Lydian Energy has announced the successful financial close of its first institutional project financing, totaling $233 million.
The independent power producer (IPP) specializes in the development, construction, and operation of utility-scale solar and battery energy storage system (BESS) projects across North America.
The financing is backed by ING and KeyBank, and supports three BESS projects in Texas’ ERCOT power market.
Lydian’s projects include the 150MW/391MWh Headcamp BESS, the 200MW/521MWh Crane BESS, and the 200MW/521MWh Pintail BESS. All three advance the IPP’s mission to provide reliable and affordable renewable energy that strengthens the grid in key markets.
“This financing marks an important step forward as we continue executing on our vision to scale transformative battery storage projects that meet the evolving energy needs of the communities we serve,” said Emre Ersenkal, CEO at Lydian Energy, in a statement.
The facilities are currently under construction and are scheduled to be placed in service in Q4 2025.
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