esVolta has completed its first standalone Investment Tax Credit (ITC) transfer for an operational battery energy storage project, monetising federal tax credits from the 15 MW / 60 MWh Black Walnut BESS in California. The transaction with Computacenter reflects evolving policy support for standalone storage and strengthens financing pathways for utility-scale battery assets in CAISO.
PROJECT SNAPSHOT
| Field | Value |
|---|---|
| Project | Black Walnut BESS |
| Capacity | 15 MW / 60 MWh (4-hour duration) |
| Developer / Operator | esVolta |
| Location | California, USA |
| Commercial Operation | Oct-25 |
California-based utility-scale energy storage developer and operator, esVolta, has completed an Investment Tax Credit (ITC) transfer linked to its Black Walnut battery energy storage project in California. The transaction involved Computacenter Holdings and represented esVolta’s first standalone ITC transfer for an operational battery storage asset.
The Black Walnut project was commissioned in October 2025 and has been delivering 15 MW / 60 MWh of battery storage capacity to the California Independent System Operator (CAISO) grid. The four-hour duration system provides dispatchable capacity during peak demand periods and grid constraint events.
The ITC transfer structure aligns with federal policy changes that allow standalone energy storage projects to qualify for tax credits. The transaction enables tax credit monetization through third-party participation tied to an operating battery storage asset.
Orrick, Herrington & Sutcliffe LLP acted as legal advisor to esVolta for the transaction, while Buchanan Ingersoll & Rooney PC advised Computacenter Holdings. The ITC transfer closed after the Black Walnut project reached commercial operation.
The Black Walnut project adds to esVolta’s California battery storage portfolio, which includes operational and in-construction assets participating in organized power markets. Across the United States, esVolta’s operational and under-construction projects total approximately 1.7 GWh of energy storage capacity, with additional projects in development.
Within the CAISO market, standalone battery energy storage projects are being deployed to provide capacity, ancillary services, and system flexibility. Black Walnut operates as a grid-connected utility-scale storage asset supported by structured financing arrangements.
Randolph Mann, Chief Executive Officer of esVolta, stated that the Black Walnut transaction demonstrated the use of multiple financing structures to support battery energy storage development across key U.S. markets.
Wendy Coticchia, SVP – Compliance, Americas & APAC at Computacenter, said the company’s participation in the Black Walnut project reflected its approach to allocating capital toward grid-connected energy storage investments.