Foley Represents KeyBank as Sole Lender in $75M Lightshift Energy Project Finance Facility

Foley & Lardner LLP served as legal advisor to KeyBanc Capital Markets (KBCM), the corporate and investment banking arm of Cleveland based KeyCorp (NYSE:KEY) for the $75 million credit facility to support Lightshift Energy’s expanding fleet of battery projects.

Lightshift Energy is a developer, owner, and operator of battery energy storage projects across the United States. The flexible facility, which includes a term loan, construction-to-term loan, and tax equity bridge loan, strengthens Lightshift’s ability to bring new projects online quickly and at scale. KeyBank’s financing supports six of Lightshift’s operational projects while also enabling the advancement of 10 projects currently in and nearing construction.

KeyBanc Capital Markets offers corporate and investment banking solutions, debt and equity capital markets, and M&A services with expertise across various industry verticals, including the renewables, power, and utitilies industry vertical.

The Foley energy finance team was led by partner Darin Lowder and senior counsel Sunita Paknikar with support from partners Melanie Clark and Sarah Slack, of counsel Scott Johnson and associates Christopher Duda, Sadie Olson, Arantza Ceballos Rojas, Katie Plachta, and Cameron Saneii.