Great Bay Royalties Closes $295MM in Financing for 5.9 GW of ERCOT “Batch Zero” Deposits to Power Texas’s Data Center Boom
Great Bay Royalties (“GBR”), through its interconnection-financing subsidiary Great Bay Credit & Finance (“GBCF”), today announced the successful close of its inaugural large-load interconnection deposit financings in support of the Electric Reliability Council of Texas (“ERCOT”) Batch Zero large-load interconnection process. GBCF financed $295 million of Batch Zero deposits, supporting 5.9 GW of new data center projects across multiple utilities in ERCOT’s territory.
To address an unprecedented wave of AI infrastructure and other large load projects — a queue exceeding 490 GW — ERCOT developed a new transitional large-load interconnection process known as “Batch Zero,” implementing Texas Senate Bill 6 (2025) and approved by the Public Utility Commission of Texas. To participate, projects were required to post and maintain financial security with their interconnecting utility equal to $50,000 per MW of requested peak load, along with site control and other qualification requirements, while ERCOT conducts a system-wide study to allocate available transmission capacity among participating projects.
“Access to the grid has become a defining bottleneck of the modern economy and nowhere is that clearer than in ERCOT’s large-load queue,” said Frank Getman, CEO of Great Bay Royalties. “Batch Zero required developers to commit hundreds of millions of dollars in deposits before being allocated any capacity. By financing those deposits, we let our partners utilize their own capital to advance and accelerate the large load projects Texas needs.” In addition to funding the initial Batch Zero deposits, GBCF is actively refinancing Batch Zero deposits so developers can redeploy those funds to advance critical projects.
GBCF has closed interconnection financing facilities with 16 independent developers to provide interconnection deposit financing for nearly 50 generation and load projects in MISO, PJM, SPP, and ERCOT, representing more than 21 GW of U.S. electrical infrastructure development.
About Great Bay Royalties
Great Bay Royalties is a leading investor in royalty and credit-based financing solutions for energy infrastructure assets. To date, the company has committed approximately $1.2 billion in the sector, creating royalty agreements on over 38 energy projects totaling approximately 9.1 GW and providing interconnection financing for more than 21 GW of energy and load projects. Great Bay allows energy leaders to think beyond the bank with a growing suite of specialized products. We provide flexible, partner-aligned capital to developers and operators across renewable energy, emerging power technologies, and mission-critical infrastructure. Great Bay’s management team has extensive experience in energy development, financing, and operations across a range of technologies throughout the United States. Learn more at https://www.greatbayroyalties.com/ or follow us on LinkedIn. For additional information regarding Great Bay, please contact us at info@greatbayroyalties.com.