Lydian Energy has secured $689m in financing to support the development of two solar power projects and one battery storage project in the US. The funding, provided by CIBC and MUFG, will be used for the AC Ranch 1 solar project in New Mexico, the Yellow Viking facility in Texas and the Faraday BESS (battery energy storage system) in Utah. The financial package includes a construction-to-term loan, a co-investment bridge loan, a tax credit bridge loan and a letter of credit facility. AC Ranch 1 is a 75 ...