Leyline Renewable Capital Funding, Investors & Competitors

Leyline Renewable Capital has raised $360M across 2 funding rounds, most recently a $210M undisclosed-stage round in December 2024.

Last Leyline Renewable Capital funding round

$210M

Undisclosed stage · Dec 2024

Cumulative funding Leyline Renewable Capital raised

$360M

across 2 funding rounds

Key investors in Leyline Renewable Capital

  • Newlight Partners
  • Keystone National Group

Leyline Renewable Capital Overview

About Leyline Renewable Capital

Leyline Renewable Capital is a financing provider targeting the pre-construction phase of renewable energy projects such as solar and energy storage developments across the United States.


Founded

2016

HQ

United StatesDurham, NC

Status

Privately held

Customer focus

B2B

Revenue model

Investment management

Leyline Renewable Capital Funding History

Leyline Renewable Capital has raised a total of $360M across 2 funding rounds.

Leyline Renewable Capital's first fundraising round was a $150M undisclosed-stage round in October 2019. The most recent completed round was a $210M undisclosed-stage round in December 2024.

Leyline Renewable Capital funding rounds

Leyline Renewable Capital funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2024Undisclosed stageKeystone National Group (lead)$210MLeyline Renewable Capital is a provider of debt capital solutions for renewable energy developers, founded in 2016. The company specializes in financing mid and late-stage project development portfolios, supporting grid interconnection deposits and equipment down payments for renewable energy projects. Since inception, Leyline has deployed more than $340 million in financing solutions to advance more than 15 gigawatts of renewable energy projects across North America. On December 10, 2024, Leyline announced it had secured $140 million in capital from Keystone National Group and a large public university foundation. This funding was intended to expand support for an actionable pipeline of renewable energy projects sourced from the company's network of experienced developers. In January 2025, Leyline secured an additional $70 million from Keystone National Group. The company is composed of former developers and leverages deep industry expertise to navigate policy and market nuances while maximizing risk-adjusted returns for investment partners.
Oct 2019Undisclosed stageNewlight Partners (lead)$150MLeyline Renewable Capital is a provider of development financing, including debt and equity, for pre-construction renewable energy projects across sectors like utility-scale solar and anaerobic digesters that convert organic waste into renewable natural gas. On October 17, 2019, the firm announced a $150 million investment from Newlight Partners LP, a spinout from Soros Fund Management, to expand its ability to support renewable energy developers throughout the United States. This funding builds on Leyline's prior Windstar Fund I and enables broader investment in complex, long-term projects to accelerate the clean energy transition. The Leyline team had previously developed, financed, and/or constructed more than $2 billion across 170+ projects totaling over 1GW of electricity capacity, equivalent to 140,000 metric tons of greenhouse gas reductions. Newlight Partners, led by David Wassong and Ravi Yadav, recognized Leyline's expertise in addressing financing gaps for entrepreneurial developers underserved by traditional sources. The investment positions Leyline to meet growing demand from cities, states, and corporations pursuing renewable energy targets. Later updates note Leyline surpassing 4.1GW in transactions post-investment, with Newlight's support continuing into subsequent activities like development loans for projects such as a 100MW solar initiative.

Who has invested in Leyline Renewable Capital?

2 investors have backed Leyline Renewable Capital across its funding rounds, including Newlight Partners and Keystone National Group.

Lead investors include Keystone National Group and Newlight Partners.


Leyline Renewable Capital Investors

Investors in Leyline Renewable Capital by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Investments by Leyline Renewable Capital

Leyline Renewable Capital has invested in 1 company to date.

Latest investment by Leyline Renewable Capital was on June 16th 2022. Leyline Renewable Capital invested in Solterra Partners in their $10M Series A round.


Latest Investments by Leyline Renewable Capital

Solterra Partners
Description
Solterra Partners is a renewable energy developer acquiring and constructing solar projects throughout the United States. Denver-based, the firm originates utility-scale photovoltaic farms on brownfield sites and agricultural land. It handles permitting, financing, and operations for plants connected to regional grids. Solterra Partners sells power under long-term contracts to utilities like Xcel Energy. The portfolio exceeds hundreds of megawatts in operational capacity across the Midwest and Southwest.
HQ CountryUnited States
HQ City
Charlotte, NC
Deal Date16 Jun 2022
RoundSeries A
Raised$10M
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Leyline Renewable Capital Competitors

Leyline Renewable Capital competitors include listed companies like GE Vernova, Iberdrola, China Yangtze Power and Constellation Energy, and private ones like Adani New Industries and Helion Energy.

Public and private companies comparable to Leyline Renewable Capital
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GE VernovaUnited StatesUnited StatesPublicly listed$38B$3.2B$246B5.4x
IberdrolaSpainSpainPublicly listed$51B$17B$158B4.3x
China Yangtze PowerChinaChinaPublicly listed$13B$11B$104B11.3x
Constellation EnergyUnited StatesUnited StatesPublicly listed$26B$5B$93B3.8x
Adani New IndustriesIndiaAhmedabadPrivate--$50B-
Helion EnergyUnited StatesSeattle, WAPrivate--$16B-

Leyline Renewable Capital Public Comps

Leyline Renewable Capital is still privately-owned, but its public comps include GE Vernova, Iberdrola, China Yangtze Power, Constellation Energy, Brookfield, Brookfield Asset Management, Vistra, ACWA Power, Vestas and Ørsted.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GE Vernova$38B$3.2B6.2x5.4x73.5x43.5x
Iberdrola$51B$17B4.4x4.3x13.2x11.8x
China Yangtze Power$13B$11B11.4x11.3x13.9x14.4x
Constellation Energy$26B$5B4.6x3.8x23.5x15.3x
Brookfield$75B$32B6.1x59.5x14.4x64.8x
Brookfield Asset Management$4.6B$3.2B17.6x13.6x25.1x24.6x
Vistra$18B$5B4.0x3.3x13.9x10.2x
ACWA Power$2B$1.1B22.3x19.9x41.9x36.4x

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Common questions about Leyline Renewable Capital

When was Leyline Renewable Capital founded?Leyline Renewable Capital was founded in 2016.
Where is Leyline Renewable Capital headquartered?Leyline Renewable Capital is headquartered in Durham, NC, United States.
Is Leyline Renewable Capital publicly listed?No, Leyline Renewable Capital is a private, VC-backed company.
How much funding has Leyline Renewable Capital raised?Leyline Renewable Capital has raised $360M across 2 funding rounds.
What was Leyline Renewable Capital's last funding round?Leyline Renewable Capital's last funding round was a $210M undisclosed-stage round in December 2024, led by Keystone National Group.
Who are Leyline Renewable Capital's investors?Leyline Renewable Capital's investors include Newlight Partners and Keystone National Group.
Which companies are comparable to Leyline Renewable Capital?Companies comparable to Leyline Renewable Capital include GE Vernova, Iberdrola, China Yangtze Power, Constellation Energy, Adani New Industries and Helion Energy.
How many companies has Leyline Renewable Capital invested in?Leyline Renewable Capital has invested in 1 company, including Solterra Partners.
What was Leyline Renewable Capital's last investment?In June 2022, Leyline Renewable Capital invested in Solterra Partners' $10M Series A.

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