Watertown Solar — 172 MWdc utility-scale solar, Sanilac County, Michigan

Linea Energy closes project debt financing (construction-to-term loan, tax equity bridge, LC facility) for 172 MWdc Watertown Solar in Sanilac County, Michigan. Lead arranger: Santander CIB; joint arrangers: Société Générale, NORD/LB, Truist Bank. 25-year PPA with Consumers Energy. COD expected April 2027. Expected to generate ~213,000 MWh annually, powering ~25,126 Michigan homes. $16.4M in local property tax revenue over 20 years. Linea Energy is EnCap Investments-backed. Legal: Orrick (Linea), Milbank (lenders).

Deal Details

Deal Type

Project Finance

Seller / Sponsor

Linea Energy (sponsored by EnCap Investments L.P.)

Buyer / Financier

Santander Corporate & Investment Banking (lead arranger), Société Générale, NORD/LB, Truist Bank (joint lead arrangers)

Offtaker

Consumers Energy (25-year PPA)

Stage

Under Construction

ISO/RTO

MISO

Source

PR Newswire / Linea Energy