CRC-IB (now CG/ CRC-IB) Advises TransGrid Energy on $515M Tax Capital Financing for 382.4MW / 1,529.6MWh Battery Energy Storage Project
CRC-IB, which now operates as CG/ CRC-IB following its acquisition by Canaccord Genuity, served as financial advisor to TransGrid Energy LLC (“TransGrid” or the “Company”), a leading owner and operator of utility-scale renewable energy projects, in securing $515M of tax capital financing for the Company’s Atlas VIII Project, a 382.4MW / 1,529.6MWh utility-scale battery energy storage project located in Arizona.
The financing package includes a $165M tax equity commitment from a leading U.S. financial institution and the purchase of $350M of investment tax credits. The project is currently under construction and is expected to achieve commercial operations in 2026.
“We’re proud to have supported TransGrid Energy on a transaction that advances grid resilience while demonstrating the depth of capital available for well-structured utility-scale storage projects,” said Michael Yurkerwich, Managing Director at CG/CRC-IB.
For more information on this transaction, please contact Michael Yurkerwich.
About TransGrid Energy
TransGrid Energy LLC, a wholly-owned subsidiary of Hanwha FutureProof, invests in, owns and operates battery storage and solar projects across the United States that will drive the shift to a clean energy future. TransGrid leverages its deep renewable energy expertise, proven project execution capability, and significant capital to usher in the era of clean, reliable energy. Founded in 2023, TransGrid’s growing portfolio of utility-scale storage and solar PV projects consists of 2.6 GW of capacity, of which 729 MW are currently operational. As a member company of Hanwha Group, a global leader in renewable energy solutions, TransGrid is committed to providing sustainable energy solutions.
About CG/ CRC-IB
CG/ CRC-IB is a full-service investment bank providing industry-leading financial services across the energy transition. In January 2026, CRC-IB was acquired by Canaccord Genuity Group to deliver M&A, project finance, capital raising, and strategic advisory services to public and private companies and financial sponsors across the renewable energy, commercial, and industrial sectors, leveraging Canaccord Genuity’s globally integrated M&A advisory and ECM-driven capital markets capabilities. Canaccord Genuity Capital Markets is the global capital markets division of Canaccord Genuity Group Inc. (TSX: CF), offering institutional and corporate clients idea-driven investment banking, mergers and acquisitions (M&A), research, sales and trading services with capabilities in North America, the UK & Europe, Asia, and Australia. We are committed to providing value-driven services to our clients throughout the entire lifecycle of their business and operating with high standards of excellence as an independent investment bank – expansive in resources and reach, but targeted in industry expertise, market focus and individual client attention. We are driven by your success. For more information, visit www.crc-ib.com and connect with us on LinkedIn.
