Linea Energy secures financing for 172 MWdc Watertown solar project in Michigan

Linea Energy, a portfolio company of EnCap Investments, has closed project financing for its 172 MWdc Watertown solar project located in Sanilac County, Michigan. The financing package includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. Santander Corporate & Investment Banking led the financing, with participation from Société Générale, NORD/LB, and Truist. This transaction marks Linea's third renewable energy project to reach financial close, underscoring the strength of its platform and its commitment to delivering long-term value for Michigan communities and the broader renewable energy sector.

Counterparts (6)

Lender

Santander Corporate & Investment Banking

company

Santander Corporate & Investment Banking (CIB), the wholesale banking division of Banco Santander, is a top-tier global project finance lender and advisor, consistently ranking among the top 5 lead arrangers for infrastructure and energy deals across Europe, Latin America, and North America. It provides multi-billion dollar financing and advisory services to corporate and institutional clients.

T

Truist

company

NORD/LB

company · 1 deals

NORD/LB is a German Landesbank that provides a range of financial services to corporate customers, savings banks, and private investors. They are involved in structured finance, syndications, investment solutions, and financial markets.

Société Générale

company · 2 deals

Société Générale has acted as a lender in two verified deals, totaling £500 million and $1.5 billion, respectively. These financings support renewable energy projects, specifically one solar project in the UK and one energy storage project in the USA. This indicates a focus on providing debt financing for solar and energy storage projects across international markets.

borrower

Linea Energy

company

Linea Energy is an energy company focused on providing innovative solutions for the energy industry. They are involved in various aspects of the energy sector, including renewable energy and traditional energy sources.

parent_company

E

EnCap Investments

company