Swift Current Energy Achieves Major Milestone with Sale of Prospect Power Project

Swift Current Energy's Landmark Sale of Prospect Power

In a significant move towards advancing its growth strategy, Swift Current Energy announced the sale of Prospect Power, which is notable for being the largest battery storage project in Virginia as well as across the PJM power grid. The sale to Elevate Renewables, a company with a firm commitment to energy innovation, is poised to enhance the grid resilience essential for the increasing power demands in the Mid-Atlantic region.

This deal, finalized on January 15, 2026, involves a 150 MW/600 MWh battery storage project located in Rockingham County, Virginia, which is expected to commence commercial operations in 2026. Eric Lammers, the CEO and Co-Founder of Swift Current Energy, expressed excitement about the sale, emphasizing that Prospect Power is emblematic of the high-value energy facilities that the company specializes in developing. He highlighted that Swift Current is simultaneously working on a portfolio of several competitive energy projects, which are anticipated to come online within the next five years. This initiative is crucial for meeting the growing need for affordable and reliable energy across the United States.

The construction of Prospect Power has been managed by Swift Current Energy, which recently secured an impressive $242 million in project financing from notable financial institutions, including Truist Securities, Canadian Imperial Bank of Commerce (CIBC), KeyBank, and Natixis. This financing, alongside additional tax equity funding, has ensured that all the capital needed for the construction is firmly in place.

In speaking about the sale, Marwan Alaydi, Senior Vice President of Technology and Commercial Strategy at Swift Current, pointed out that the successful transition of Prospect Power into the construction phase and the achievement of a long-term capacity contract were central in enabling this sale. He reinforced that this milestone aligns perfectly with the company's growth objectives and embodies their dedication to advancing energy projects that contribute immediate benefits to local communities and the broader energy grid.

From Elevate Renewables' perspective, Joshua Rogol, the Chief Executive Officer, articulated that acquiring Prospect Power illustrates their commitment to developing robust battery storage infrastructures essential for sustaining power supply, particularly for data centers. This project's strategic location within PJM and its considerable scale highlight essential investments aimed at bolstering grid reliability and addressing the surging demand for electricity.

Future Prospects for Swift Current Energy

Founded in 2016, Swift Current Energy is at the forefront of clean energy solutions, focusing on developing, commercializing, and operating utility-scale solar, wind, and energy storage projects throughout North America. The sale of Prospect Power not only underscores the company's effective operational strategies but also sets the stage for future growth as it continues to pursue innovative energy projects to meet the evolving demands of the energy market.

With energy concerns at the forefront of public discourse, projects like Prospect Power are stepping stones towards a sustainable and reliable energy future. As Swift Current Energy and Elevate Renewables move forward, there is much anticipation regarding the impact these types of projects will have on energy accessibility and environmental sustainability in the coming years.