Clean energy developer Lydian announced it has secured $689 million in financing, aimed at supporting its solar and battery energy storage projects in Texas, Utah and New Mexico.
Founded in 2024, Lydian Energy provides distributed solar and energy storage for commercial, industrial, and institutional customers. Its current portfolio includes 18 solar and storage projects totaling 4.4 GW of capacity, according to the company.
Lydian Energy is wholly-owned by clean energy infrastructure investor Excelsior Energy Capital’s Fund II, which invests in equity in solar, energy storage, wind, and other energy transition projects across the U.S.
The financing was arranged by CIBC and MUFG and includes a Construction-to-Term Loan, Tax Credit Bridge Loan, Co-Investment Bridge Loan, and a Letter of Credit Facility.
Chris Moakley, Co-Founder and Managing Partner, Excelsior Energy Capital and Chair of the Board at Lydian Energy said:
“We are proud that these financings are helping meet the need for reliable, sustainable, and affordable domestic energy and very grateful for the commitment of MUFG, CIBC, and other participating lenders.”
