Lydian Energy, an Excelsior Energy Capital-backed developer, owner and operator of energy infrastructure projects, and Infranity, an established infrastructure asset manager, closed a $300 million holding company credit facility. The facility will provide capital for the development, construction, acquisition and operation of Lydian’s expanding portfolio of utility-scale battery energy storage systems and solar renewable energy projects.
“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,” Emre Ersenkal, CEO of Lydian, said. “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 at Infranity, added, “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 United States.”
The facility is expected to give Lydian additional flexibility to accelerate the buildout of its pipeline by leveraging the value of its existing projects. The financing is also expected to strengthen the company’s ability to capitalize on rising power demand and renewable energy incentives as grid modernization and electrification continue to accelerate across the United States.
“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,” Chris Moakley, managing partner at Excelsior Energy Capital and chair of the board of Lydian Energy, said. “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.”
The financing strengthens Lydian’s ability to advance projects from development through construction while retaining ownership of operating assets that can generate long-term stakeholder value.
Akin Gump provided legal counsel to Lydian Energy. Eversheds Sutherland provided legal counsel to Infranity.
