Lincoln Renewable Energy (LRE), a developer of solar and wind projects in the U.S., has closed a $14 million round of private funding, led by venture capital firm Austin Ventures. Other participants included private investors, as well as LRE management and founding investors.
LRE says it will use the capital to continue developing utility-scale solar photovoltaic projects, as well as targeted early-stage wind power development. The company currently has projects under development in 11 states across the U.S.
LRE recently announced site-plan approval for a $60 million solar farm in Salem County, N.J., in addition to another 10 MW project in neighboring Cumberland County, N.J. In early 2010, the company received a building permit for a 39 MW solar farm in southern Colorado's Alamosa County. LRE is also developing a 50 MW Homestead Solar project located on private land in Clark County, Nev., as well as projects in New Mexico and Texas.
SOURCE: Lincoln Renewable Energy