Lydian Energy has closed a $233 million project financing deal for three large-scale battery energy storage system (BESS) projects in Texas. The financing covers the 150MW/391MWh Headcamp, 200MW/521MWh Crane, and 200MW/521MWh Pintail battery storage projects. These developments mark a major milestone for the company’s growth and the wider U.S. energy storage sector.

Project Highlights

The three projects will operate in the Electric Reliability Council of Texas (ERCOT) merchant market. While Lydian may consider offtake agreements, all projects are currently expected to run on a merchant basis.

• CATL will supply the lithium-ion battery systems for all three sites.

• ING served as the lender for the Crane and Pintail projects.

• KeyBank financed $94 million for the Headcamp project.

• Tax credit bridge financing was secured through ING and KeyBank, supported by co-investment capital from Excelsior’s Fund II.

Company Overview

Founded in 2024, Lydian Energy launched with a 1.75GW portfolio of solar and battery storage projects across the U.S. Backed by Excelsior Energy Capital, Lydian now oversees a 4.7GW portfolio spanning 20 solar and storage projects.

Looking Ahead

Lydian plans to begin construction later this year and is actively pursuing additional funding to support its growing pipeline. CEO Emre Ersenkal emphasized the company’s commitment to building reliable energy infrastructure and delivering value to both customers and investors. These projects represent a pivotal step in supporting Texas' grid reliability and the broader U.S. clean energy transition.