ATLANTA, GA — Overlay Capital, a leading provider of interconnection capital for grid connected assets and projects, today announced their lending facility with Grid Connected Infrastructure. Overlay's investment of $10MM in interconnection deposits will support GCI's development of their NYISO and ERCOT assets over the coming years.
"GCI has a strong track record of bringing high-quality renewable projects to market, and we are pleased to support their continued growth and expansion within ERCOT and NYISO," said Overlay Managing Partner, Eric Rubinstein. "The growing complexity, cost, and timelines associated with interconnection queues across the U.S. markets has made this portion of development more challenging. We aim to solve these issues in non-dilutive structures that enable developers to move high-quality projects through the queue more efficiently."
"We appreciate Overlay's partnership and responsiveness in completing this facility," said Mitch Bauer, Founder and President of GCI. "Flexible interconnection funding has become a critical tool for advancing energy storage projects in a post Ferc-2023 environment. GCI will utilize this facility to support interconnect obligations for a portfolio of projects which we intend to bring to the market in 2026, including standalone energy storage sited in MISO, SPP, ERCOT and NYISO. Overlay's speed, efficiency and understanding of the development process made them an exceptional partner in this effort."
As grid access becomes more competitive and interconnection costs surge, access to efficient capital has become critical. Overlay's non-dilutive structure empowers GCI to deploy quickly, retain equity, and continue scaling a high-quality portfolio. In a market where speed and liquidity often dictate success, this type of targeted financing helps developers stay ahead of shifting timelines and capture valuable positions in the queue.
About Overlay Capital
Overlay Capital is an Atlanta-based asset manager investing across the spectrum from innovation to infrastructure, with a focus on financing overlooked and hard-to-access opportunities. Overlay invests in secular tailwinds and opportunities that shape the future of essential infrastructure in the built environment, with a commitment to superior risk-adjusted returns. For more information, please visit us at www.overlaycapital.com.
About Grid Connected Infrastructure
Grid Connected Infrastructure (GCI) is a developer of standalone utility-scale battery storage projects with a focus on high-value grid locations, secure land control and well-defined interconnection pathways. GCI is currently advancing storage assets across multiple U.S. power markets, emphasizing technical rigor, commercial viability and strong alignment with long-term grid needs. For more information, please visit www.gci.energy.