Global consultancy Enertis Applus+ has played a key role in securing a $75 million credit facility for Lightshift Energy, accelerating the deployment of battery energy storage systems across the US East Coast and reinforcing battery storage as vital for grid resilience and clean energy transition.
Global renewable energy engineering consultancy Enertis Applus+ has played a pivotal role in enabling Lightshift Energy to secure a $75 million credit facility from KeyBanc Capital Markets, marking a significant milestone for the U.S. energy storage sector. This financing will accelerate Lightshift’s expanding portfolio of battery energy storage system (BESS) projects across the U.S. East Coast, strengthening confidence in battery storage solutions as essential tools for grid reliability and the clean energy transition.
Lightshift Energy, a leading developer, owner, and operator of utility-scale energy storage projects headquartered in Arlington, Virginia, plans to use the credit facility to back six operational BESS projects and advance ten more that are either in or nearing construction. The company’s portfolio includes installations in Massachusetts, Vermont, and Virginia, with many of the new projects expected to enter commercial operation in the latter half of 2026. Among them is a notable project with GlobalFoundries in Vermont, set to become the largest battery project in the state upon completion. This project aims to deliver critical power services while helping to reduce transmission and capacity costs at the semiconductor manufacturing plant.
Enertis Applus+, part of the global testing, inspection, and certification leader Applus+, provided independent technical and financial due diligence, a service critical in strengthening investor confidence. Their comprehensive review encompassed key project components such as energy storage system supply agreements, long-term services agreements, EPC contracts, interconnection agreements, project design, financial modelling, and useful life plans. These evaluations ensured the bankability, reliability, and long-term operational viability of Lightshift’s portfolio.
Iñaki Herrero, Managing Director for North America at Enertis Applus+, commented on the collaboration, saying, “We’re proud to support Lightshift by bringing independent technical and financial expertise to their growing portfolio. As energy storage becomes central to building a resilient and flexible grid, our mission is to help investors and developers make smart, data-driven decisions that reduce risk and maximize value.”
Rory Jones, Co-Founder and Managing Partner at Lightshift Energy, described the transaction as a “major milestone for the industry,” highlighting that the financing covers a fleet of battery projects spanning diverse regions and offtakers, all aimed at delivering firm grid capacity quickly and effectively.
The credit facility arranged by KeyBanc Capital Markets includes a mix of a term loan, construction-to-term loan, and tax equity bridge loan, designed to support both operational projects and those in construction phases. Stoel Rives acted as legal advisor to Lightshift in closing the deal, underscoring the financial and legal robustness behind the transaction.
Lightshift is building a diverse multi-gigawatt pipeline across the U.S., leveraging advanced analytics, sophisticated design capabilities, and community-focused development strategies. This credit facility will help Lightshift accelerate this pipeline, facilitating the rapid deployment of energy storage infrastructure critical for grid stability and the integration of renewable energy sources.
Enertis Applus+ brings more than 25 years of experience with over 750 GW in renewable energy consulting and 100 GWh in energy storage expertise spanning 6,000 projects worldwide. Their role as Independent Engineer reflects the growing importance of rigorous technical and financial assessments in securing financing for large-scale energy storage projects, enhancing the bankability and longevity of these assets.
This transaction not only boosts Lightshift Energy’s capacity to deliver large-scale storage solutions but also signals increasing financial institution confidence in battery storage as a lynchpin for the future energy landscape. As utilities and industries seek more flexible, clean, and resilient energy systems, financing mechanisms backed by expert due diligence play a crucial role in turning ambitious plans into operational realities.
- https://energystoragepro.com/2025/11/19/enertis-applus-powers-lightshifts-75-million-energy-storage-financing-with-independent-engineering-expertise/ – Please view link – unable to able to access data
- https://www.key.com/businesses-institutions/our-transactions/deals/lightshift-energy.html – KeyBanc Capital Markets closed a $75 million Senior Secured Credit Facility for Lightshift Energy’s battery energy storage systems (BESS) portfolio, comprising six operating and ten construction-ready projects. This financing strengthens Lightshift’s rapidly growing pipeline of energy storage projects across the East Coast, including installations in Massachusetts, Vermont, and Virginia, with expected commercial operation in the latter half of 2026.
- https://www.publicpower.org/periodical/article/lightshift-energy-keybanc-capital-markets-announce-75-million-project-finance-facility-support – Lightshift Energy and KeyBanc Capital Markets announced a $75 million credit facility to support Lightshift’s expanding fleet of battery projects. The financing includes a term loan, construction-to-term loan, and tax equity bridge loan, enabling the advancement of six operational projects and ten in construction. Notably, a project with GlobalFoundries in Vermont aims to deliver critical power services and reduce transmission and capacity costs at their semiconductor manufacturing plant, becoming the largest battery project in Vermont upon completion in 2026.
- https://www.enertisapplus.com/ – Enertis Applus+ is a global consulting, engineering, and quality control firm with extensive expertise in renewable energy and storage sectors. They provide independent technical and financial due diligence services to developers, owners, financial entities, equity investors, and contractors, ensuring the bankability, reliability, and long-term operational viability of energy projects worldwide.
- https://www.europapress.es/economia/noticia-enertis-applus-asesora-lightsift-energy-financiacion-65-millones-proyectos-almacenamiento-20251119111804.html – Enertis Applus+ acted as an independent technical advisor for Lightshift Energy in obtaining a $75 million credit line from KeyBanc Capital Markets. This financing supports the growth of Lightshift’s battery energy storage system (BESS) projects on the U.S. East Coast, enabling the advancement of six operational projects and ten in construction, marking a significant milestone in the energy storage sector.
- https://www.businesswire.com/news/home/20251015252218/en/Lightshift-Energy-and-KeyBanc-Capital-Markets-Announce-a-%2475-Million-Project-Finance-Facility-to-Support-Expanding-Fleet-of-Battery-Projects – Lightshift Energy and KeyBanc Capital Markets announced the closure of a $75 million credit facility to support Lightshift’s rapidly growing pipeline of energy storage projects across the East Coast. The financing includes a term loan, construction-to-term loan, and tax equity bridge loan, enabling the advancement of six operational projects and ten in construction, including a project with GlobalFoundries in Vermont, which will become the largest battery project in the state upon completion in 2026.
- https://www.stoel.com/capabilities/spotlights/lightshift-energy-and-keybanc-capital-markets-close-75-million-credit-facility-to-finance-growing-fleet-of-battery-projects – Stoel Rives acted as legal advisor to Lightshift Energy in closing a $75 million credit facility with KeyBanc Capital Markets. The facility, comprising a term loan, construction-to-term loan, and tax equity bridge loan, will finance six Lightshift projects that are currently in operation and allow ten projects in or nearing construction to proceed, supporting the company’s expanding portfolio of energy storage projects across the East Coast.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative is fresh, with no prior publications found. The earliest known publication date is November 19, 2025. The report is based on a press release, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were identified. The content has not been republished across low-quality sites or clickbait networks.
Quotes check
Score:
10
Notes:
The quotes from Iñaki Herrero and Rory Jones are unique to this report, with no identical matches found in earlier material. No variations in wording were identified. This suggests potentially original or exclusive content.
Source reliability
Score:
6
Notes:
The narrative originates from EnergyStorage Pro, a niche publication focusing on energy storage. While it provides detailed information, its limited reach and lack of broader recognition may affect its reliability. The report cites a press release from Enertis Applus+, which adds credibility but also indicates potential bias.
Plausability check
Score:
9
Notes:
The claims about the $75 million credit facility and the involvement of Enertis Applus+ and Lightshift Energy are plausible and align with industry practices. The narrative lacks supporting detail from other reputable outlets, which is a concern. The language and tone are consistent with the region and topic. No excessive or off-topic details were noted. The tone is formal and appropriate for corporate communication.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative presents fresh and original content, with no significant discrepancies or signs of disinformation. However, the reliance on a single, niche source and the lack of corroboration from other reputable outlets raise concerns about its overall reliability. Further verification from additional sources is recommended to confirm the accuracy of the claims.