Renewable energy developer and independent power producer Linea Energy has closed project debt financing and a preferred equity commitment for the Mesa View battery energy storage system (BESS), a 250 MW/500 MWh standalone facility in Upton County, Texas.
The debt financing package includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. Norddeutsche Landesbank Girozentrale (NORD/LB) acted as coordinating lead arranger for the transaction, with Texas Capital participating as a syndicate lender. D.E. Shaw Renewable Investments (DESRI) provided the preferred equity commitment for the project.
The Mesa View BESS is scheduled to reach commercial operation in 2027. Once operational, the facility will deliver 250 MW of dispatchable capacity into the Electric Reliability Council of Texas (ERCOT) grid, where rapid growth in intermittent solar and wind capacity has accelerated demand for multi-hour storage infrastructure.
The financing marks the latest capital raise for Linea Energy, which is sponsored by growth capital provider EnCap Investments L.P. through its EnCap Energy Transition platform. The transaction builds on previous project-level financing rounds completed by Linea, including preferred equity commitments from DESRI for the developer’s Duffy BESS asset.
According to Linea Energy chief executive officer Cassidy DeLine, securing the financing structure demonstrates the continued maturation of the company’s platform and its ability to deliver investable energy infrastructure assets into high-demand regional power markets.
Orrick, Herrington & Sutcliffe LLP served as sponsor counsel to Linea Energy for the transaction. Winston & Strawn LLP represented the lender group, while Foley & Lardner LLP provided legal counsel to DESRI.
Headquartered in San Francisco, Linea Energy focuses on the development, ownership, and operation of utility-scale solar, wind, and battery storage projects across North American power markets. The Mesa View deal follows recent project financing milestones for the company, including tax equity and debt financing rounds for utility-scale solar assets in Michigan.
From pv magazine USA
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