Bayonne, New Jersey –  April 20, 2026  – TigerGenCo LLC (“TigerGenCo”), a U.S.-based independent power producer, announced today the successful closing of a $146 million senior debt financing to support the development of a 50 MWAC / 200 MWh utility-scale battery energy storage system (“BESS”) located in NYISO. The transaction included senior debt provided by KeyBank and BBVA, as well as an uncommitted tax credit bridge loan.

The BESS project, known as Bayonne Energy Center III (“BEC III”), benefits from a 15‑year fixed‑price tolling agreement with Consolidated Edison Company of New York, providing long‑term, contracted revenues supported by an investment‑grade utility counterparty. The project is co‑located with TigerGenCo’s existing thermal generation facility, the Bayonne Energy Center in NYISO Zone J, allowing the company to leverage existing interconnection infrastructure and experienced on‑site operations.

The project is sponsored by Morgan Stanley Infrastructure Partners and Marathon Capital acted as exclusive financial advisor on the transaction and continues to support TigerGenCo’s Phase II tax equity financing.

“Tapping into TigerGenCo’s existing infrastructure and long‑standing relationships in New York allowed us to advance a highly efficient storage project that supports grid reliability and decarbonization,” said Matthew Tripoli, Vice President of Development at TigerGenCo. “Marathon Capital’s expertise and hands‑on approach were instrumental throughout the financing process, particularly given the project’s structuring and ownership considerations.”

“TigerGenCo brings a strong track record in developing, financing, and constructing complex power assets. The Bayonne Energy Center III project reflects that experience, combining contracted cash flows, strategic co‑location, and a financing structure designed to support long‑term performance.” Jorge Rodriguez, Managing Director & Head of Debt Capital Solutions, at Marathon Capital