Leyline Renewable Capital will use the funding provided by Newlight Partners to invest in renewable projects in US
Leyline Renewable Capital, a provider of development financing, has received $150m of investment from Newlight Partners to finance renewable energy projects across the US.
With the investment, Leyline will be able to identify and provide development-stage debt and equity, supporting renewable energy projects.
Leyline develops, builds and finances renewable energy projects that focus on efficient project development, reducing risk and increasing investor returns.
Its portfolio includes utility-scale solar projects, as well as anaerobic digesters which process organic waste into renewable natural gas.
Leyline has invested $2bn in 1GW power generating capacity in over 170 projects
To date, Leyline claims to have developed, financed and constructed more than $2bn in more than 170 projects, totaling 1GW electricity, equating to 140,000 metrics tonnes of greenhouse gas reductions.
Leyline Renewable Capital CEO Erik Lensch said: “By taking a patient view on the projects we choose to support we are able to identify promising opportunities for renewable energy projects and build deeper relationships with developers, ensuring projects are successful and profitable.
“Newlight Partners recognizes a clear opportunity with our team’s unique experience at the forefront of the renewable energy market and this new funding will help us advance the development of renewable energy projects at their critical early stage. With Newlight’s support we will work to accelerate the clean energy market from coast to coast.”
Leyline claims to offer to the funding and expertise needed to ensure that complex renewable energy projects meet aggressive deadlines while managing variability.
Newlight Partners managing director Mark Longstreth said: “Leyline Renewable Capital has a firm track record of identifying, cultivating and funding some of today’s most talented renewable energy developers. As cost-competitive and distributed renewable technologies scale quickly, the developers of these projects are increasingly underserved by traditional financing sources.
“Leyline understands their needs and long-term goals and is positioned to be the go-to investor for entrepreneurial developers who are essential if cities, states and major corporations are to achieve their ambitious renewable energy targets.”
The firm continues to manage Windstar Fund I, which jumpstarted major energy projects. In January, the fund raised $12.5m in equity funding to provide development-stage capital for renewable energy infrastructure projects.