Lydian Energy closes US$233 million financing for three Texas BESS provided by CATL

LinkedIn
Twitter
Reddit
Facebook
Email
CATL Tener energy density degradation
Lydian’s projects include the 150MW/391MWh Headcamp BESS, the 200MW/521MWh Crane BESS and the 200MW/521MWh Pintail BESS. Image: CATL.

IPP Lydian Energy has successfully closed on a US$233 million project financing for three battery energy storage system (BESS) projects in Texas, US.

Energy-Storage.news recently reported on the announcement that consulting, engineering and quality control firm Enertis Applus+ would act as an independent engineer on the three projects.

Lydian’s projects include the 150MW/391MWh Headcamp BESS, the 200MW/521MWh Crane BESS and the 200MW/521MWh Pintail BESS.

Speaking with ESN, Emre Ersenkal, CEO of Lydian Energy, said that lithium-ion battery manufacturer CATL would be supplying the BESS for the projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Additionally, Ersenkal noted that Lydian expects to operate the three projects on the Electric Reliability Council of Texas (ERCOT) merchant market but may explore offtake contracts.

ING acted as the lender for the Pintail and Crane projects in San Patricio and Crane Counties, Texas.

KeyBank provided a US$94 million financing package for Headcamp in Pecos County, with KeyBanc Capital Markets also structuring the deal.

The tax credit bridge financings from ING and KeyBank are supported by co-investment capital from Excelsior’s Fund II limited partners. Lydian is also seeking more funding to expand its project pipeline, with construction anticipated to begin later this year.

Lydian officially launched in 2024, with a 1.75GW portfolio comprising solar and battery storage projects in the US.

Currently, Lydian claims to have a portfolio of 20 solar and storage projects totalling 4.7GW of capacity.

The company is backed by capital from renewables energy investor Excelsior Energy Capital.

In late 2024, Excelsior Energy Capital contracted with LG ES Vertech for a 7.5GWh BESS supply and system integration. LG ES’s equipment is produced in the US to satisfy local content rules. Given that the battery company is based in South Korea, it is unlikely to be classified as FEOC, which is expected to affect Chinese companies.

That deal came after Excelsior signed a 2.2 Gwh supply agreement with Fluence, a US-headquartered company that manufactures its systems in the US, with approximately half of its battery cell supply originating from US-based suppliers.

Ersenkal says these deals do not have an impact on Lydian’s three projects, but that the company “anticipate(s) working closely with these partners and other suppliers to deliver the most reliable infrastructure for our customers and strongest economics for our investors.”

11 November 2025
San Diego, USA
The 2024 Summit included innovative new features including a ‘Crash Course in Battery Asset Management’, Ask-Me-Anything formats and debate-style sessions. You can expect to meet and network with all the key industry players again in 2025 from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more.
24 February 2026
InterContinental London - The O2, London, UK
This isn’t just another summit – it’s our biggest and most exhilarating Summit yet! Picture this: immersive workshop spaces where ideas come to life, dedicated industry working groups igniting innovation, live podcasts sparking lively discussions, hard-hitting keynotes that will leave you inspired, and an abundance of networking opportunities that will take your connections to new heights!

Read Next

August 22, 2025
Three companies, Energy Vault, Richardson Electronics, and Fluence, have made strategic moves to create a secure BESS equipment supply chain.
August 22, 2025
State-owned utility Western Power has commissioned five new community batteries in Perth suburbs as part of a federally funded initiative in Western Australia.
Premium
August 21, 2025
What does Trump’s tax reconciliation bill mean for US solar and BESS project development and construction right now? We hear from developer-operator Agilitas Energy CEO Barrett Bilotta.
August 21, 2025
Two North American companies, Powin and Li-Cycle, were recently acquired by FlexGen and Glencore, respectively, after announcing bankruptcy.
August 21, 2025
ACE Power has confirmed the sale of the 103MW/206MWh Kerang grid-forming BESS in the Loddon Valley region of Victoria, Australia.

Most Popular

Email Newsletter