Urban Grid, one of the largest U.S. greenfield renewable energy project developers, expanded and extended its partnership with Crayhill Capital Management, a New York-based, minority-owned private credit manager focused on asset-based investments in the renewable energy sector.

The financing provides Urban Grid with $275M of flexible, efficient capital that will be deployed to advance projects into the construction phase and continue the scale up of Urban Grid's solar and energy storage platform.

"Since 2019, our partnership with Crayhill Capital Management has enabled the growth and supported select project monetizations of our solar PV and energy storage pipeline," said Frank DePew, Urban Grid Founder & CEO. "Access to this highly flexible capital enables our team to take projects through final development and into operations, across multiple regions, benefiting the surrounding clean power economy while enhancing the value of our entire platform."

Today, the Urban Grid project pipeline includes 12.7 GWDC of PV and 3.7 GWAC of co-located and stand-alone energy storage.

"Crayhill is excited to continue its partnership with the Urban Grid team and support the growth and development of its business," said Josh Eaton, Managing Partner of Crayhill Capital. "The demand for high-quality solar projects continues to be robust and Urban Grid is positioned to extend its leadership role in U.S. utility-scale solar and storage development. We continue to be enthusiastic about leveraging our expertise in greenfield solar project financing to aid in the global energy transition."

In the past 2+ years, Urban Grid has efficiently expanded its team to over 60 people, deepening its in-house development, engineering and project origination expertise and built proprietary technology across the platform. The continuation of the Urban Grid and Crayhill partnership is significant and reinforces the firm's capabilities – to efficiently and profitably deploy capital ­– as it readies to deploy at least 8 GW of clean power over the next five years.