Walden Renewables Secures Up To $250 Million Development Capital Financing Facility From Crayhill Capital Management

Walden Renewables Development LLC ("Walden"), a U.S. based renewable energy developer focused on developing, constructing, and operating utility-scale solar photovoltaic ("PV") and battery energy storage system ("BESS") projects across major U.S. power markets, announced the closing of a $250 million revolving development capital financing facility with Crayhill Capital Management. The facility will support the continued development and construction of Walden's 5 GW platform of solar and storage projects across PJM, MISO, SPP, ISO-NE and SOCO territories.  Proceeds will support both pre- and post- NTP projects as Walden advances its integrated development and independent power producer ("IPP") growth strategy.

Crayhill's Managing Director, Shweta Kapadia, said, "We are pleased to provide this credit facility to Walden Renewables as the company advances the development of its renewable energy efforts across the country and continues strengthening its position as a growing IPP.  As demand for renewable energy accelerates, developers increasingly require flexible capital to build the infrastructure needed to meet it. We look forward to partnering with the Walden team as they execute on the next phase of the platform's growth."

"Closing this facility marks a major milestone for Walden," said Henry Weitzner, CEO and co‑founder of Walden Renewables. "Partnering with Crayhill accelerates our ability to build an industry‑leading integrated development/IPP platform. Crayhill's sector expertise, capital strength and commitment to growing companies will be instrumental as we scale our pipeline.  This funding enables us to capitalize on the burgeoning demand for new energy sources across the US by delivering projects tailored to evolving regional needs."

Crayhill Capital Management | https://crayhill.com/

Walden Renewables | https://waldenrenewables.com/