Minnesota-based independent power producer (IPP) Lydian Energy has made its official launch with a portfolio of 1.75GW of solar and battery storage projects in the US.
The initial portfolio currently consists of nine projects to be built in the US states of Texas and New Mexico. The company will specialise in the development, construction and operation of utility-scale solar PV and battery energy storage systems (BESS) projects across North America.
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The IPP is backed by capital from renewables energy investor Excelsior Energy Capital, while its pipeline of projects will cater to commercial, industrial and utility customers.
Two of the solar projects – AC Ranch I and AC Ranch II – are in the pre-construction phase and have a commercial operation date (COD) of 2026-2027. Both projects will be built in the city of Hobbs, New Mexico, and have a capacity of 100MW (AC Ranch I) and 300MW (AC Ranch II).
Currently three of the BESS projects have been unveiled and are located in Texas. All three have a COD of 2025 and are in the pre-construction phase. They have a cumulative capacity of 550MW/1.1GWh and two-hour duration.
The technology used for either the solar PV or BESS projects has not been unveiled yet.