The Watertown project, backed by EnCap Investments, recently cleared a $299 million debt financing round led by Santander Corporate & Investment Banking. With the addition of the single-investor tax equity commitment from Crux, the venture is now moving into active construction. The site is anchored by a 25-year power purchase agreement with Consumers Energy, ensuring long-term revenue stability for the developer.
Linea Energy Secures $457 Million for Michigan Solar Project
Linea Energy has finalized tax equity financing with Crux for the 172-megawatt Watertown solar facility in Sanilac County, Michigan. This investment brings the total capital raised for the utility-scale project to $457 million, marking the final stage of commercialization before the site becomes fully operational in 2027.
Once completed, the facility will feed into the Midcontinent Independent System Operator grid, generating enough electricity to power roughly 25,126 homes. Beyond energy output, the project is expected to provide $16.4 million in local property tax revenue to Sanilac County over its lifespan. The development also promises to offset approximately 148,389 metric tons of carbon emissions annually. Legal counsel for the transaction was provided by Orrick, Herrington & Sutcliffe for the borrower and Sidley Austin for the investor.
,regionOfInterest=(1235,656)&hash=4756a5948aa5a3dd50a303b8254fc8021ea1b8e066df5f3cd20e8c0635b93da2)
Comments (0)
No comments yet. Be the first!