The Watertown funding bundle consists of a construction-to-term loan, a tax equity swing loan, and a letter of credit center. The funding is led by Santander Corporate & & Financial Investment Banking, (” Santander”), with involvement from Société Générale, S.A. (” SocGen”), Norddeutsche Landesbank Girozentrale (” NORD/LB”) and Truist Bank (” Truist”).
Linea has actually likewise carried out a 25-year power purchase contract (” PPA”) with Customers Energy, a public entity operating under the jurisdiction of the Michigan Civil Service Commission (” MPSC”).
” We are enjoyed reveal the effective funding of Watertown,” stated Cassidy DeLine, Ceo of Linea Energy. “With the assistance of our funding partners and our long-lasting contract with Customers Energy, Watertown will bring significant financial advantages to Sanilac County while supporting the state’s long-lasting shift to a resistant, low-carbon grid.”
This funding marks Linea’s 3rd renewable resource job to reach monetary close.
Winston & & Strawn functioned as legal counsel to the loan providers. Orrick, Herrington & & Sutcliffe functioned as customer counsel to Linea Energy.
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