Lincoln Renewable Energy (LRE), a developer of wind and solar projects in the U.S., has closed a $14 million round of private funding led by Austin Ventures. Other participants included private investors as well as LRE management and founding investors. Ken DeAngelis, general partner, and Clark Jernigan, venture partner – both with Austin Ventures – will join the LRE board of directors.
LRE will use the capital to continue developing utility-scale solar photovoltaic projects as well as targeted early-stage wind power projects. The company currently has projects under development in 11 states across the U.S.
SOURCE: Lincoln Renewable Energy