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San Francisco, CA – December 2025
Linea Energy (“Linea”), a renewables developer and independent power producer that is sponsored by EnCap Investments L.P. (“EnCap”), today announced it has closed project debt financing for a 235 MW / 470 MWh standalone battery energy storage project in Matagorda County, Texas (“Duffy BESS”).
The Duffy BESS debt financing consists of a construction-to-term loan, tax equity bridge loan, and a letter of credit facility. Norddeutsche Landesbank Girozentrale (“NORD/LB”) served as coordinating lead arranger and Societe Generale and SMBC acted as joint lead arrangers.
"We are thrilled to announce the closing of debt financing that will facilitate completing construction on the Duffy BESS project," said Cassidy DeLine, Chief Executive Officer of Linea Energy. "We are grateful for the financial commitment of our lender partners whose support enables us to advance critical battery energy storage infrastructure in the Lone Star State. The Duffy BESS project represents an important milestone in our mission to strengthen the resilience of the grid that powers Texas homes and businesses."
“Nord/LB is pleased to continue our work with Linea through leading the financing of the Duffy BESS project,” said Sondra Martinez, Head of Project Finance-Origination at NORD/LB. “By supporting Linea in delivering new battery energy storage capacity, this project will enhance grid reliability as regional energy demand continues to grow.”
NORD/LB previously closed a debt financing with Linea for its Pineview utility-scale solar project in Wilcox County, Georgia.
Winston & Strawn served as legal counsel to the lenders. Orrick, Herrington & Sutcliffe LLP served as borrower counsel to Linea Energy.
About Linea Energy
Linea Energy is a leading independent power producer focused on the development, ownership, and operation of clean energy infrastructure. Headquartered in San Francisco, California, Linea is committed to driving the energy transition through the efficient development of a diverse portfolio of solar, battery energy storage, and wind projects. In partnership with EnCap Energy Transition, Linea is dedicated to creating sustainable energy solutions that support a low-carbon future. Linea is focused on re-envisioning existing development strategies and creating unique processes to accelerate project delivery. For more information, visit www.lineaenergy.com.
About EnCap Investments L.P.
Since 1988, EnCap Investments L.P. has been a leading provider of growth capital to the independent sector of the U.S. energy industry. The firm has raised 25 institutional investment funds totaling approximately $47 billion and currently manages capital on behalf of more than 350 U.S. and international investors. Founded in 2019, the EnCap Energy Transition platform is led by three Managing Partners, each with 30-35 years of experience in the development and operations of renewable energy and other power generation assets. For more information, please visit http://www.encapinvestments.com.
About NORD/LB
Norddeutsche Landesbank Girozentrale is a leading commercial bank based in Hanover, Germany, with a strong focus on corporate banking, public sector financing, and capital markets. NORD/LB offers a broad range of services to clients in the energy, infrastructure, and project finance sectors, with a particular emphasis on renewable energy. With more than 250 years of experience, NORD/LB provides tailored financing solutions for large-scale projects worldwide, helping clients achieve their sustainability and energy transition goals. For more information, visit www.nordlb.com.
About Societe Generale
Societe Generale is a top tier European Bank with around 119,000 employees serving more than 26 million clients in 62 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective - to deliver sustainable value creation for all our stakeholders.
About SMBC Group
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 150 offices and 120,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and ADRs on the New York (NYSE: SMFG) stock exchanges. For more information, visit www.smbcgroup.com.
