April 21, 2026
Independent energy producer Lydian energy has announced the acquisition of the solar and BESS portfolio of Irvine, California-based Atlas North Hanwha renewable energy sources.
With a share of approximately 1.5 GW between solar and battery energy, the portfolio is one of the largest solar and storage portfolios in North America. The portfolio itself consists of four late-stage projects, including a 500 kV transmission line with a length of up to three kilometers.
“Atlas North represents Lydian’s largest investment to date. We are excited to build on our momentum as a company and bring this ambitious project to life,” said Emre Ersenkal, CEO of Lydian. “The facilities at Atlas North will bring much-needed renewable energy to the region.”
The transmission line will connect solar and BESS facilities throughout the California region CAISO gridvia the Cielo Azul Switchyard and the Ten West Link transmission line.
Strengthening the Lydian line
Lydian’s entire portfolio now includes 18 different solar and storage projects, with a total of 4.4 GW of renewable energy capacity. The entirety of Atlas Noord has a total of 1 GW of solar generation capacity, plus a maximum of 450 MW or 1.8 GWh of battery storage.
Lydian was backed by the Greenwood, Minnesota-based private equity firm for this acquisition Excelsior Energy Capital. The Minnesota company is a leader in independent North American energy investments, officials say, and has two active funds totaling more than $1.5 billion in equity.
“We remain strongly committed to the continued development of clean energy in the U.S., especially solar and battery storage, which are proven and reliable sources,” said Chris Moakley, co-founder and managing partner at Excelsior Energy Capital and chairman of the board of directors of Lydian Energy.
Lydian representatives added that the “vast majority” of electricity generation and capacity from the Atlas North portfolio is currently contracted to long-term offtake agreements with entities throughout California.
Tags: Hanwha, Lydian Energy, M&A, projects, utility scale
