In a significant move towards advancing renewable energy initiatives, Leyline Renewable Capital has announced its provision of a project development loan to RAI Energy. This financing will facilitate the realization of multiple large utility-scale solar and solar-plus-storage projects in the US Western Energy Coordinating Council (WECC) market over the next four years.
Founded in 2016 by Mohammed S Alrai, RAI Energy has been dedicated to spearheading utility-scale renewable energy projects within western markets. Alrai, who previously played pivotal roles in power project development at esteemed companies such as Calpine, BP Solar, and Regenerate Power, has since launched his own development company. Accompanying Alrai is a team of industry veterans boasting over 100 years of combined experience in developing a robust multi-gigawatt pipeline of projects within the WECC region, as affirmed by Leyline.
Todd Kice, Managing Director of Originations at Leyline, expressed his confidence in RAI Energy, stating, “The RAI Energy team, led by Mohammed, has unquestionably showcased their industry expertise, personal drive, and problem-solving abilities necessary to successfully bring large-scale projects to fruition. As the proverbial low-hanging fruit within our industry has been harvested, utility-scale projects are becoming increasingly challenging to complete in the years ahead. To achieve success, experience and resilience are indispensable qualities. Mohammed possesses the creative thinking and unwavering determination required to navigate unexpected hurdles and deliver completed projects.”
In response to the partnership, Mohammed Alrai expressed his enthusiasm, remarking, “We are delighted to enter into this agreement with Leyline as our partner, enabling us to accelerate our growth. Leyline's invaluable experience in navigating the dynamic landscape of development, coupled with their extensive industry knowledge and adaptable financing approach, positions them as an exceptional financial partner as we expand our project portfolio. This financing will not only empower us to realize our company's vision but also facilitate further expansion of our dedicated team.”
The collaboration between Leyline Renewable Capital and RAI Energy exemplifies a concerted effort to drive the adoption of renewable energy sources, reinforcing the commitment towards a sustainable and cleaner future.
