Eagle Point Provides $137.5 Million Equipment Financing to Energy Vault for 275 MW of AI Data Center Power Capacity

Eagle Point Credit Management LLC, a private credit investment manager based in Greenwich, Connecticut, has provided a $137.5 million senior secured credit facility to a subsidiary of Energy Vault Holdings, Inc., a global energy infrastructure company focused on grid reliability and next-generation AI and high-performance computing infrastructure. The bespoke financing was directly originated and structured by Eagle Point and will fund Energy Vault's procurement of 275 MW of reciprocating engine generation capacity using Rolls-Royce MTU technology, with equipment deliveries expected to begin in the second half of 2027 and continue through the first half of 2028.

The transaction underscores the growing intersection of private credit and AI-driven power demand, as hyperscale data center developers race to secure generation capacity amid lengthy equipment lead times. Access to power has become a cornerstone of digital infrastructure development, and when underwriting data center opportunities, Eagle Point evaluates power availability, delivery timelines, demand sustainability and operational resiliency. The deal builds on Eagle Point's existing relationship with Energy Vault and was executed through collaboration across the firm's Infrastructure Credit and equipment finance capabilities.

"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."

Energy Vault, which trades on the New York Stock Exchange under the ticker NRGV, operates an integrated power infrastructure platform that builds, owns and operates flexible energy systems designed to accelerate time-to-power for utilities, independent power producers, industrial customers and the AI and data center market. Its technology-agnostic, software-enabled architecture combines energy storage, generation and advanced energy management to deliver scalable infrastructure tailored to customer needs.

"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."

The financing highlights how private credit managers are stepping into a niche created by the capital-intensive, long-lead-time nature of AI power infrastructure, structuring equipment-backed facilities that bridge procurement and deployment timelines. A&O Shearman served as legal counsel to Eagle Point in connection with the transaction. Eagle Point, founded by Thomas Majewski in partnership with Stone Point Capital in 2012, manages $14 billion on behalf of institutional and retail investors.