Independent power producer Lydian Energy has announced it has achieved financial close on three battery energy storage system (BESS) projects across the state of Texas in the US.
The Dutch multinational banking firm ING was the lender for the Pintail and Crane BESS projects located in the San Patricio and Crane Counties. Both BESS projects are 200MW/400MWh and are said to represent approximately $139 million.
The 150MW/300MWh Headcamp BESS project in Pecos County has received $94 million from the banking company KeyBanc. KeyBanc Capital Markets has structured the financial package for the project.
The firm has a portfolio of 20 solar and storage projects totalling 4.7GW of capacity and made these projects in the Electric Reliability Council of Texas (ERCOT) market.
All three BESS projects have been developed under the private equity firm Excelsior Energy Capital’s fund for renewable energy aimed at projects that strengthen grid performance in key power markets.
The facilities are under construction and will be placed in service in Q4 2025.
Emre Ersenkal, CEO, Lydian Energy, said: “This financing marks an important step forward as we continue executing on our vision to scale transformative battery storage projects that meet the evolving energy needs of the communities we serve.”
Sven Wellock, managing director and head of energy – renewables & power, ING, said: “Our support of Lydian’s portfolio reflects ING’s focus on identifying strategic funding opportunities that align with the accelerating demand for sustainable power. Battery storage plays a central role in supporting grid resilience, and we’re pleased to back a platform with strong fundamentals and a clear execution path.”
Image: The state flag of Texas, USA. Credit: Summer Woods.
