Linea Energy Closes Project Debt Financing and Preferred Equity Commitment for 250 MW / 500 MWh Mesa View BESS in Texas

SAN FRANCISCO, Oct. 1, 2026 /PRNewswire/ -- Linea Energy ("Linea"), a renewables developer and independent power producer that is sponsored by EnCap Investments L.P. ("EnCap"), today announced the closing of project debt financing and a preferred equity commitment for a 250 MW / 500 MWh standalone battery energy storage ("BESS") project in Upton County, Texas ("Mesa View BESS").

The Mesa View BESS debt financing consists of a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. Norddeutsche Landesbank Girozentrale ("NORD/LB") served as coordinating lead arranger, with Texas Capital participating as a syndicate lender. D.E. Shaw Renewable Investments ("DESRI") provided the preferred equity commitment for the project.

"We're proud to reach another financing milestone alongside, NORD/LB and DESRI, two trusted financing partners," said Cassidy DeLine, Chief Executive Officer of Linea Energy. "The successful closing of Mesa View demonstrates the continued maturation of our platform and our ability to repeatedly deliver investable opportunities to the market. As demand for reliable power continues to grow, Linea remains focused on developing and operating energy infrastructure that supports grid reliability and long-term value creation."

"We are pleased to have led another financing for Linea, building on the past three successful transactions," said Sondra Martinez, Managing Director at NORD/LB. "The Linea team has demonstrated a consistent ability to execute complex energy projects, and we are pleased to continue supporting their growth while helping strengthen grid reliability through additional battery energy storage capacity."

"We're excited to deepen our partnership with Linea through our preferred equity commitment to Mesa View, following our preferred equity commitment on Duffy BESS," said Peter Koczanski, Head of Corporate Development at DESRI. "Our continued partnership with Linea reflects our confidence in the company's development platform, execution capabilities, and ability to advance attractive energy infrastructure projects from development through operation."

Mesa View BESS is expected to reach commercial operation in 2027. Once online, the project will deliver 250 MW of dispatchable capacity into the ERCOT market.

Orrick, Herrington & Sutcliffe LLP served as Sponsor counsel to Linea Energy. Winston & Strawn LLP served as legal counsel to the lenders, while Foley & Lardner LLP served as counsel to DESRI.

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 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 Texas Capital

Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank ("TCB"). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Fort Worth, Houston, San Antonio, Chicago, Los Angeles and New York City, and has a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, corporate and investment banking and wealth management capabilities. All services are subject to applicable laws, regulations and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit texascapital.com.

About DESRI

DESRI and its affiliates develop, acquire, invest-in, own, and operate long-term contracted renewable energy assets in the U.S. DESRI's portfolio of contracted, operating, and in-construction renewable energy projects currently includes over 80 solar, wind and storage projects representing more than twelve gigawatts of aggregate capacity. In addition to its ownership of generating assets, DESRI has acted as a financial investor across the renewable energy industry offering companies capital to support and grow their businesses. For more information, visit www.desri.com.

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SOURCE Linea Energy