Private investment company Bluescape Resources will invest up to $50 million in Houston-based Clean Line Energy Partners.
Under the terms of the transaction, Bluescape will have the potential to invest additional capital in the company's transmission projects. According to Clean Line, company investor National Grid, the funds associated with ZBI Ventures, and the Houston-based Zilkha family will maintain their existing equity stakes.Â
The investment in Clean Line is consistent with Bluescape's strategy of developing, acquiring and exploring energy resources that are vital to the world's economy, health and welfare.
Clean Line has five transmission projects under development that will enable the delivery of thousands of megawatts of low-cost wind power.
Lazard represented Clean Line as sole financial advisor on the transaction. Vinson & Elkins served as legal counsel to Clean Line, and Bracewell & Giuliani served as legal counsel to Bluescape. Completion of the transaction is subject to regulatory approvals.