The 2-dimensional linguistic intuitionistic fuzzy variables (2DLIFVs) provide an efficient tool to model the cognitive information of experts in practical circumstances while considering the reliability of the evaluation results. It is a hybrid model representing qualitative information, which derives from integrating the 2-dimensional linguistic variables (2DLVs) with linguistic intuitionistic fuzzy numbers (LIFNs). In this work, we first define a novel score function to establish a proper ranking order among the 2DLIFVs. Next, we define a new distance measure under a 2-dimensional linguistic intuitionistic fuzzy framework to determine the difference between 2DLIFVs. Some mathematical properties and special cases of the defined distance measure are also discussed. The power average (PA) operators provide aggregation tools, allowing aggregated arguments to support each other in the aggregation process. Motivated by the notion of power average (PA) and power geometric (PG), we define four new aggregation operators (AOs) to aggregate 2DLIFVs by considering information correlation in terms of support degree during the aggregation process. Several mathematical properties of the proposed AOs are also investigated. In addition, a new integrated 2DLIF-CRITIC-WASPAS methodology is developed in the 2-dimensional linguistic intuitionistic fuzzy environment to deal with complex decision issues. In this method, a “Criteria Importance Through Intercriteria Correlation (CRITIC)” approach is used to obtain the associate weights of the attributes, and the “Weighted Aggregated Sum Product Assessment (WASPAS)” method is executed to establish a valid ranking order among the alternatives.Moreover, a real problem of venture capital investment related to renewable energy projects is considered to demonstrate the applicability of the proposed methodology. The evaluation process considers four aspects: the management team, service or product, finance, and the market, which are related to 14 attributes. A sensitivity analysis is carried out to explain the reliability of the obtained results. Comparing the proposed method with some extant methods establishes the strength and robustness of the formulated method in real-world situations.