Leyline Renewable Capital Provides $28 Million in Financing to Golden State Clean Energy

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Oct 01, 2024, 07:00 ET

Investment Supports the Development of Over 1900 MW of Solar and Energy Storage Projects Across California

DURHAM, N.C., Oct. 1, 2024 /PRNewswire/ -- Leyline Renewable Capital (Leyline), a leading provider of debt capital solutions for renewable energy developers, today announced a $28 million financing package for Golden State Clean Energy (GSCE). This funding, which comprises various types of capital invested for projects in different stages of development, will drive the advancement of more than 1.9 GW of solar and energy storage projects in California.

Leyline's investment will ensure that GSCE has the necessary resources to bring its ambitious project portfolio to fruition with an emphasis on mid to late-stage projects.

"Leyline Renewable Capital is proud to support Golden State Clean Energy in their mission to expand California's renewable energy infrastructure," said Eric Rubinstein, Chief Commercial Officer at Leyline Renewable Capital. "Our investment in GSCE reflects our commitment to providing strategic capital that enables developers to overcome financial barriers and accelerate the deployment of clean energy projects."

This financing marks a significant milestone in the partnership between Leyline and GSCE, highlighting Leyline's role as a key financial partner in the renewable energy sector. With this support, GSCE is well-positioned to continue its leadership in the development of utility-scale solar and energy storage projects in the California market.

"GSCE has a proven record and a clear vision for the future of renewable energy," added Rubinstein. "This partnership exemplifies Leyline's dedication to advancing the clean energy transition through innovative structuring; Leyline was able to offer two costs of capital that reflect different risk profiles in the development stage of these assets and allows the developer to be more efficient in their capital structuring."

About Leyline Renewable Capital
Leyline Renewable Capital provides flexible financing solutions for renewable energy developers. With deep industry expertise and a commitment to sustainability, Leyline invests in the pre-construction phase of projects, helping developers scale their operations and bring more renewable energy online. For more information, please visit: leylinecapital.com

About Golden State Clean Energy
Golden State Clean Energy, LLC is California's premier infrastructure developer, reimagining master-planned development strategies for renewable energy and electric transmission, clean energy sources, and water. Golden State Clean Energy develops innovative solutions that push the envelope of scope and scale to meet California's unique sustainability challenges and stakeholders – maximizing value for participants and investors; proven results with numerous economic, job, labor and benefits for local communities; strongly support the environment and stakeholders while benefiting the state, regional objectives and the ratepayers. To learn more about Golden State Clean Energy, visit goldenstatecleanenergy.com.

SOURCE Leyline Renewable Capital