Powin
Assembly Line
Powin Secures $200 Million in Debt Capital From KKR to Bolster Growth and Innovation in Energy Storage
Powin, a global leader in battery energy storage solutions, announced that it has successfully secured a revolving credit facility of up to $200 million primarily from insurance accounts managed by KKR, a leading global investment firm. The facility will be instrumental in supporting Powin’s working capital needs, driving continued innovation, and further enhancing the company’s financial flexibility as it expands its leadership position in the storage industry.
This strengthened capital position improves Powin’s ability to seize the immense market opportunity and meet the surging demand in the rapidly expanding global energy storage sector. Bloomberg New Energy Finance forecasts that the energy storage market will exceed 100 gigawatt-hours of capacity in 2024 and is poised to grow at an annual rate of 21%, reaching 442 gigawatt-hours by 2030. The rising global demand for energy storage is fueled by the rapid expansion of renewable energy sources along with the increasing need for grid stability and resiliency.