Leyline Renewable Capital, a leading renewable energy investment firm, has announced a strategic partnership with Grid Connected Infrastructure (GCI), a developer specializing in utility-scale battery storage projects. The collaboration aims to facilitate the development of extensive standalone battery energy storage system (BESS) projects throughout the United States.
GCI, established in 2022, has set an ambitious target of deploying over 1 gigawatt (GW) of large-scale BESS capacity across the country within the next four years. To kickstart its greenfield project development process, GCI has secured a non-dilutive loan facility of up to $22.5 million from Leyline's Growth Capital division.
By leveraging the financial support from Leyline, GCI will expedite the acquisition of crucial real estate assets and assemble a team of experienced professionals dedicated to project development. Over the next two years, GCI will utilize the resources provided by Leyline's financing to fast-track its operations and establish a solid foundation for growth.
Leyline Growth Capital specializes in fostering rapid expansion for small, early-stage startups like GCI, which possess expertise in development and operations but may lack the necessary assets or cash flow. In contrast to traditional early-stage private equity investment, which typically involves equity exchange with new teams, Leyline Growth Capital offers non-dilutive debt solutions.
The provided loan is typically short-term, spanning three to five years, and can be utilized to fuel business development, facilitate acquisitions, and cover overhead costs. This financial structure enables GCI to focus on its core competencies while benefiting from Leyline's support in scaling up its operations.
Over the next six months, GCI plans to initiate the launch of a minimum of six projects in tradable markets such as the California Independent System Operator (CAISO), New York Independent System Operator (NYISO), and Electric Reliability Council of Texas (ERCOT). By strategically positioning these projects in key markets, GCI aims to maximize their commercial viability and contribute to the overall stability and efficiency of the electricity grid.
The collaboration between Leyline Renewable Capital and Grid Connected Infrastructure underscores the shared commitment to advancing renewable energy infrastructure in the United States. By combining their respective expertise and resources, the partnership is poised to drive significant progress in the deployment of large-scale battery energy storage systems, further cementing the role of energy storage in enabling a sustainable and resilient energy future.
