Lydian Energy acquires Hanwha Renewables' Atlas North solar and battery energy storage portfolio in North America

Lydian Energy completed the acquisition of Hanwha Renewables' Atlas North portfolio, a late-stage solar and battery energy storage (BESS) platform in North America with a total capacity of 1.5 GW across four projects. The portfolio includes over 1 GW of solar generating capacity and 450 MW / 1,800 MWh of battery storage, all connected to the CAISO grid via a 500 kV generation-tie transmission line linking to the Cielo Azul Switchyard and Ten West Link transmission line. Most of the electricity and capacity from the portfolio is under long-term offtake agreements with California load-serving entities, ensuring revenue stability for the acquired assets. The acquisition represents Lydian Energy's largest investment to date, expanding its portfolio to 18 solar and storage projects totaling 4.4 GW once finalized. Emre Ersenkal, CEO of Lydian Energy, emphasized the strategic importance of the deal in accelerating the firm's clean energy initiatives in the U.S.

Counterparts (3)

parent_company

Excelsior Energy Capital

company · 1 deals

Excelsior Energy Capital is an independent private equity firm that invests in middle-market energy infrastructure projects across North America. They focus on renewable energy, power generation, and related infrastructure assets.

Buyer

Lydian Energy

company · 1 deals

Washington, DC-based renewable energy developer and operator specializing in utility-scale solar and battery storage projects across the U.S., with a 5.1 GW pipeline spanning 6 states.

Seller

Hanwha Renewables

company · 1 deals

Hanwha Renewables develops utility-scale solar and storage projects in the US, backed by the financial strength of Hanwha Group and vertical integration with Qcells for domestic module manufacturing. They offer turnkey renewable energy development solutions, focusing on solar and battery energy storage systems.