PFCL Floats Empanelment Tender for Metering Infrastructure Service Providers

Solarium Green Energy Receives BSE Nod for Initial Public Offering

Power Transmission Company Kalpataru Projects Raises ₹10 Billion in QIP

Himachal Regulator Approves Tariff for 900 MW Hybrid Power Projects

Daily News Wrap-Up: HPERC Allows DISCOM To Procure 550 MW Solar Power

MES Invites Bids for Maintenance of 1.7 MW Solar Project

Exploring Solar Open Access Potential in Odisha and Haryana

Karnataka Floats EPC Tender for 1.2 MW Solar Project

Himachal Regulator Allows DISCOM to Procure 550 MW Solar Power from SECI

Agri-Solar Solutions Provider GK Energy Files Papers for ₹5.01 Billion IPO


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					</table><p>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Glint Solar, a company that provides software for solar developers, </strong><a href="https://mercomcapital.com/glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $8 million in a Series A funding round led by Smedvig Ventures with participation from Momentum</strong>, Futurum Ventures, and Antler. The company aims to use the funding to accelerate the growth of its SaaS software platform that enables solar developers to evaluate and pre-design sites for projects, expand its product offerings, and enter new markets to serve existing and new solar developers.</p>
<p><strong>Ampd Energy, a provider of battery energy storage solutions for heavy industries, <a href="https://mercomcapital.com/ampd-energy-secures-27-3-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $27.3 million in an oversubscribed Series B funding round. Kibo Invest and Openspace co-led the round, which also included</strong> existing investors MTR Lab, Taronga Ventures, and 2150. The company will use this funding to expand its battery energy storage supply globally.</p>
<p><strong>Solar energy company ACME Solar Holdings’ ₹29 billion (~$344.85 million) initial public offering (IPO) </strong><a href="https://www.mercomindia.com/acme-solar-holdings-ipo-oversubscribed" target="_blank" rel="noopener"><strong>received</strong></a><strong> tepid interest from investors</strong>. At the end of the bidding window on November 8, 2024, the issue was oversubscribed 2.75 times. The price band was set at ₹275-289 (~$3.27-3.43) per equity share with a face value of ₹2 (~$0.023). The IPO saw bids for 160 million shares, exceeding the 58.20 million shares on offer.</p>
<p><strong>Norway-based FREYR Battery has </strong><a href="https://www.mercomindia.com/freyr-to-buy-trina-solars-5-gw-solar-module-facility-in-u-s-for-340-million" target="_blank" rel="noopener"><strong>announced</strong></a><strong> it is acquiring China-headquartered solar photovoltaics company Trina Solar‘s U.S. solar manufacturing assets for $340 million</strong>. FREYR will acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas, which started production on November 1, 2024.</p>
<p><strong>Electric vehicle (EV) startup MOOEV Technologies has </strong><a href="https://www.mercomindia.com/ev-startup-mooev-raises-%E2%82%B940-million-in-seed-funding-round" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹40 million (~$474,683) in a seed funding round led by Bizdateup</strong>. Investors included Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office). The company will use the funds to accelerate the deployment of electric heavy-duty trucks and establish charging infrastructure for sustainable logistics across the country.</p>
<p><strong>ZE Energy, a developer specializing in solar and energy storage projects, </strong><a href="https://mercomcapital.com/ze-energy-secures-58-million-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> €54 million (~$58 million) in funding</strong>. The funding round was led by Infrastructure Investment Core+, managed by Amundi Energy Transition, with participation from The Climate Infrastructure Fund, which is managed by Demeter.</p>
<p><strong>Cube Green Energy, a renewable platform of global infrastructure investment manager I Squared Capital, has </strong><a href="https://mercomcapital.com/cube-green-energy-to-acquire-solar-developer-sunfarming/" target="_blank" rel="noopener"><strong>agreed</strong></a><strong> to acquire control of SUNfarming</strong>, a German Solar developer and independent power producer. The transaction remains subject to obtaining regulatory clearances and conditions and is expected to close by Q1 2025.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week’s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-redoxblox-raises-30-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Glint Solar Raises $8 Million in Series A Funding


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ze-energy-financing-solar-storage/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>ZE Energy, a France-based solar and energy storage project developer, </strong><a href="https://mercomcapital.com/ze-energy-secures-financing-for-77-mw-solar-and-storage-project/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> an assetco financing to construct a 77 MWp solar project coupled</strong> with a 14.8 MW/33.5 MWh lithium-ion battery storage project. Sienna Investment Managers, a European asset manager firm, will provide the funding under its Predirec ENR 2 fund. The utility-scale hybrid project is located in Vert, Landes, France.</p>
<p><strong>Grenergy, an independent solar and wind power producer, has </strong><a href="https://mercomcapital.com/grenergy-acquires-1-gw-solar-projects-from-repsol-and-ibereolica/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> 1 GW of solar projects, including a 1 GW energized line, from Repsol and Ibereólica</strong>. The company will invest $128 million in this transaction. The transaction comprises the purchase of a 77 MW solar project and a solar portfolio totaling 923 MW in various stages of development.</p>
<p><strong>Emeren Group, a solar project developer, announced the <a href="https://mercomcapital.com/emeren-sells-57-mw-solar-project-portfolio/" target="_blank" rel="noopener">sale</a> of 57 MW solar project portfolio to Trina Solar Systems, the French subsidiary of Trina Solar International System Business Unit</strong>. The portfolio consists of five solar projects in various stages of development. Of these five, one is in the early stage and one in the late stage, both sold in Q3 2024 to Trina. The remaining three projects are in the mid-stage to be monetized. In addition, there is potential for the addition of battery energy storage systems.</p>
<p><strong>Copenhagen Infrastructure Partners, a renewable energy investment firm, </strong><a href="https://www.globenewswire.com/news-release/2024/09/24/2952556/0/en/CIP-Acquires-1-GWh-Scatter-Wash-Battery-Energy-Storage-Project-in-Arizona-from-Strata-Clean-Energy-and-Signs-Construction-and-Asset-Management-Agreements-with-Strata.html" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of the 255 MW/1,020 MWh Scatter Wash standalone battery storage project</strong> in Phoenix, Arizona, from Strata Clean Energy, a vertically integrated solar and storage development, engineering, procurement, and construction, and operations and maintenance company.</p>
<p><strong>BayWa r.e., a developer of renewable energy projects, </strong><a href="https://mercomcapital.com/baywa-r-e-sells-solar-projects-totaling-222-mw-to-octopus-energy-generation/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of four solar projects to Octopus Energy Generation, a renewable energy investment firm</strong>. The projects have a combined capacity of 222 MWp across the UK. All three projects are ready to build, with construction scheduled to begin this year. The construction of the fourth project will start in 2025, and all are expected to reach commercial operations between 2025 and 2026.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-ib-vogt-solar-project-spain-2/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: ZE Energy Secures Financing for 77 MW Solar and Storage Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ib-vogt-solar-project-spain-2/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>ib vogt, a solar and energy storage project developer, </strong><a href="https://mercomcapital.com/ib-vogt-sells-110-mw-solar-project-in-spain/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of its 110 MW Pato solar project in Spain to NextPower V ESG</strong>, an OECD Fund of NextEnergy Capital. Construction of the solar project began in March 2024. The solar project is expected to be commercially operational in the first quarter of 2025 and has a signed power purchase agreement with an industrial innovator.</p>
<p><strong>Alight, an independent solar power producer, announced the financial </strong><a href="https://mercomcapital.com/alight-secures-123-million-debt-financing-for-solar-projects-in-sweden/" target="_blank" rel="noopener"><strong>closure</strong></a><strong> of €110 million (~$122.56 million) senior debt portfolio financing with the Dutch lender Rabobank</strong>. The funding will be used to build, own, and operate small to medium solar projects (up to 50 MW) with a combined capacity of about 220 MW in Sweden.</p>
<p><strong>The European Investment Bank (EIB) and BNZ, a solar project developer owned by Nuveen Infrastructure, </strong><a href="https://mercomcapital.com/bnz-secures-185-million-green-loan-for-solar-project-portfolio/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the signing of a €166 million (~$184.68 million) green loan</strong> to support the development of 17 new solar projects with a combined capacity of more than 700 MW located across Spain, Italy, and Portugal.</p>
<p><strong>Sonnedix, an independent solar power producer, announced the </strong><a href="https://mercomcapital.com/sonnedix-acquires-80-mw-solar-project-in-italy/" target="_blank" rel="noopener"><strong>acquisition</strong></a><strong> of an 80 MW solar project in Sicily, Italy, from Blunova</strong>, a renewable energy project developer and the sub-holding of Carlo Maresca Group. Following the acquisition, the company will acquire ten operating plants totaling 250 MW from Blunova in Southern Italy.</p>
<p><strong>Arevon Energy, a solar and energy storage project developer, </strong><a href="https://mercomcapital.com/arevon-secures-351-million-financing-for-251-mw-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the closing of $351 million financing to build the 251 MWdc Gibson Solar Project</strong>, located in Gibson County, Indiana. Construction on the Gibson solar project began last month. The funding consisted of a construction loan from CoBank, Societe Generale, and PNC Bank, along with a letter of credit facility provided by CoBank.</p>
<p><strong>Zelestra (formerly Solarpack), a renewable energy project developer, has </strong><a href="https://www.mercomindia.com/zelestra-closes-146-million-financing-for-453-mw-solar-project-in-rajasthan" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a financing package of €132 million (~$146 million) for a 453 MW solar PV project</strong> in Gorbea, Rajasthan. The project will supply power to the Solar Energy Corporation of India for 25 years. The financing was signed with HSBC, Credit Agricole, MUFG, and Bank of America.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-atlas-secures-financing-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: ib vogt Sells 110 MW Solar Project in Spain


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-atlas-renewable-energy-secures-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Atlas Renewable Energy, a solar and wind project developer, </strong><a href="https://mercomcapital.com/atlas-renewable-energy-secures-financing-787-mw-solar-project-brazil/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> R$1.5 billion (~$274 million) financing</strong> for the development of the Luiz Carlos solar complex. The 787 MW solar project is located in Paracatu, Minas Gerais. The project’s commercial operation is scheduled for 2025, and the company claims it will produce about 1.594 GWh of clean electricity annually, enough to power over 870,000 Brazilian households.</p>
<p><strong>Lightsource bp, a solar project developer, along with its joint-venture partner, Contact Energy, </strong><a href="https://mercomcapital.com/lightsource-bp-secures-161-million-in-financing-for-kowhai-park-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> NZ$267 million (~$161 million)</strong> in funding for its 168 MWdc Kōwhai Park solar project located in Christchurch, New Zealand. Westpac New Zealand, Mizuho, China Construction Bank, and Intesa Sanpaolo – IMICIB provided the funding for the project. The debt package is structured as a green financing loan, with the lenders jointly underwriting the package. Construction of the project is scheduled to begin in late 2024, and commercial operation is expected to start in 2026.</p>
<p><strong>Cero Generation, a solar and energy storage project developer and independent portfolio company of Macquarie’s Green Investment Group, </strong><a href="https://mercomcapital.com/cero-secures-financing-for-244-7-mw-solar-portfolio-in-spain/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> a financial closure on five solar projects</strong> totaling 244.7 MW in Spain. A consortium of third-party lenders, including Banco Sabadell, Rabobank, and ING, provided the construction financing. Elmya and Metlen are the EPC contractors for the projects, while LONGi is the module supplier. The five utility-scale projects have signed a 10-year power purchase agreement with an international technology company. Construction on the projects will commence soon.</p>
<p><strong>Birch Creek Energy, a utility-scale solar and energy storage project developer, </strong><a href="https://mercomcapital.com/birch-creek-energy-secures-financing-for-42-mw-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the completion of financing</strong> for the 42 MW Altona Solar project in Audrain County, Missouri. The company also announced that the project is now fully operational. Celtic Bank provided tax equity, while West Town Bank &amp; Trust provided permanent debt. The Altona Solar and Earp Solar projects are among several projects scheduled to reach commercial operations in 2024 as part of Birch Creek’s independent power producer strategy.</p>
<p><strong>Deutsche Bank has </strong><a href="https://www.db.com/news/detail/20240816-deutsche-bank-finances-the-construction-of-the-goorambat-east-solar-farm?language_id=1" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it has closed an A$348 million (~$234 million) debt and bank guarantee facility for Goorambat East Solar Project</strong>. The bank acted as the initial financer, bank guarantee facility provider, and hedge provider on this transaction. The 250 MW Goorambat East Solar Project is being developed by ENGIE. Construction and commissioning of the 250 MW solar project is expected to be finished in 2026. Once completed, at its maximum capacity, the solar project is expected to generate enough electricity to power the equivalent of 105,000 average Victorian homes.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s project finance <a href="https://mercomcapital.com/project-finance-brief-matrix-renewables-financing-projects/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Atlas Renewable Energy Secures Financing for 787 MW Solar Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ox2-sells-energy-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>OX2, a solar and energy storage project developer, reached an agreement to </strong><a href="https://mercomcapital.com/ox2-sells-42-5-mw-energy-storage-project-in-sweden/" target="_blank" rel="noopener"><strong>sell</strong></a><strong> the 42.5 MW/ 42.5 MWh Bredhälla energy storage</strong> project in Sweden to Flower, an energy technology and energy storage solutions provider. OX2 started construction of the project in late 2022, which is located in the municipality of Uppvidinge in southern Sweden. The facility consists of batteries utilizing lithium-ion technology.</p>
<p><strong>Ib vogt, a developer of solar and storage projects, has </strong><a href="https://mercomcapital.com/ib-vogt-secured-funding-for-95-mw-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €60 million (~$65.1 million) in project funding to build and operate a 95.18 MW solar project in Spain.</strong> Banco Santander, a Madrid-based multinational financial services company, provided the funding. Clifford Chance, a London-based multinational law firm, advised Ib vogt on the project financing. The company will use the funds to construct, operate, and maintain the solar project, which will be built in the Segovia province in the Castile and Leon region of Spain.</p>
<p><strong>RWE, a German power generation company, and PPC, a Greece-based utility company, have signed </strong><a href="https://mercomcapital.com/rwe-and-ppc-closed-funding-for-730-mwp-solar-project-portfolio/" target="_blank" rel="noopener"><strong>loan</strong></a><strong> agreements </strong>with Alpha Bank, Eurobank, and National Bank of Greece for the construction of a portfolio of solar projects with a total capacity of 730 MWp (691 MWac) in Amyntaio, Western Macedonia, with contribution from Recovery and Resilience Fund. The projects will be developed by METON Energy, a joint venture of RWE Renewables Europe &amp; Australia (51%) and PPC Renewables (49%), subsidiaries of RWE and PPC, respectively.</p>
<p><strong>DWS, an asset manager, has <a href="https://www.x-elio.com/dws-acquires-a-portfolio-of-147-mw-in-solar-assets-from-x-elio-in-spain/" target="_blank" rel="noopener">announced</a> the acquisition of three solar projects in Spain totaling 147 MW from X-ELIO, a company specializing in developing, constructing, financing</strong>, and operating solar projects. The three projects are located in Medina de las Torres, Badajoz, and started operations in mid-2023. The three plants will generate an average estimated supply of renewable energy to the equivalent of 91,800 households per year.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-pivot-energy-secures-tax-equity-investment/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: OX2 Sells 42.5 MWh Energy Storage Project in Sweden


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-recurrent-energy-funding-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Recurrent Energy, a global developer, owner, and operator of solar and energy storage, </strong><a href="https://mercomcapital.com/recurrent-energy-secures-funding-for-119-mw-horus-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> financial closure on the 119 MW Horus Solar project</strong> in Mexico. The solar project was closed under a non-recourse financing of $51 million provided by Korea Eximbank, South Korea’s official export credit agency, and KEB Hana Bank, one of South Korea’s largest banks.</p>
<p><strong>ENGIE North America, a U.S.-based electric utility, </strong><a href="https://mercomcapital.com/engie-secures-1-billion-financing-for-1-3-gw-renewable-projects/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the completion of more than $1 billion in tax equity financing for 1.3 GW of renewable energy projects</strong> in the U.S. The financing was secured through separate agreements with three banks, including J.P. Morgan, Goldman Sachs, and BNP Paribas. The financing pertains to a portfolio of recently commissioned renewable projects in the U.S. The overall portfolio consists of 6 projects across ERCOT, MISO, and SPP, including 950 MW of solar and 353 MW of wind capacity.</p>
<p><strong>The European Bank for Reconstruction and Development and French asset manager Eiffel Investment Group extended a joint <a href="https://mercomcapital.com/ebrd-and-eiffel-provide-loan-solar-projects-poland/" target="_blank" rel="noopener">loan</a> of €45 million</strong> (~$48.83 million) to PL-SUN for the construction of a portfolio of solar power plants.</p>
<p><strong>India-based BluPine Energy has expanded its renewable energy portfolio by </strong><a href="https://www.mercomindia.com/blupine-energy-acquires-369-mw-of-solar" target="_blank" rel="noopener"><strong>acquiring</strong></a><strong> 369 MW of solar power assets from the ACME Group</strong>. The deal covers 14 special-purpose vehicle solar projects located across Uttarakhand, Punjab, and Karnataka. With this acquisition, BluPine’s total renewable capacity has grown to 2.4 GW.</p>
<p><strong>Elawan Energy, a developer and operator in the renewable energy industry, has </strong><a href="https://mercomcapital.com/elawan-energy-secures-163-million-for-renewable-project-portfolio-in-spain/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> €150 million (~$162.76 million) in debt financing</strong> for a portfolio of renewable projects in Spain. The project is financed by ING, Banco Sabadell, Banco Santander, and Unicaja. Watson Farley &amp; Williams provided legal assistance to Elawan Energy through the transaction, while Clifford Chance advised the financers.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-strata-clean-energy-secures-storage-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Recurrent Energy Secures Funding for 119 MW Solar Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-plus-power-secures-billion/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Plus Power, a developer and owner of energy storage projects, </strong><a href="https://mercomcapital.com/plus-power-secures-for-standalone-storage-projects/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the completion of $1.8 billion in new financing for the construction and operation of five standalone battery energy storage projects.</strong> The financing commitments announced will cover the five projects with a cumulative 1,040 MW/2,760 MWh capacity. The transactions will support the portfolio’s construction and operations, including construction financing, term financing, letters of credit, and tax equity investments in partnership with 11 leading industry lenders and investors.</p>
<p><strong>Grenergy, an independent solar and wind power producer, has </strong><a href="https://mercomcapital.com/grenergy-sells-300-mw-of-solar-projects-in-spain/" target="_blank" rel="noopener"><strong>agreed</strong></a><strong> to sell two solar projects of nearly 300 MW capacity in Spain</strong> to Allianz Capital Partners on behalf of Allianz insurance companies and institutional investors for €270.6 million (~$284.61 million). The transaction’s closing, subject to the satisfaction of customary conditions, is expected to occur on June 30, 2025. The projects are expected to reach commercial operation by the second half of 2024.</p>
<p><strong>Spearmint Energy, an energy storage project developer, </strong><a href="https://mercomcapital.com/spearmint-energy-secures-tax-equity-financing-for-energy-storage-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the successful closure of a $92 million tax equity investment for a 150 MW/300 MWh battery energy storage project</strong> in West Texas provided by Greenprint Capital Management, an investment firm. This marks one of the first applications of the Investment Tax Credit structure for a standalone battery energy storage system following the passing of the Inflation Reduction Act. The project named Revolution reached its completion this summer and is scheduled to begin operations later this year.</p>
<p><strong>Opdenergy, an independent renewable energy producer, <a href="https://mercomcapital.com/opdenergy-secures-252-million-project-financing/" target="_blank" rel="noopener">closed</a> a $252 million project financing package for two solar power projects in the U.S. </strong>The first solar project, “Blake, “located in Jefferson County, West Virginia, has an installed capacity of 100 MW, and the second solar project, “Elizabeth,” located in Allen Parish, Louisiana, has an installed capacity of 160 MW. Both solar projects are currently under construction and are expected to be operational within the next few months.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-voltalia-solar-project-newave-energia/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Energy Storage Firm Plus Power Secures $1.8 Billion


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ashtrom-secures-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Ashtrom Renewable Energy, an independent power producer and subsidiary of the Israel-based Ashtrom Group, has </strong><a href="https://mercomcapital.com/ashtrom-renewable-energy-secures-financing-for-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $270 million</strong> for its 400 MW Tierra Bonita Solar Project in Texas. The green financing was secured from a group of five banks, including BHI, the U.S operation of Bank Hapoalim Group, Bayerische Landesbank, ING Capital, Rabobank, and Société Générale. The project is currently under construction and is expected to reach commercial operation by Q4 2024.</p>
<p><strong>Münch Energie, the German-based decentralized energy supplier, </strong><a href="https://mercomcapital.com/munch-energie-secures-financing-solar-project-portfolio/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €21 million (~$22.12 million) in mezzanine financing, a hybrid of debt and equity financing</strong>, for a solar photovoltaic portfolio of 125 MW projects. The financing was provided by a German pension fund, which is managed by Prime Capital. The transaction was actively supported by Capcora as an exclusive financial advisor. Münch Energie has issued a bearer bond as part of a private placement. The total subordinated financing volume amounts to €20.7 million (~$21.80 million) and is secured by 62 photovoltaic projects, which consist of mainly operational assets and some under construction.</p>
<p><strong>Capital Dynamics, a private asset management firm, has <a href="https://mercomcapital.com/capital-dynamics-acquires-solar-projects-italy/" target="_blank" rel="noopener">acquired</a> 170 MW of construction-ready solar photovoltaic projects</strong> located in Sicily, Italy, from a global energy service provider. The projects will be supported by long-term power purchase agreements. Once operational, the projects are estimated to generate approximately 324 GWh of clean energy per annum – equivalent to over 87,000 tons of avoided CO2 emissions and enough electricity to power over 63,500 homes annually.</p>
<p><strong>Advanced Power, an independent renewable energy power producer, </strong><a href="https://mercomcapital.com/advanced-power-sells-solar-and-storage-project-in-texas/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of Oriana Solar LLC in Texas to Sabanci Renewables</strong>, a subsidiary of Sabanci Holdings. Oriana Solar is a 232 MWdc solar power generating facility with a co-located 60MW/120 MWh battery storage capacity in Victoria County, Texas. The project is expected to bring clean power to the Texas electricity markets and serve the load centers in the Gulf Coast region of Texas, including Houston, Corpus Christi, and Freeport.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-southern-power-acquires-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Author: Sohini Aich

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