Lydian Energy has secured $233 million in project financing to support three battery energy storage system (BESS) projects in Texas’ ERCOT power market. ING and KeyBank backed the financing. The three projects are Pintail, Crane, and Headcamp, having a combined capacity of 550 MW. The projects are currently under construction and are expected to be placed in service in the fourth quarter of 2025.
ING served as the lender for the Pintail and Crane projects, located in San Patricio and Crane Counties. Each of these facilities has a capacity of 200 MW/400 MWh and represent a combined investment of around $139 million. Furthermore, KeyBank provided a $94 million financing package for the 150 MW/300 MWh Headcamp project in Pecos County. KeyBanc Capital Markets also structured the financing package for Headcamp. The projects are developed under Excelsior Energy Capital’s Fund II.
Lydian Energy is a US based independent power producer specialising in the development, construction, and operation of utility-scale solar and battery energy storage projects. The company has a portfolio of 15 projects across 3 states with a combined capacity of 3.6 GW.
