The BESS projects align with Lydian’s strategy to enhance grid performance through reliable and affordable renewable energy sources within Texas.
The financing, announced on July 11, 2025, includes $139 million from ING for the 200MW/400MWh Pintail and Crane projects, and $94 million from KeyBank, structured by KeyBanc Capital Markets, for the 150MW/300MWh Headcamp project. All three initiatives are part of Excelsior Energy Capital’s Fund II, which recently raised over $1 billion. Construction is underway, with operations expected to begin in the fourth quarter of 2025.
Lydian Energy CEO Emre Ersenkal stated: “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.”
The financing packages include tax credit bridge funding from ING and KeyBank, supplemented by co-investment capital from Excelsior’s Fund II limited partners. Lydian is actively pursuing additional funding to expand its portfolio, with new projects planned to start construction in 2025.
Anne Marie Denman, co-founding partner of Excelsior Energy Capital and Lydian Energy’s board chair, said: “These financings represent more than capital – they reflect the strong demand for reliable energy infrastructure in high-growth US markets. We’re proud to stand behind Lydian’s talented team as they deliver on the promise of battery storage with bankable projects, proven partners, and disciplined execution.”
In December 2024, Excelsior Energy Capital signed a multi-year 7.5 gigawatt-hour reservation agreement with LG Energy Solution Vertech to support its growing portfolio of clean energy projects across the United States. The Texas BESS projects underscore Lydian’s commitment to meeting the increasing demand for reliable and sustainable energy, contributing to grid stability and supporting the transition to renewable energy sources in high-growth markets.
