Swift Current Energy has secured USD 242 million in project financing for the Prospect Power Storage facility, a 150 MW/600 MWh battery energy storage project currently under construction in Rockingham County, Virginia. Commercial operations are scheduled to begin in 2026. The financing was arranged by Truist Securities, Canadian Imperial Bank of Commerce (CIBC), KeyBank, and Natixis, who served as Joint Coordinating Lead Arrangers.

Strengthening Virginia’s Grid

The Prospect Power facility is backed by a 15-year power purchase agreement (PPA) with Dominion Energy Virginia, ensuring long-term stability and grid reliability. The project comes at a crucial time as Dominion brings a record number of new power projects online to meet rising electricity demand. Once operational, Prospect Power will be the largest battery energy storage system facility in Virginia and the PJM service area, playing a crucial role in supporting regional reliability and advancing the integration of clean energy.

Economic & Community Impact

Beyond grid support, the project represents a significant private investment in Rockingham County. Over its lifetime, it is expected to generate millions in additional tax revenue for the county. Swift Current Energy also maintains deep ties with the community, including multi-year support for the Rockingham County Fair, the largest county fair in Virginia.

Leadership Insights

Eric Lammers, CEO and Co-Founder of Swift Current Energy, stated, “We set ambitious goals at Swift Current Energy, and today we are proud to recognize the achievement of project financing for our 600 MWh Prospect Power facility. Through our contract with Dominion Energy, Prospect Power will strengthen the local electric grid. We thank our financing partners, Dominion Energy, and the Rockingham community for trusting us to bring this project to completion.”

Marwan Alaydi, Senior Vice President of Engineering & Technology at Swift Current Energy, added, “Prospect Power is emblematic of our commitment to building energy storage where and when it is needed most. Situated in one of the fastest-growing markets for electricity, this project will support both local and regional reliability.”

About the Project

Swift Current Energy is a prominent clean energy company led by veteran industry experts with deep experience in investing, developing, building, owning, and operating renewable energy projects across North America. The Prospect Power Storage project represents a cutting-edge, containerized battery storage system designed to work seamlessly alongside solar panels and wind turbines, visualized in a modern 3D rendering set in a natural environment.

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