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 Value
172MW
Capacity
Solar
Technology
MI
Location
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
- Construction
- ISO/RTO
- MISO
Service Providers
Advisory & Legal
- developerCounsel
- Orrick
- Lender Counsel
- Milbank
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