Capacity Power Group (CPG) is on a mission to develop grid connected battery energy storage projects that deliver effective grid support and drive forward the clean energy transition. Founders Charly Bray and Boris Feldman have leveraged a combined 30 years of industry experience to build an impressive 1 gigawatt pipeline of standalone front-of-the-meter energy storage solutions across the U.S. The developer has seen such a positive market response that it recently started to explore expanding into new markets.
But development is an expensive game and growth requires capital.
"We made a conscious decision to take more control of our destiny," said Charly. "And we realized that as we have the opportunity to develop more broadly, we needed a partner who not only had the financial capabilities to provide us with working capital, but also shared our vision and mission."
Among the financing options, Leyline's Growth Capital stood out as a compelling product that would enable CPG to keep its equity while drawing on Leyline's debt facility to fund project development. Leyline Growth Capital offers a fast way for newly formed developers with a seasoned team to get cash, develop a pipeline, and reach business milestones more quickly.
"Often, we have to give up equity to get our projects funded," said Boris. "We really liked the idea of maintaining control over our future, and that's what Leyline Growth Capital allowed us to do."
"It felt like a thoughtful and equitable transaction," added Charly. "It was detailed and transparent. And because CPG and Leyline's incentives are aligned, we were reassured that our projects would become viable assets."
It was also clear that Leyline's expert team knew CPG's business model and knew how to facilitate project development to help CPG maximize the value of its investments.
"We were really impressed with Leyline's clear process and certainty of execution," said Charly. "We had to be sure our financial partner was credible and provided us with a clear path from Point A to Point B. Our discussions with Leyline left us feeling confident we could get the deal done together."
"Leyline offered the right mix of self-determination and control, capital costs, and strategic assistance," said Boris. "It's got a really smart team of folks who really understand the development process, risks, and what was needed to get projects to completion."
With the support of Leyline Growth Capital, CPG is now in the process of developing roughly 570 megawatts across four markets. "We've identified a clear and concise strategy, and thanks to Leyline, our company can be fully in execution mode, stated Charly. "Leyline's contribution is key for allowing developers like us to do what we do."
"It makes me incredibly happy that there is such a robust demand for renewables and projects in the industry," said Boris. "I love the idea of being in the right place at the right time, but we wouldn't have that without the right funding. Leyline has really helped us bring our vision of the market to a reality."
About Capacity Power Group
Capacity Power Group (CPG) focuses on Front-of-the-Meter Energy Storage Systems (ESS). CPG works with our partners on strategically located, stand-alone ESS projects to address grid constraints and provide services to select grid networks in the Western United States. CPG has built a proprietary intelligence platform which includes GIS, technical and financial power market modeling capabilities. This along with our experienced services network facilitates rapid and efficient deployment of capital by investors in high-value utility-scale power projects.