Linea Energy Secures $457 Million for Michigan Solar Project

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.

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.