Leyline Provides Financing to EIP Storage to Develop Energy Storage Pipeline

Leyline Renewable Capital (“Leyline”), a leading provider of flexible capital solutions for renewable energy developers, announced financing for energy storage developer EIP Storage, LLC (“EIP Storage”). With the support of Leyline’s Growth Capital product, EIP Storage will fund the planned development of more than 2 GWs of utility-scale energy storage projects over the next five years.

EIP Storage emerged from Energy Intelligence Partners, a grid-edge and energy storage consulting firm founded in 2013 by Edward May and Ron DiFelice, two industry veterans with over 40 years of combined energy and investment experience. For almost a decade, Energy Intelligence Partners provided consulting expertise to companies, utilities, IPPs, and developers pursuing emerging opportunities in energy storage and the greater energy sector. Over that time, the team has consulted on or co-developed over 5 GWh of solar plus storage and stand-alone energy storage projects.

Leyline’s non-dilutive loan will enable EIP Storage to develop its own pipeline of energy storage projects on balance sheet over the next five years. EIP Storage plans to build a full development team while launching new projects across multiple U.S. markets.

“I have known Edward and Ron for years and have wanted to work with them for a long time. Their industry knowledge and reputations are exactly who we are looking for as development partners,” said Leyline CEO Erik Lensch. “Energy storage is vital for a resilient grid based on renewable generation, and we are excited to support EIP’s efforts.”

“We are excited to be working with Erik and the Leyline team to build an energy storage development platform that will help accelerate the energy transition,” said Ron DiFelice, CEO of EIP Storage. “Leyline has the perfect mix of financial capabilities and development knowledge to supplement our extensive energy storage experience and help us drive success.”

About Leyline Renewable Capital

Leyline Renewable Capital invests in the development of utility scale renewable energy projects. Backed by a team of seasoned investors with deep experience in the renewable industry, Leyline provides financing that supports early-stage development through construction. By investing in the early stages of renewable energy projects, Leyline accelerates the development process and helps developers scale quickly without taking dilution. Leyline leverages a broad base of experience in greenfield project development, design, construction, and finance with an extensive network of relationships with industry leaders to provide support and capital for projects from concept to commercial operation.

About EIP Storage, LLC

EIP Storage is an energy storage project developer co-founded by industry veterans Dr. Ron DiFelice and Edward May with a focus on utility-scale project development. EIP Storage is building a first-in-class team to support rapid and efficient green-field stand-alone energy storage project development in U.S. markets. info@eipstorage.com

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