Latest news with #LightshiftEnergy
Business Wire
5 days ago
- Business
- Business Wire
Lightshift Energy Secures up to $40 Million Corporate Credit Facility From Aiga Capital Partners to Accelerate Energy Storage Portfolio
ARLINGTON, Va.--(BUSINESS WIRE)--Lightshift Energy, a leading energy storage developer, owner, and operator today announced the financial close of a credit facility for up to $40 million with Aiga Capital Partners ("Aiga'), an institutional investment platform that specializes in innovative financing solutions for North American-based companies developing sustainable infrastructure assets. The facility will serve as a strategic tool to support Lightshift's rapidly growing portfolio by funding interconnection and power purchase agreement ('PPA') security requirements, equipment deposits, and other uses. The expandable credit line comes at a critical time as Lightshift transitions a significant portion of its pipeline into construction during the second half of 2025 and into 2026. 'This financing milestone strengthens our balance sheet and positions Lightshift to execute with speed and certainty as we bring more of our high-impact projects online,' said Rory Jones, Co-Founder and Managing Partner at Lightshift Energy. 'We are pleased to partner with Aiga, whose innovative approach to structured credit supports our mission to advance a more resilient, capable and lower-cost grid.' 'At Aiga, we are committed to delivering creative, scalable financing solutions to best-in-class developers leading the energy transition,' said Angel Fierro, Managing Partner at Aiga Capital Partners. 'Lightshift has demonstrated both the technical expertise and disciplined execution needed to drive the next generation of battery storage deployment, and we are excited to support their ambitious build-out.' With this transaction, Lightshift Energy further establishes itself as a trusted partner to utilities, large-load customers, and communities seeking reliable and flexible clean power solutions. About Lightshift Energy Lightshift Energy is a utility-scale energy storage project developer, owner and operator headquartered in Arlington, Virginia. Founded in 2019, Lightshift is developing a diverse, multi-gigawatt pipeline of energy storage projects, located throughout the U.S. With leading energy storage analytics, application design, finance, and development expertise, Lightshift deploys dynamic, multi-use energy storage projects that maximize value for utilities and other partners, while reinvesting directly into the communities where their projects are located. For more information, please visit About Aiga Capital Partners Aiga is a minority-owned investment platform supporting the energy transition with structured debt and equity solutions for developers of sustainable assets in North America. In an effort to contribute towards net zero emission goals, its strategy targets growth capital deployment opportunities in renewable energy, energy storage and other sustainable infrastructure sectors. To learn more, visit:
Business Wire
18-06-2025
- Business
- Business Wire
Lightshift Energy and Groton Electric Light Department Unveil Innovative Energy Storage Microgrid to Strengthen Community Resilience
GROTON, Mass.--(BUSINESS WIRE)--Groton Electric Light Department (GELD) and Lightshift Energy, a leading energy storage project developer, owner and operator, on Wednesday hosted a ribbon-cutting ceremony to unveil a second battery storage project and microgrid in Groton, Massachusetts. The energy storage project will primarily serve two key needs: reducing grid load during peak events, saving millions for GELD customers, and providing direct backup power to Florence Roche Elementary School. Solidifying Massachusetts as a leader in the nation's clean energy deployment, representatives from across the state, including State Undersecretary of Energy Michael Judge, participated in the project ribbon cutting ceremony. The speakers celebrated how this 3 megawatt battery storage project is a testament to the state's innovative approach to clean energy with the pairing of a peak shaving project and microgrid that brings multiple benefits to the local community. GELD Manager Jonathan Patterson said GELD is pleased to bring these projects to the community. 'We are proud to offer the school and our ratepayers in Groton an innovative solution to help maintain low rates while enhancing reliability, reducing Groton's peak demand, and lowering carbon emissions,' said Patterson. GELD is one of the first municipal utilities to implement a multi-use microgrid to serve as direct backup power for critical infrastructure while also providing savings to the community. The Groton II microgrid became operational in August 2024 and is the second energy storage project in an ongoing partnership between Lightshift and GELD. Groton I, also 3 megawatts, became operational in July 2024. 'Groton II delivers both cost savings and critical backup power, maximizing the value of energy storage for the community,' said Lightshift Co-Founder and Managing Partner Rory Jones. 'This project reflects the leadership and innovative thinking of GELD, and we're proud to partner on their efforts to strengthen local energy resilience, support clean energy and create value for the community.' "The Groton II microgrid provides an innovative solution to providing energy at the Florence Roche Elementary School and to residents of Groton,' said State Representative Danillo Sena. 'The project is a unique and exciting opportunity to lower energy prices while providing backup power to vital infrastructure. I'm so excited to see the success of this new microgrid!" About Groton Electric Light Department The Groton Electric Light Department (GELD) has served the community of Groton since 1909. Currently serving approximately 5,000 customers, GELD's mission over the past 116 years has been to provide power at the highest degree of reliability, and at the lowest cost that fiscal prudence dictates. GELD is committed to incorporating additional clean resources into its power portfolio, striving to be part of the solution when it comes to climate change. About Lightshift Energy Lightshift Energy is a utility-scale energy storage project developer, owner and operator headquartered in Arlington, Virginia. Founded in 2019, Lightshift is developing a diverse, multi-gigawatt pipeline of energy storage projects, located throughout the U.S. With leading energy storage analytics, application design, finance, and development expertise, Lightshift deploys dynamic, multi-use energy storage projects that maximize value for utilities and other partners, while reinvesting directly into the communities where their projects are located. For more information, please visit
Associated Press
22-05-2025
- Business
- Associated Press
Lightshift Energy to Build Vermont's Largest Energy Storage Project to Power Semiconductor Manufacturing for GlobalFoundries
ARLINGTON, Va.--(BUSINESS WIRE)--May 22, 2025-- Lightshift Energy, a leading developer, owner, and operator of energy storage projects, will build Vermont's largest battery energy storage project at GlobalFoundries' semiconductor manufacturing facility in Essex Junction. The project, which has completed permitting and contracting, will begin construction this year and is set to come online in early 2026. This project represents a forward-thinking approach to integrating battery technology within a large-scale manufacturing facility. Connecting directly to GF's switchyard, the 16MW/52MWh system will be used primarily for peak shaving by storing electricity during periods of low regional demand and discharging it during peak times to alleviate grid stress. By lowering peak energy usage, the project will also improve regional grid resilience and reduce reliance on fossil fuels, particularly during high-demand periods when natural gas is the primary fuel source on the New England grid. 'GF has been a great partner on this project, which will not only reduce energy costs for its Vermont campus but also support regional electric reliability and Vermont's clean energy goals,' said Michael Herbert, Lightshift Co-Founder and Managing Partner. 'This project represents new applications for energy storage within the semiconductor industry, demonstrating how managing peak demand can improve efficiency for industrial operations, and how energy storage can be used to mitigate the impacts of large loads on the electric grid.' 'GF has consistently demonstrated its commitment to sustainable manufacturing and maintaining global competitiveness right here in Vermont, while also being a supportive corporate citizen for the community. Partnering with Lightshift aligns perfectly with these objectives and supports the sustainability goals of our customers, while propelling both GF and Vermont forward,' said Ken McAvey, General Manager of GF Vermont. About Lightshift Energy Lightshift Energy is a utility-scale energy storage project developer, owner and operator headquartered in Arlington, Virginia. Founded in 2019, Lightshift is developing a diverse, multi-gigawatt pipeline of energy storage projects, located throughout the U.S. With leading energy storage analytics, application design, finance, and development expertise, Lightshift deploys dynamic, multi-use energy storage projects that maximize value for utilities and other partners, while reinvesting directly into the communities where their projects are located. For more information, please visit View source version on CONTACT: Media Contacts: Laura Coriell [email protected] KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA VERMONT INDUSTRY KEYWORD: TECHNOLOGY SEMICONDUCTOR OTHER ENERGY UTILITIES OIL/GAS COAL ALTERNATIVE ENERGY ENERGY NUCLEAR BATTERIES SOURCE: Lightshift Energy Copyright Business Wire 2025. PUB: 05/22/2025 09:05 AM/DISC: 05/22/2025 09:05 AM
