2 minute read | July.13.2023
RAI Energy secured a loan from Leyline Renewable Capital to develop utility-scale solar and solar-plus-storage projects in the Western Electricity Coordinating Council (WECC) market over the next four years. Orrick advised RAI Energy.
RAI Energy is renewable energy development company focused on the Western U.S. It has a 750 MW+ portfolio of utility-scale and distributed generation solar and energy storage projects. The company advances decarbonization by providing reliable, affordable and profitable zero- and low-carbon solutions.
Leyline Renewable Capital invests in the development of utility-scale renewable energy projects, providing financing that supports early-stage development through construction. Through its investment in early stage renewable energy projects, Leyline enables developers to scale quickly without taking dilution.
The loan will support RAI Energy’s growth and empower it to develop a 4 GW project portfolio in the WECC market by 2027. RAI Energy partners with stakeholders to benefit local communities and spur economic growth, ensuring landowners, corporate offtakers and utilities work in partnership to accelerate the deployment of clean energy on the grid.
"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 in a press release. "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."