Lincoln Renewable Energy (LRE), a Chicago, IL-based developer of U.S. solar and wind projects, closed a $14m round of private funding.
The investment was led by Austin Ventures, with participation from private investors, LRE management and founding investors.
In conjunction with the funding, Ken DeAngelis and and Clark Jernigan, general partner and venture partner with Austin Ventures respectively, will join LRE’s board of directors.
The company intends to use the capital to continue developing utility-scale solar photovoltaic (PV) projects as well as targeted early stage wind power development.
According to Declan Flanagan, CEO of Lincoln Renewable Energy, with the current round of funding closed, the company is well positioned to move its diverse and growing pipeline of solar PV projects towards construction.
LRE currently has projects under development in 11 states across the U.S.