Rabobank: Financing the Energy Projects Behind Data Centres

Elevate Renewables (Elevate) is reinforcing the sustainable finance ecosystem powering data centre expansion after securing a US$50m funding facility from Rabobank.

The capital will finance a solar and battery storage initiative aimed at strengthening green energy integration within critical digital infrastructure.

Structured as an Energy Transition Supplier Finance Facility, the funding framework is designed to speed up project execution while bolstering supply chain resilience.

The initiative will deliver dispatchable, on-demand power to a data centre, helping tackle one of the industry’s most pressing challenges as energy consumption accelerates in line with digital growth trends.

With hyperscale and enterprise operators expanding capacity, access to sustainable and finance-backed energy infrastructure is emerging as a key differentiator in how rapidly new data centres move from blueprint to operation.

Josh Rogol, CEO of Elevate, says: “This facility is a strategic enabler for how we build in today's market.

“By optimising our cost of capital and aligning incentives across our supply chain, we can move faster, bid more competitively and deliver critical infrastructure where it's needed most, supporting the next wave of data centre growth in the US.

“Energy infrastructure is now directly tied to economic growth.

“Facilities like this don't just finance projects, they enable speed and competitiveness so we can execute for our customers and investors.”

Linking energy and data centre capacity

The project emphasises a growing shift where energy and digital infrastructure are being developed in tandem.

By combining solar generation with advanced battery energy storage, operators can optimise power management – storing surplus electricity and deploying it during peak demand to stabilise operations.

For data centres, this integration is critical.

Constant, uninterrupted power is essential to sustain workloads like cloud computing, AI inference and high-performance analytics.

Battery storage systems, measured in megawatts (MW) and megawatt hours (MWh), enhance grid stability and protect uptime during supply fluctuations.

Rabobank served as the sole arranger for the transaction, collaborating with Elevate Renewables to develop a financing model that supports near-term deployment while enabling scalable growth.

The structure leans on supplier finance principles to strengthen payment flows across the value chain and improve working capital efficiency.

Wayne Hu, Managing Director at Rabobank North America Energy Transition Coverage, says: “Rabobank is an active lender in the energy transition space and we are committed to supporting our clients across the entire value chain.

“We are thrilled to partner with companies like Elevate and look forward to help accelerate energy transition efforts in the region.”

Wouter Hazenberg, Managing Director and Head of Supplier Finance at Rabobank North America, adds: “Working with Elevate has been a highly collaborative experience.

“From the early stages of the discussion, Elevate demonstrated a thoughtful and forward–looking approach to supply chain management and project execution. 

“We were pleased to work alongside their team and co-develop a bespoke solution that improves Elevate's working capital position by financing payables due to equipment suppliers, as well as payables that are due between different Elevate entities.”

Expanding storage near data centre hubs

Elevate Renewables continues to grow its battery storage portfolio across strategic US data centre regions.

In January, the company acquired the 150MW/600MWh Prospect Power Storage project within the PJM Interconnection, positioned near Northern Virginia’s “Data Center Alley” — one of the globe’s densest data centre corridors.

The site is currently under construction and set to begin operations by mid-2026.

In March, Elevate further announced that its Garden State Reliability Project, also known as Two Rivers Storage, has been chosen for inclusion in New Jersey’s state-led energy storage initiative.

This facility will similarly deliver a 150MW/600MWh capacity, reinforcing regional grid reliability.

Together, these projects illustrate the ongoing convergence of energy and digital infrastructure, as scalable storage and financing models ensure power availability evolves in step with rising compute demand.