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'equit脿 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 sosterr脿 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 comunit脿 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 instalaci贸n de energ铆a solar a escala utilitaria de 109 MWdc en el condado de Wilcox, Georgia. El paquete de financiamiento incluye un pr茅stamo de construcci贸n a t茅rmino, un pr茅stamo puente de capital fiscal y una l铆nea de cr茅dito, proporcionados por un sindicato de prestamistas liderado por First Citizens Bank y Norddeutsche Landesbank Girozentrale (NORD/LB).
El financiamiento apoyar谩 el desarrollo de energ铆a solar limpia y confiable en Georgia, al tiempo que contribuir谩 a la econom铆a local. El proyecto tiene como objetivo avanzar en los objetivos de energ铆a limpia de Georgia al proporcionar energ铆a 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.
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Linea Energy a obtenu un financement par emprunt pour son projet Pineview Solar, une installation solaire de 109 MWdc dans le comt茅 de Wilcox, en G茅orgie. Le package de financement comprend un pr锚t de construction 脿 terme, un pr锚t relais d'茅quit茅 fiscale et une ligne de cr茅dit, fournis par un syndicat de pr锚teurs dirig茅 par First Citizens Bank et Norddeutsche Landesbank Girozentrale (NORD/LB).
Ce financement soutiendra le d茅veloppement d'une 茅nergie solaire propre et fiable en G茅orgie, tout en contribuant 脿 l'茅conomie locale. Le projet vise 脿 faire avancer les objectifs d'茅nergie propre de la G茅orgie en fournissant de l'茅nergie renouvelable aux communaut茅s de l'脡tat. Winston & Strawn et Skadden, Arps, Slate, Meagher & Flom LLP ont servi de conseils juridiques aux pr锚teurs et 脿 l'emprunteur, respectivement.
Linea Energy hat eine Projektfinanzierung f眉r ihr Pineview Solar-Projekt, eine 109MWdc gro脽e 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, zuverl盲ssiger Solarenergie in Georgia unterst眉tzen und gleichzeitig zur lokalen Wirtschaft beitragen. Das Projekt zielt darauf ab, Georgias Ziele f眉r erneuerbare Energien zu f枚rdern, indem es der Bev枚lkerung im ganzen Bundesstaat erneuerbare Energie zur Verf眉gung 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聽Linea Energy
Linea Energy is a leading independent power producer focused on the development, ownership, and operation of clean energy infrastructure. Headquartered in
About聽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
础产辞耻迟听狈翱搁顿/尝叠
Norddeutsche Landesbank Girozentrale聽is a leading commercial bank based in
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