Infranity, an infrastructure investment affiliate of Generali, has provided a $300m (€267m) credit facility to US renewable energy platform Lydian Energy.
Lydian, backed by Excelsior Energy Capital, will use the financing to fund the development, construction, acquisition and operation of its 6GW portfolio of utility-scale battery-energy storage systems and solar projects.
Emre Ersenkal, CEO of Lydian, said: “Closing this facility is an important milestone for Lydian. Infranity structured a bespoke solution that lets us leverage the value in our operating and construction-ready assets to accelerate the next stage of our pipeline.
“We’re proud to partner with a lender that took the time to understand how we build and operate, and we look forward to delivering the reliable energy infrastructure our markets need.”
Sacha Kamp, global head of debt investment of Infranity, said: “We are pleased to partner with Lydian on this milestone financing. The transaction is underpinned by a portfolio of high-quality contracted projects and a strong pipeline of energy infrastructure assets developed and owned by Lydian.
“Combined with the support of an experienced and committed sponsor, these attributes provide a compelling foundation for long-term growth. We look forward to supporting Lydian as it continues to expand its platform and deliver critical energy infrastructure across the US.”
Chris Moakley, managing partner at Excelsior Energy Capital and chair of the board of Lydian Energy, said: “Excelsior backed Lydian on the conviction that a disciplined, execution-driven team could build a leading energy infrastructure platform, and this financing is a strong endorsement of what the team has built.
“It gives Lydian efficient, scalable capital to grow its portfolio as demand for reliable, domestically produced power continues to rise. We’re pleased to welcome Infranity as a partner and remain committed to supporting Lydian’s long-term growth.”
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