The company works closely with developers distributed in the renewable energy sector to provide capital for the pre-construction phase of complex, utility-scale projects that include permitting, engineering, site analysis and securing interconnection agreements.
Fremont, CA: One of the leading providers of pre-construction capital for renewable energy development, Leyline Renewable Capital, entered into a financing agreement with Core Solar LLC, a developer of utility-scale, de-risked solar energy projects. As per the terms of the deal, Leyline will provide development-stage capital to carry out the development of 600 MW of utility-scale solar projects that are representative of a portion of Core Solar's pipeline spread across the U.S.
"Projects like these are the backbone of the next-generation clean energy economy and experienced, proven developers like Core Solar can effectively put our capital to work ," said Erik Lensch, CEO of Leyline Renewable Capital. "This investment will enable Core Solar to accelerate its already extensive development pipeline and ensure that these critical projects have the resources they need to move quickly to construction."
The company works closely with developers distributed in the renewable energy sector to provide capital for the pre-construction phase of complex, utility-scale projects that include permitting, engineering, site analysis and securing interconnection agreements. The early funding round has been designed to accelerate and streamline development, which will increase the long-term value of the critical projects.
"Core Solar has an established and diverse portfolio of successful solar energy projects across the U.S. and we knew that accelerating growth meant finding a partner who could not only provide capital, but also understood the unique structure and challenges of the renewable energy industry," said Greg Nelson, President and CEO of Core Solar. "Leyline brings a level of experience and sophistication that differentiates them in our space. Erik and his team understand that early-stage development of solar projects must have access to flexible capital as we continue to expand our solar platform."
Core solar provides an analytical, data-based approach to project development, identifying the markets and sites where utility-scale solar can have the most significant impact and return. The partnership with Leyline complements and enhances this approach, enabling the flexible capital required to move projects forward and catalyze them for future success. The ongoing relationship with Core Solar will help Leyline grow its portfolio and add to the dozens of solar, anaerobic digestion and energy storage projects that it is financing across the United States.