Linea Energy obtains loan to support 4-GW renewables pipeline

US renewable energy firm Linea Energy, a portfolio company of private equity investor EnCap Investments LP, has achieved a final closing for a USD-145-million (EUR 131.2m) loan to advance and grow its 4-GW project pipeline.

The corporate revolving credit facility, providing access to both cash borrowings and letter of credit capacity, was arranged by First Citizens Bank, Santander Bank, Macquarie Group Ltd and ICBC Standard Bank Plc, a press statement said on Tuesday.

The funds will be used to support the company's pipeline of renewable energy projects, which span a range of technologies and geographical locations.

San Francisco, California-based Linea is a renewables developer and independent power producer (IPP). The company, which was founded in 2022, specialises in wind, solar and energy storage.

EnCap bet on the business through its EnCap Energy Transition Fund II (EETF II).

(USD 1 = EUR 0.905)

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