PE-Backed Clean Line to Get $40M from National Grid
November 29, 2012
Clean Line Energy Partners, a developer of long distance, high voltage direct current (HVDC) transmission projects and a portfolio company of ZBI Ventures, has agreed to a $40 million equity investment from National Grid (NYSE: NGG). ZBI Ventures will maintain its existing equity stake in the company. Clean Line is planning to use the capital to advance the development of its four HVDC transmission projects that will connect onshore wind energy resources in the United States to communities and cities with demand for low-cost, clean power. Lazard acted as financial advisor for the transaction.