Storage developer GCI completes $22.5 financing

June 19, 2023

Leyline Renewable Capital has provided US utility-scale battery storage developer Grid Connected Infrastructure (GCI) with a non-dilutive loan facility of up to $22.5 million to launch its greenfield project development process.

Leyline’s commitment will enable GCI – which has been operating in energy storage project development since 2013 –  to develop large-scale standalone battery energy storage system projects across the US.

GCI will use the funding to “move quickly to acquire key real estate assets and build an expert development team” over the next two years.

GCI will be launching at least six projects over the next six months in tradable markets such as CAISO, NYISO, and ERCOT.