Linea Energy Closes Project Debt Financing for Pineview Solar in Georgia
Linea Energy has secured project debt financing for its Pineview Solar project, a 109MWdc utility-scale solar energy facility in Wilcox County, Georgia. The financing package includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility, provided by a syndicate of lenders led by First Citizens Bank and Norddeutsche Landesbank Girozentrale (NORD/LB).
The financing will support the development of clean, reliable solar power in Georgia while contributing to the local economy. The project aims to advance Georgia's clean energy goals by delivering renewable energy to communities throughout the state. Winston & Strawn and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to the lenders and borrower, respectively.
Linea Energy ha ottenuto finanziamenti per il debito di progetto per il suo progetto Pineview Solar, un impianto solare di energia da 109 MWdc in Wilcox County, Georgia. Il pacchetto di finanziamento include un prestito per la costruzione a lungo termine, un prestito bridge per l'equità fiscale e una linea di credito, forniti da un sindacato di finanziatori guidato da First Citizens Bank e Norddeutsche Landesbank Girozentrale (NORD/LB).
Il finanziamento sosterrà lo sviluppo di energia solare pulita e affidabile in Georgia, contribuendo allo stesso tempo all'economia locale. Il progetto mira a promuovere gli obiettivi di energia pulita della Georgia, fornendo energia rinnovabile alle comunità di tutto lo stato. Winston & Strawn e Skadden, Arps, Slate, Meagher & Flom LLP hanno svolto il ruolo di consulenti legali per i finanziatori e per il mutuatario, rispettivamente.
Linea Energy ha asegurado financiamiento por deuda del proyecto para su proyecto Pineview Solar, una instalación de energía solar a escala utilitaria de 109 MWdc en el condado de Wilcox, Georgia. El paquete de financiamiento incluye un préstamo de construcción a término, un préstamo puente de capital fiscal y una línea de crédito, proporcionados por un sindicato de prestamistas liderado por First Citizens Bank y Norddeutsche Landesbank Girozentrale (NORD/LB).
El financiamiento apoyará el desarrollo de energía solar limpia y confiable en Georgia, al tiempo que contribuirá a la economía local. El proyecto tiene como objetivo avanzar en los objetivos de energía limpia de Georgia al proporcionar energía renovable a las comunidades de todo el estado. Winston & Strawn y Skadden, Arps, Slate, Meagher & Flom LLP actuaron como asesores legales para los prestamistas y el prestatario, respectivamente.
리니아 에너지는 조지아주 윌콕스 카운티에 위치한 109MWdc 규모의 유틸리티 급 태양광 프로젝트 파인뷰 솔라를 위한 프로젝트 부채 금융을 확보했습니다. 금융 패키지에는 건설에서 상환으로 전환되는 대출, 세금 자본 브리지 대출, 그리고 퍼스트 시티즌 뱅크와 노르드도이체 랜드스방크 기로젠트랄(NORD/LB)가 이끄는 대출자 신디케이트가 제공하는 신용장 시설이 포함됩니다.
이번 금융은 조지아에서 청정하고 신뢰할 수 있는 태양광 발전의 전문성을 지원하면서 지역 경제에도 기여할 것입니다. 이 프로젝트는 주 전역의 커뮤니티에 재생 가능한 에너지를 제공함으로써 조지아의 청정 에너지 목표를 추진하는 것을 목표로 하고 있습니다. 윈스턴 & 스트로운과 스카든, 아프스, 슬레이트, 미어거 & 플롬 LLP는 각각 대출자와 차용인의 법률 자문 역할을 맡았습니다.
Linea Energy a obtenu un financement par emprunt pour son projet Pineview Solar, une installation solaire de 109 MWdc dans le comté de Wilcox, en Géorgie. Le package de financement comprend un prêt de construction à terme, un prêt relais d'équité fiscale et une ligne de crédit, fournis par un syndicat de prêteurs dirigé par First Citizens Bank et Norddeutsche Landesbank Girozentrale (NORD/LB).
Ce financement soutiendra le développement d'une énergie solaire propre et fiable en Géorgie, tout en contribuant à l'économie locale. Le projet vise à faire avancer les objectifs d'énergie propre de la Géorgie en fournissant de l'énergie renouvelable aux communautés de l'État. Winston & Strawn et Skadden, Arps, Slate, Meagher & Flom LLP ont servi de conseils juridiques aux prêteurs et à l'emprunteur, respectivement.
Linea Energy hat eine Projektfinanzierung für ihr Pineview Solar-Projekt, eine 109MWdc große Solaranlage im Wilcox County, Georgia, gesichert. Das Finanzierungspaket umfasst ein Bau-zu-Langzeit-Darlehen, ein steuerliches Eigenkapital-Bridgedarlehen und eine Kreditlinie, bereitgestellt von einem Syndikat von Kreditgebern, das von First Citizens Bank und Norddeutsche Landesbank Girozentrale (NORD/LB) geleitet wird.
Die Finanzierung wird die Entwicklung sauberer, zuverlässiger Solarenergie in Georgia unterstützen und gleichzeitig zur lokalen Wirtschaft beitragen. Das Projekt zielt darauf ab, Georgias Ziele für erneuerbare Energien zu fördern, indem es der Bevölkerung im ganzen Bundesstaat erneuerbare Energie zur Verfügung stellt. Winston & Strawn und Skadden, Arps, Slate, Meagher & Flom LLP fungierten jeweils als rechtliche Berater der Kreditgeber und des Kreditnehmers.
- Secured comprehensive debt financing package for 109MWdc solar facility
- Project backed by major financial institutions (First Citizens Bank and NORD/LB)
- Long-term power supply agreement in Georgia market
- None.
Insights
The 109MWdc Pineview Solar project financing marks a strategic expansion of First Citizens Bank's renewable energy portfolio. The multi-faceted financing structure, combining construction-to-term loan, tax equity bridge loan and letter of credit facility, represents a comprehensive funding approach typical for utility-scale solar projects. For context, a 109MWdc solar facility can power approximately 20,000 homes, making this a significant addition to Georgia's renewable energy capacity.
The involvement of NORD/LB, a prominent European bank with extensive renewable energy financing experience, adds credibility to the project's viability. This dual-bank syndication indicates strong institutional confidence in both the project fundamentals and Linea Energy's execution capabilities. The backing of EnCap Investments, a well-established private equity firm, provides additional financial strength and industry expertise.
For First Citizens Bank (FCNCA), this deal strengthens its position in the renewable energy financing sector, diversifying its loan portfolio while supporting ESG initiatives. The project's structured financing approach helps mitigate risks through construction and operational phases, protecting the bank's interests while supporting renewable energy development.
The Pineview Solar project in Wilcox County strategically positions Georgia for renewable energy growth. The facility's location was likely chosen for its solar irradiance levels, transmission infrastructure access and land availability. The project will contribute to Georgia's power grid stability and help meet increasing corporate and utility demand for renewable energy.
From an infrastructure perspective, the construction-to-term loan structure indicates a well-planned development timeline with clear milestones. The tax equity bridge loan suggests optimal utilization of federal solar investment tax credits, enhancing project economics. The involvement of Winston & Strawn and Skadden Arps, top-tier law firms in energy project finance, indicates robust legal structuring and risk mitigation.
The
"We are proud to announce the debt financing of
Mike Lorusso, Managing Director and Group Head for First Citizens' Energy Finance Group, added, "First Citizens is excited to support
"We are pleased to partner with Linea in the
Winston & Strawn served as legal counsel to the lenders. Skadden, Arps, Slate, Meagher & Flom LLP served as borrower counsel to Linea Energy.
About Linea Energy
Linea Energy is a leading independent power producer focused on the development, ownership, and operation of clean energy infrastructure. Headquartered in
About EnCap Investments
Since 1988, EnCap Investments has been a leading provider of growth capital to the independent sector of the
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in
About NORD/LB
Norddeutsche Landesbank Girozentrale is a leading commercial bank based in
Media Contact:
info@lineaenergy.com
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SOURCE Linea Energy
FAQ
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