From: Mercom Capital Group

Atlas Renewable Energy, a solar and wind project developer, secured R$1.5 billion (~$274 million) financing 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.

Lightsource bp, a solar project developer, along with its joint-venture partner, Contact Energy, secured NZ$267 million (~$161 million) 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.

Cero Generation, a solar and energy storage project developer and independent portfolio company of Macquarie’s Green Investment Group, announced a financial closure on five solar projects 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.

Birch Creek Energy, a utility-scale solar and energy storage project developer, announced the completion of financing 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 & 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.

Deutsche Bank has announced that it has closed an A$348 million (~$234 million) debt and bank guarantee facility for Goorambat East Solar Project. 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.

For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.

Read last week’s project finance brief.