Linea Power, an impartial renewable vitality developer and energy producer, has secured a big capital dedication from EnCap Investments LP, a supplier of progress capital to the impartial sector of the US vitality trade. EnCap’s Power Transition Fund, the renewable vitality funding arm of EnCap, is at the moment making new commitments to administration groups from EnCap Power Transition Fund II.
Linea is a newly shaped impartial energy producer that’s modernizing how clear vitality is developed and financed to quickly enhance the velocity of deployment. Linea’s partnership with EnCap positions the corporate to execute its progress technique to speed up the decarbonization of the US electrical energy grid by growing, proudly owning, and working vitality storage initiatives corresponding to wind, photo voltaic, and utility-rated battery. Linea will construct its portfolio by means of greenfield growth and strategic mission acquisitions with an preliminary deal with the MISO (Midcontinent Impartial System Operator), PJM (Pennsylvania-New Jersey-Maryland Interconnection) and ERCOT (Electrical Reliability Council) markets. of Texas).
“We’re happy to accomplice with the EnCap Power Transition staff to develop and function a world class portfolio of renewable vitality and battery vitality storage initiatives,” stated Cassidy DeLine, CEO of Linea. “With EnCap as our accomplice, we now have the capital and strategic positioning to develop and handle a various renewable know-how portfolio in key energy markets throughout the US”
“We’re targeted on how we will speed up the clear vitality transition by means of steady environment friendly growth and innovation,” DeLine added. “We’re excited to start instantly contributing to the transition to a decrease carbon clear vitality system that may meet the wants of electrical energy customers throughout the nation.”
“The partnership with Linea Power is a robust match inside EnCap’s technique to create and develop platforms that decarbonize the US electrical energy grid and reply to the altering US electrical energy market, ” says Kellie Metcalf, EnCap’s vitality transition administration accomplice. “Linea’s administration staff members reveal particular person monitor data and complementary talent units. We’re delighted to be working with the Linea staff and are assured that they’ll construct a world-class renewable vitality platform.
Linea brings collectively Cassidy DeLine (Cypress Creek), Benoit Vallieres (Brookfield, BP, DTE Power) and Jonathan Vesdekas (Orsted, Invenergy). The corporate has added extra renewable vitality professionals since its formation and can proceed to develop the staff all through 2023.
