Elda River Expands Investment in Black Mountain Power to Over $200 Million
Elda River expands investment in Black Mountain Power to over $200 million to support the Company’s advancement of digital infrastructure sites across Texas.
The expanded financing builds on Elda River’s initial commitment in 2025 and provides additional capital to support interconnection-related requirements across BMP’s project portfolio as the Company advances sites through ERCOT’s large-load interconnection process.
“Black Mountain Power’s continued commercial momentum and disciplined execution have positioned the Company as a leader in Texas powered-land development,” said Michael Dean, Partner at Elda River. “We are pleased to expand our commitment to Black Mountain Power as the Company advances its project pipeline to capture surging demand for well positioned digital infrastructure sites across ERCOT.”
“Elda River has been a strategic partner since our initial financing, and their expanded support enables us to keep our project portfolio moving on the timelines that our hyperscale counterparties require,” said Rhett Bennett, Founder & CEO, Black Mountain Power.
The expanded financing reflects Elda River’s continued conviction in the structural demand for power-proximate, shovel-ready digital infrastructure sites across ERCOT and in BMP’s disciplined approach to capturing early-mover premiums in Texas digital infrastructure land development.
Eversheds Sutherland (US) LLP served as legal counsel to Elda River; Kelly Hart & Hallman LLP served as legal counsel to Black Mountain Power.
About Elda River Capital Management
Elda River Capital is a real assets investment firm focused on energy and energy infrastructure opportunities. The Elda River team has committed over $7.0 billion using a differentiated investment approach that prioritizes direct sourcing and strong alignment with talented executives. Elda River is headquartered in Houston, Texas and maintains additional offices in Chicago, Illinois and London. Visit www.eldariver.com for more information.
About Black Mountain Power
Black Mountain Power LLC is a Texas-focused digital infrastructure land development platform advancing hyperscale-ready, powered-land sites through land control, permitting, power contracting and interconnection, regulatory approvals, and potentially COD. Founded in 2024, BMP is part of the Black Mountain family of companies created by Rhett Bennett in 2007. The Black Mountain team has overseen investment of more than $2.0 billion across energy verticals, including oil and gas, water infrastructure, battery storage, royalties, and metals and mining.