BESS Power Corp. has announced the establishment of a project debt financing facility of up to $15 million with Leyline Renewable Capital.
Leyline will provide this growth capital to accelerate the development of BESS Power's energy storage pipeline. With Leyline's support, BESS Power will fund the planned development of target 2.4 gigawatts (GW) of utility-scale stand-alone energy storage projects over the next four years.
Leyline's non-dilutive loan will enable the progression of BESS Power's flagship project, Lund Storage Center, in addition to expediting the development process for projects in the states of Texas, Arizona, Tennessee and New Mexico, among others. Located in Travis County, Texas, the Lund Storage project has recently confirmed power capacity of 407.55 megawatts (MW), establishing it as one of the largest utility-scale stand-alone energy storage projects in the state of Texas and offering significant value to Electric Reliability Council of Texas (ER