DURHAM, N.C., June 27, 2023 /PRNewswire/ — Leyline Renewable Capital, a leading provider of development loans for renewable energy projects, today announced a project development loan for renewable energy developer RAI Energy. With the support of Leyline Development Capital, RAI is advancing multiple large utility-scale solar and solar-plus-storage projects in the Western Energy Coordinating Council (WECC) market over the next four years.
RAI was founded by renewable energy veteran Mohammed S. Alrai in 2016 to focus on utility-scale renewable energy projects in western markets. Mohammed previously led the development of power projects with Calpine, BP Solar, and Regenerate Power before launching his own development company. Mr. Alrai is joined by industry veterans with more than 100 years of combined experience in developing the multi-gigawatt pipeline of projects in WECC.
“The RAI Energy team lead by Mohammed has proven they not only have the industry knowledge but also the personal energy and problem-solving ability to get large scale projects across the finish line,” said Todd Kice, Managing Director of Originations at Leyline. “The low-hanging fruit in our industry has been picked, so to speak, and utility- scale projects are going to get harder to complete in the years to come. You need experience as well as resilience to be successful; Mohammed has the creativity and the tenacity to work through the unexpected issues that inevitably arise and get projects done.”
“We’re thrilled to enter into this agreement with Leyline as a partner to accelerate our growth,” said Mohammed S. Alrai, Founder and CEO of RAI Energy. “Their invaluable experience navigating the highs and lows of development, extensive industry knowledge, and adaptable financing approach make them an outstanding financial partner as we expand our project portfolio. This financing will not only enable us to achieve our company’s vision, but also allow us to grow our team further.”
Leyline was advised on this transaction by an advisory team from Holland & Knight led by Lara Rios. RAI Energy was advised by an advisory team from Orrick led by Thomas Glascock. Bill Chamberlin at KeyBanc Capital Markets served as the financial advisor for RAI Energy on this transaction.
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. www.leylinecapital.com
About RAI Energy
RAI Energy is a Western US focused renewable energy development company with a proven track record of developing more than 750 MW of utility-scale and distributed generation solar and energy storage, including multiple projects now in operation and a 150MW/600MWh hybrid solar and BESS plant now under construction. RAI Energy is on track to develop a 4-gigawatt (GW) project portfolio, driving decarbonization efforts across the energy sector by 2027. Through continuous innovation and excellence, RAI Energy takes pride in being a nimble provider of reliable, affordable, profitable zero and low-carbon solutions. By serving as a trusted navigator for all smart energy project stakeholders, RAI Energy is enabling customers to become clean energy leaders while providing environmental and economic benefits for local communities—leading the U.S. into a sustainable energy future. www.raienergy.com
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RAI Energy International, Inc. Media Relations
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