Gridi Development Closes Interconnection Financing Facility with Rosemawr

Transaction Supports Gridi's Growing New York State Standalone BESS Pipeline

NEW YORK, June 9, 2026 /PRNewswire/ -- Gridi LLC ("Gridi"), a New York State battery energy storage development company and an affiliate of Delaware River Solar ("DRS"), today announced the closing of an interconnection financing facility with an affiliate of Rosemawr Management LLC ("Rosemawr"). Catalina Energy Capital, Inc. ("Catalina"), a boutique renewable energy investment bank and advisory firm, served as sole financial advisor to Gridi in connection with the transaction. The facility closed on May 4, 2026.

Proceeds from the facility will be used to fund interconnection deposits for Gridi's portfolio of standalone BESS projects. Gridi has already established itself as a key player in the industry, with 60+ projects in active development totaling 300+ MW of capacity across New York State. The Company's pipeline benefits from favorable state policies, including NYSERDA Incentives, 25-year VDER compensation, and the Statewide Solar for All program. Gridi leverages an in-house development team and the expertise of its affiliate, DRS, to bring projects through the development cycle. DRS has developed and constructed 100+ community solar farms totaling 400+ MW since 2016.

"Securing this facility is a critical milestone for Gridi as we advance our interconnection queue positions and move projects toward NTP," said Dan Green, President of Gridi.

"This investment represents well our mission to provide flexible capital in the energy infrastructure sector, including by helping developers finance interconnection deposits," said Rich Weihe, Managing Director at Rosemawr.

"Gridi has built a high-quality, capital-efficient BESS development platform in a market with strong structural tailwinds," said Dan Rittenhouse, CEO of Catalina Energy Capital. "These projects will spark years of economic vitality throughout upstate New York, driving down emissions and lowering energy costs for decades to come."

About Gridi LLC - Gridi is a New York State standalone BESS development company and an affiliate of Delaware River Solar. Gridi is developing 60+ projects and 300+ MW across the National Grid, NYSEG, and ORU service territories.

About Rosemawr Management LLC - Rosemawr is an investment management firm focused on the municipal, sustainable infrastructure, and charter school sectors. Founded in 2008, the firm's sustainable infrastructure portfolio includes investments in solar, energy storage, and energy efficiency assets located across the country. 

About Catalina Energy Capital, Inc. - Catalina is a boutique investment bank focused on the renewable energy sector. The firm provides capital raise and transaction advisory and structuring services across solar, BESS, and other clean energy infrastructure.

For more information, contact [email protected] or [email protected].

This press release does not constitute an offer to buy securities.

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SOURCE Catalina Energy Capital; Gridi Development