- Linea Energy secured financing for its 109-MWp Pineview solar project in Georgia, led by First Citizens Bank and NORD/LB.
- The project began construction in October 2024 and is expected to become operational by December 2025.
- EnCap Investments, through its Energy Transition Fund II, backs Linea Energy’s growth in the renewable energy sector.
Linea Energy, a US renewable energy developer, secured financing for its 109-MWp Pineview solar project in Georgia: the firm, a portfolio company of EnCap Investments LP, announced on Wednesday, January 8.
A group of lenders, led by First Citizens Bank and Norddeutsche Landesbank Girozentrale (NORD/LB), provided the financing. The package includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. Linea Energy did not disclose the financial details.
Linea Energy began constructing the Pineview project in Wilcox County in October 2024. The company expects the solar facility to become operational by December 2025.
Founded in 2022, Linea Energy focuses on wind, solar, and energy storage projects. From its headquarters in San Francisco, California, the company operates as a developer and independent power producer (IPP).
In September 2024, Linea secured a USD 145 million (EUR 140.9m) loan to support its 4-GW project pipeline. This funding is key to Linea’s growth plans for renewable energy projects.
EnCap Investments, through its EnCap Energy Transition Fund II (EETF II), invested in Linea to help accelerate its renewable energy initiatives. EnCap specialises in financing companies that are driving the transition to clean energy across the US.
Pineview represents one of several projects under development by Linea. The company continues to pursue large-scale renewable projects to meet the rising demand for clean energy.
By advancing the Pineview project, Linea aims to strengthen its presence in Georgia’s renewable energy market and support state and national clean energy goals.
(USD 1 = EUR 0.972)