Linea Energy ("Linea"), a renewables-focused developer and independent power producer that is sponsored by EnCap Investments L.P. ("EnCap"), is pleased to announce closing of project debt financing for its Pineview Solar project ("Pineview") this past December. Pineview is a 109MWdc utility-scale solar energy facility located in Wilcox County, Georgia.
The Pineview debt financing comprises a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. The financing is provided by a syndicate of lenders led by First Citizens Bank ("First Citizens") and Norddeutsche Landesbank Girozentrale ("NORD/LB").
"We are proud to announce the debt financing of Pineview," said Cassidy DeLine, Chief Executive Officer of Linea Energy. "The financing is a critical step in the advancement of the Pineview project. The capital provided by First Citizens and NORD/LB will enable us to supply clean, reliable solar power to Georgia while contributing to the local economy."
Mike Lorusso, Managing Director and Group Head for First Citizens' Energy Finance Group, added, "First Citizens is excited to support Pineview and continue our partnership with Linea. Pineview will advance Georgia's clean energy goals by delivering renewable energy to communities throughout the state."
"We are pleased to partner with Linea in the Pineview financing," said Sondra Martinez, Managing Director of NORD/LB. "This project will supply long-term, sustainable energy to Georgia, serving an important role in the state's energy transition. We look forward to continued collaboration with Linea as the Pineview project advances through construction and operations."
Winston & Strawn served as legal counsel to the lenders. Skadden, Arps, Slate, Meagher & Flom LLP served as borrower counsel to Linea Energy.
