HomeJune 30, 2021
Starwood, Leyline Form JV For Battery Storage In Texas, PJM
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Leyline Renewable Capital ("Leyline"), a provider of debt and equity capital for renewable energy development and construction, and Starwood Energy Group Global ("Starwood Energy"), a private investment firm that specializes in energy infrastructure investments, today announced a newly formed joint venture that will partner with American Power Ventures ("APV") to develop and finance two standalone battery storage projects.
The joint venture is providing APV with capital to develop battery storage projects in the Virginia PJM territory and Texas ERCOT territory with a total capacity of 400 MWac/1400 MWh.
Starwood Energy intends to purchase the assets of the battery storage projects post-development.
New Jersey-based APV has managed or developed more than 5 GW of power since its inception in 2011.
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