Lydian Energy secures $233 million from ING and KeyBank to build three battery storage facilities in Texas.
The projects will add 550 megawatts of capacity, helping stabilize the Texas power grid by late 2025.
Texas’s energy storage capacity is projected to reach nearly 14,000 MW by September, up from 4,700 MW two years ago.
The investment reflects a strategic focus on infrastructure projects that address grid instability amid rising energy demand.
Lydian Energy, an independent power producer, secured $233 million in financing from ING and KeyBank to build three massive battery storage facilities. The projects will add 550 megawatts of capacity to help stabilize the Texas power grid.
Dollars for demand: The deal includes a combined $139 million from ING for the Pintail and Crane systems, with a separate $94 million package from KeyBank for the Headcamp facility. The batteries, to be supplied by CATL, are already under construction and slated to go online in late 2025.
A battery gold rush: The investment comes amid a massive energy storage boom in Texas. The state’s grid operator, ERCOT, is projecting it will have nearly 14,000 MW of storage online by September—a huge leap from around 4,700 MW two years ago.
Cutting through the noise: Anne Marie Denman, a partner at investor Excelsior Energy Capital, framed the deal as a way to cut through market “noise,” noting that “capital flows where infrastructure is satisfying fundamental needs of our society.”
Follow the money: As energy demand soars, the deal shows that investors are prioritizing capital-intensive infrastructure projects that offer practical solutions to grid instability over market hype. Much of Texas’s grid strain is being driven by an explosion in demand from data centers, and this deal is just one part of Lydian’s backer, Excelsior Energy Capital, making a larger strategic push into battery storage, including a major supply deal with Fluence.
