News & Events
Marathon Capital Advises Osaka Gas on Sale of ERCOT Solar Project to Lydian Energy
December 10, 2024
December 10, 2024
Utility Scale Clean Power
Mergers and Acquisitions
Marathon Capital has advised Osaka Gas USA Corporation (“OGUSA”) on the sale of Violet Solar to Lydian Energy, an independent power producer backed by Excelsior Energy Capital. Violet Solar is a ~210 MWDC advanced-stage solar asset located in Hood, Somervell, and Johnson Counties in Texas. Marathon Capital acted as the exclusive financial advisor to OGUSA to provide valuation, structuring, due diligence, and negotiation support throughout the targeted sale process.
The sale of Violet Solar is a testament to OGUSA and its demonstrated capabilities to optimize and advance the development work necessary to monetize assets across a highly competitive market.
Lydian Energy, launched in October 2023, focuses on the development, construction, and operation of large-scale solar and battery energy storage projects throughout North America. With a portfolio of 2.4 GW in solar and battery storage capacity, this project presented an ideal opportunity for Lydian Energy to add to its portfolio and reaffirm its commitment as a leading player across the renewable energy market landscape.
