Lightshift Energy Locks In $40-Million Credit Line as Project Pipeline Nears Build Phase

• Lightshift Energy secures a USD 40 m credit facility from Aiga Capital to fund deposits and interconnection as its US battery-storage projects enter construction.

US battery-storage developer Lightshift Energy has secured a corporate credit facility of up to USD 40 million from infrastructure investor Aiga Capital Partners. The financing gives the Arlington-based company working capital to post interconnection and PPA security, make equipment deposits and cover other near-term costs as a large share of its portfolio moves from late-stage development into construction during H2 2025 and 2026. 

Bridging development to steel-in-the-ground

Lightshift says the revolving facility will help smooth cash requirements on multiple utility-scale projects that are due to break ground within the next 12 months. The company’s pipeline includes:

• Vermont’s largest battery system — a 16-MW/52-MWh installation at GlobalFoundries’ Essex Junction semiconductor plant, slated to start building later this year and go online in early 2026. 

• A second 11-MW/44-MWh project for Danville Utilities in Virginia, designed to shave peak demand and cut transmission charges by roughly USD 30 million over its 20-year life. 

Financial runway extended

The new credit line follows Lightshift’s March 2024 equity raise of USD 100 million from Greenbacker Capital Management, which is being used to expand the team and advance its multi-state storage portfolio. Together, the two facilities equip the 2019-founded developer with both long-term growth capital and short-term liquidity as it transitions into the construction and ownership of projects. 

Why it matters

With US grid-scale storage additions forecast to double by 2027, developers must post ever-larger security deposits and equipment down-payments months before first revenue. Lightshift’s blended financing model—equity for platform build-out and a flexible credit line for project working capital—illustrates how mid-sized players are structuring balance sheets to stay competitive amid rising interconnection costs and supply-chain lead times.