Project delivering 250MW utility-scale battery storage system and is expected to meet state’s Clean Peak Energy standards.
NEW YORK, March 31, 2026 — Advantage Capital, a leading impact investment firm, announced today the closing of a $158 million tax equity investment in the Medway Grid Energy Battery Storage project in Medway, Massachusetts. This 250MW battery energy storage system (BESS) is the largest to date in the state and among the largest in the Independent System Operator of New England region (ISO-NE), which covers all six New England states. The project was backed by Vitol, the world’s leading independent energy trader, and developed by Vitol’s VC Renewables team, which also manages the system.
Advantage Capital’s Energy Finance team leveraged federal Investment Tax Credits (ITC) as part of the deal, a critical financing tool that supports the development of new energy resources and technologies to address the skyrocketing demand for energy around the country.
“Massachusetts has long supported the development of clean energy resources and innovation, and we are proud to parter with VC to make the Medway project our first standalone BESS in ISO-NE,” said Tom Bitting, Managing Director, Advantage Capital. “Citizens and businesses in the region will now benefit from the project’s underlying support for a more resilient power grid and greater price stability. In addition, the project will generate significant local property tax revenue, directly supporting municipal services and contributing meaningful, long-term economic benefits to the Medway community.”
Battery storage technologies enable electricity to be stored when supply exceeds demand and discharged when it is needed most. Utility-scale battery systems help grid operators maintain reliability by shifting energy from lower-demand periods—such as overnight—to times of peak demand, typically in the afternoon and evening. Front-of-the-meter (FTM) systems like those used in Medway deliver power directly to the grid or wholesale market, enhancing grid flexibility and stability while operating with zero on-site emissions. By improving the efficiency and responsiveness of the electric system, these assets play an important role as states work toward long-term climate and reliability goals, including net-zero carbon emissions.
The ISO-NE interconnection queue has seen healthy growth in battery storage over the last few years with 37 projects under development as of February 2026. The Medway project joins the 175MW Cross Town system in Gorham, Maine and the 150MW Cranberry Point project in Carver, Massachusetts, as some of the largest planned.
The Medway Grid Energy Battery Storage project meets Massachusetts Clean Peak Energy standards from the state’s Department of Energy Resources, which are designed to provide incentives to clean energy and storage technologies that supply electricity or reduce demand during seasonal peak demand periods.
The Medway investment is Advantage Capital’s latest investment through its Energy Finance Platform. Energy Finance is one of the firm’s key market areas and the firm actively finances large-scale, cutting-edge projects in clean, resilient, and innovative energy technologies. This includes solar, wind, storage, and emerging solutions that are transforming the energy sector and providing affordable, sustainable options for communities nationwide. To date, the firm has invested in the development of more than 3.3 GWdc of clean energy, which is equivalent to the ability to meet the power needs of more than 582,000 homes.
About Advantage Capital
Advantage Capital is a leading impact investment firm that deploys capital to underserved markets nationwide. Through its Energy Finance platform, the firm provides flexible, scalable financing for large-scale solar, wind, energy storage, and emerging clean energy technologies. By partnering with developers and investors, Advantage Capital accelerates the deployment of resilient energy infrastructure that expands access to affordable, sustainable power while driving long-term economic growth in the communities it serves. Learn more at www.advantagecap.com.
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