Renewables investor and financier—Leyline Renewable Capital—has plans to provide financial support to Ohio-based Momentum Energy Storage Partners, which would develop up to 2 GW of battery projects across the US.
Leyline will help fund Momentum’s activities before it obtains construction financing from long-term investors. The developer will seek to secure the necessary performance guarantees, revenue contracts and long-term operations and maintenance (O&M) deals for its projects.
Leyline’s funding will facilitate the development of some projects that are already underway within the Pennsylvania, Jersey, Maryland Power Pool, and Electric Reliability Council of Texas (ERCOT) regions.
The partnership will support both stand-alone battery storage and solar-plus-storage projects that represent USD2 billion in capital investments.