LEYLINE RENEWABLE CAPITAL PROVIDES $10 MILLION IN GROWTH CAPITAL TO LAUNCH NEW DEVELOPMENT PLATFORM FOR SOLTERRA ENERGY
Summary
Funding Will Support New Utility-Scale Solar Projects Across Southeast, PJM and MISODURHAM, N.C. , June 16, 2022 /PRNewswire/ -- Leyline Renewable Capital (Leyline), a leading provider of capital solutions for renewable energy developers, is pleased to announce a partnership with Solterra Energy (Solterra), formerly Solterra Partners LLC, to provide $10 million in early-stage growth and development capital to support up to 1GW of distributed generation (DG) and utility-scale solar energy projects across the eastern United States.While a variety of solar financing options exist for large companies and de-risked project portfolios, early-stage developers have lacked a route to funding without the cost of losing equity in their company. Their portfolio is expected to include utility-scale solar projects within Southeastern US, PJM and MISO service territories that should be operational prior to 2030. "By working with Leyline for our capital needs we get an experienced and seasoned partner who will provide expertise throughout the development process beyond what we could bring in house. Backed by a team of seasoned investors with deep experience in the renewable industry, Leyline provides financing that bridges the gap between development and construction. Solterra works closely with landowners and government agencies on the siting, permitting and successful construction of solar farms with the goal of bringing their expertise together for the benefit of the environment.