Lydian Energy is a new entrant to the North American solar energy industry as the renewable energy independent power producer (IPP) launched itself recently. Focused on utility-scale solar and battery energy storage projects, the company is backed by private equity firm Excelsior Energy Capital.
The company will undertake development, construction and operation of utility-scale solar and battery energy storage projects across North America.
With an initial project portfolio of 9 projects comprising a combined 1.75 GW solar and battery storage capacity in Texas and New Mexico, Lydian aims to cater to the commercial, industrial and utility customers. It will target to develop high-potential mid- to late-stage renewable energy assets.
"As highly credible partners and engaged neighbors, our aim is to lead meaningful economic and environmental opportunities by developing and operating renewable energy assets that serve the needs of all stakeholders – landowners, communities, utilities, customers, and investors," said Lydian Energy CEO Emre Ersenkal. "We have the funding, pipeline, and expertise to adapt, move quickly, and uncover efficiencies, while remaining systematic in our approach and steadfast in our pursuits."
Excelsior's Partner and Co-Founder, and Chair of Board at Lydian Energy, Anne Marie Denman said Excelsior will work closely with Lydian to drive value creation.
The launch of Lydian follows Excelsior selling a portfolio of 38 solar energy and solar+storage projects from its Fund I portfolio to BlackRock's Evergreen Infrastructure Partners Fund in March 2024. Excelsior said this is its 1st exit from its inaugural fund launched 7 years ago.
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