Leyline Renewable Capital Provides Growth Capital to Launch New Energy Storage Developer, Navitas Energy

Leyline Renewable Capital, a leading provider of flexible capital solutions for renewable energy developers, announced a partnership with Navitas Energy. Leyline's investment of early-stage growth capital will accelerate Navitas' development of 500 to 1000 MW of standalone storage in the ERCOT market within the next five years. 

Renewable energy asset owners and project financiers typically look for large, de-risked portfolios, leaving a market gap for early-stage capital solutions. Leyline fills that gap by providing non-dilutive financing, which will allow Navitas' founder to keep control of the company, while growing its portfolio of projects. In addition to capital, Leyline's leadership team brings more than 30 years of project development experience and will provide on-call development support for the Houston-based company.

"Though a new company, Navitas' founder has a wealth of experience in the development, optimization, and trading of power generation assets," said Leyline CEO Erik Lensch. "We're excited to work with Navitas to create flexible power generation for ERCOT."

The ERCOT market is undergoing a rapid shift in market fundamentals – renewable energy deployment is surging, driving thermal generation retirement. Navitas' energy storage development will provide significant value to the region, as it increases reliability and supports the increased penetration of renewable energy.

"Bringing more energy storage to ERCOT is critical to increasing the capacity and deployment of renewable energy in a state that is experiencing a major increase in demand on the grid," said Vipul Devluk, director of originations at Leyline. "Our partnership with Navitas is just one way in which Leyline brings renewable energy to market through flexible capital solutions." 

Leyline Renewable Capital | https://leylinecapital.com/

Navitas Energy | https://navitas.us.com/