Congrats to Lightshift Energy for closing a $75 million credit facility with KeyBanc Capital Markets to support Lightshift’s rapidly growing pipeline of energy storage projects across the East Coast. 🎉 The financing backs six of Lightshift’s operational projects while also enabling the advancement of 10 projects currently in and nearing construction. At a time when the growing need for energy is heightened by advancements in AI and data centers, this will allow Lightshift to bring new projects online quickly and at scale.
Yesterday Lightshift Energy closed a $75 million project finance facility with our trusted partners at KeyBanc Capital Markets. This is a huge milestone for our company and it’s a big deal for the industry too. The non-recourse facility spans 16 projects (for now), 3 states, 2 ISOs/RTOs and a variety of offtake structures. It’s a strong demonstration of (1) bankability for unique storage models that we’ve groomed in-house, and (2) the scale potential of energy storage at the distribution-level where there is a distinct “speed to power” advantage. As data center demand and electrification surges against legacy infrastructure and inadequate supply, speed to power has become paramount. At the same time, there’s a real need for fast-response batteries that can address the volatility of AI demand. This deal shows that we’ve now got another powerful, financeable solution to meet today’s load growth challenges head-on. Among the initial 16 projects being financed, is our 16MW GlobalFoundries project in Vermont, which will be the largest battery installation in the state once operational in early 2026. The portfolio also includes municipal utility projects that will collectively save ratepayers hundreds of millions of dollars by easing pressure on their transmission systems. Together, these projects demonstrate how flexible, distribution-level batteries can deliver firm capacity at scale and at lowest cost without waiting years for new transmission buildout and supply entry. The grid needs firm and fast capacity, fast, and we’ve got an answer for that. Stay tuned for a lot more of the same as we roll out our high impact pipeline in 2026 and beyond. Thank you to our incredible team at Lightshift – every single member of our tight-knit company owns an important piece of this accomplishment. I am immensely proud of what we have done and could not be more excited for the road ahead. Press here: https://lnkd.in/eX_Q_8zf Ryan Miamis, Kirstin Hirai, John Stout, Michael Herbert, Gregory Berman, Oliver Janssen MBA, Satya Ghanta, E. Clare Morter, CFA, Ben Cooper, Lisa Ryder