Leyline Renewable Capital, a provider of pre-construction capital for renewable energy, signed a deal with Core Solar LLC, to provide development-stage capital for 600 MW of utility-scale solar projects representing a portion of Core Solar’s pipeline across the United States.
“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.”
Leyline Renewable Capital works closely with developers throughout the renewable energy sector to provide capital for the pre-construction phase of complex, utility-scale projects, including permitting, engineering, site analysis and securing interconnection agreements. This early funding is designed to accelerate and streamline development, increasing the long-term value of these 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 brings an analytical, data-based approach to project development, identifying the markets and sites where utility-scale solar can have the greatest impact and return. This relationship with Leyline complements and enhances that approach, providing the flexible capital needed to move projects forward and catalyze them for future success. For Leyline, this ongoing relationship with Core Solar will grow its portfolio and add to the dozens of solar, anaerobic digestion and energy storage projects it is financing across the United States.
— Solar Builder magazine