Gridi Development Secures Financing for Battery Energy Storage Projects in New York

Gridi LLC, a prominent battery energy storage development firm based in New York, has recently completed a significant financing transaction with Rosemawr Management LLC. This strategic partnership is crucial for developing and advancing Gridi's expansive portfolio of battery energy storage systems (BESS) across New York State. The closing of this interconnection financing facility, which occurred on May 4, 2026, will enable Gridi to enhance its already impressive capabilities in the renewable energy sector.

Enhancing the BESS Pipeline

The proceeds from the financing facility will primarily be directed toward funding interconnection deposits related to Gridi's portfolio of standalone BESS projects. Currently, Gridi boasts over 60 projects that are actively being developed, contributing more than 300 MW of capacity within New York State. The firm has established itself as a key player in the market, leveraging supportive state policies such as the NYSERDA incentives, 25-year VDER compensation, and the Statewide Solar for All initiative.

Gridi operates with a robust in-house development team, working closely with its affiliate, Delaware River Solar (DRS), to ensure projects progress smoothly through the development cycle. DRS has an impressive track record, having developed and built more than 100 community solar farms with a capacity exceeding 400 MW since its inception in 2016.

A Major Milestone

Dan Green, President of Gridi, emphasized that securing this financing is a vital milestone for the company. It will allow them to improve their interconnection queue positions and continue moving projects toward the notice to proceed (NTP) phase. This financing not only boosts their project completion trajectory but also reflects significant investor confidence in Gridi's strategic vision and operational efficiency.

Rich Weihe, Managing Director at Rosemawr, pointed out that this investment exemplifies their mission to provide flexible capital tailored to the energy infrastructure sector. It highlights Rosemawr's commitment to assisting developers in financing interconnection deposits, fueling the growth of sustainable energy solutions.

Future Impact on New York

Dan Rittenhouse, CEO of Catalina Energy Capital, which served as the exclusive financial advisor for Gridi during this transaction, remarked on the considerable potential of these projects to stimulate economic growth throughout upstate New York. By decreasing emissions and reducing long-term energy costs, Gridi's initiatives are set to play a pivotal role in bolstering local economies.

As Gridi continues to advance its projects, its influence within the renewable energy landscape is expected to grow. The New York energy market stands to benefit significantly from the company’s ongoing efforts, as they are poised to enhance energy infrastructure reliability while adhering to environmental sustainability.

About Gridi LLC

Gridi LLC is focused on standalone battery energy storage development in New York State. As an affiliate of Delaware River Solar, the company is shaping the future of clean energy with its growing portfolio of projects across various service territories, including National Grid, NYSEG, and ORU.

About Rosemawr Management LLC

Founded in 2008, Rosemawr is an investment management firm that specializes in sustainable infrastructure, with a diverse portfolio encompassing solar, energy storage, and energy efficiency assets across the United States.

About Catalina Energy Capital, Inc.

Catalina is a boutique investment bank dedicated to the renewable energy sector, providing essential capital raise and transaction advisory services focused on clean energy infrastructure.

In conclusion, the closing of this financing facility marks a new era for Gridi Development as they push forward into a promising future in renewable energy. With a clear vision, supportive partnerships, and a commitment to sustainability, Gridi is set to make a lasting impact on the energy landscape in New York.