Leyline Renewable Capital, a leading provider of pre-construction capital for renewable energy development, has entered into a financing arrangement with New England Solar Garden (NESG), a solar developer based in New Hampshire. Leyline will provide development-stage capital to support NESG’s growing business throughout the Northeast, facilitating the development of more than 30 solar projects that will enable approximately 2.7 million kilowatt hours per year.
“At Leyline, we love developers who are committed to specific markets – and that’s why we’re investing in the team at NESG,” said Leyline CEO Erik Lensch. “Our partnership has enabled the Leyline team to think outside the box in developing a creative approach to fit NESG’s needs. We have also learned how Leyline can be most valuable as NESG’s business continues to grow.”
With 10 years of experience in the solar industry, NESG currently has more than 200 megawatts in development for different ownership groups and more than 25 megawatts built – enough electricity to power 26,000 homes in New England.
“This funding enables NESG to scale our business and kickstart numerous solar projects across New England,” said NESG CEO Clarke Fenner. “Leyline’s commitment to combatting climate change through this critical investment was a game changer for NESG. We look forward to continuing our work with Leyline as these projects come to life.”
As Leyline wraps up the year and embarks on new projects in 2021, solar projects will continue to be a priority vertical for the company. Utilizing a readily available and reliable source of energy such as the sun has been proven to make a substantial contribution to de-carbonizing the U.S. energy grid. The announcement comes amid a series of milestones for the Leyline team, including recently surpassing 4 gigawatts of renewable energy projects.