities, to deploy dedicated power systems at their sites, potentially reducing dependence on conventional grid connections and associated infrastructure timelines. For Energy Vault, securing generation equipment and financing in advance is intended to reduce procurement uncertainty and support the development of power infrastructure for hyperscale customers.
The 275 MW equipment commitment represents a significant addition to the company's planned generation capacity, although Energy Vault did not disclose the specific project locations or customers associated with the procurement.
"For hyperscalers, access to power and speed-to-power are increasingly determining where and how quickly AI infrastructure can be deployed," said Cory Magnuson, president of Asset Vault at Energy Vault.
"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."
Energy Vault develops, owns and operates energy infrastructure serving utilities, independent power producers, industrial customers and data center operators. Its technology portfolio includes electricity generation, short- and long-duration energy storage, and advanced energy management systems. The company operates through a Build, Own & Operate model designed to generate recurring revenue from infrastructure assets.
Eagle Point, founded in 2012 by Thomas Majewski in partnership with Stone Point Capital, manages approximately $14 billion across private credit and structured investment strategies. The firm employs more than 120 professionals and invests across infrastructure credit, specialty finance, strategic credit and collateralized loan obligations.
A&O Shearman served as legal counsel to Eagle Point on the transaction.
The companies did not disclose the facility's interest rate, maturity, repayment structure or collateral terms beyond its senior secured status.
The financing provides Energy Vault with dedicated capital to procure long-lead-time generation equipment as it advances its power infrastructure strategy for AI and data center customers.