From: Mercom Capital Group

Aypa Power, a Blackstone portfolio company and utility-scale energy storage and hybrid renewable energy projects developer, closed a $1.5 billion construction warehouse revolving credit facility, with an additional $0.5 billion accordion feature. The warehouse financing will serve as the company’s principal funding source for advancing utility-scale energy storage projects expected to reach commercial operation through 2028.

Gulf Development Public Company Limited (GULF), a Thailand-based power and infrastructure company, has secured THB60,000 million (~$1.9 billion) in loan facilities to support the development of 27 renewable energy projects. Of the total financing, THB 43,000 million (~$1.3 billion) will be used to support 15 solar and solar-plus-battery energy storage projects with a combined capacity of 843 MW. To date, 12 projects totaling 649 MW have already reached commercial operations, while the remaining three projects (194 MW) are on track for completion in 2026.

NineDot Energy, a community-scale battery energy storage systems developer, closed a $431 million debt financing led by Natixis Corporate & Investment Banking for the construction of 28 battery energy storage projects totaling 124 MW/494 MWh. These projects are part of the company’s 60+ project pipeline and are in addition to NineDot’s New York projects already in operation.

Origis Energy, a vertically integrated renewable energy platform provider and solar project developer, closed an investment of $340 million in tax equity capital to support a 413 MW utility-scale solar project in Ector County, Texas. Crux Capital Securities, Crux’s registered broker-dealer, underwrote and structured the investment, which is backed by investment-grade-rated capital.

METLEN Energy & Metals (formerly MYTILINEOS), a Greek industrial conglomerate, entered into an agreement with Schroders Greencoat, the specialist energy transition infrastructure manager of Schroders Capital, to sell a portfolio of solar projects totaling 283 MW in the U.K. The portfolio, comprising seven projects located across England and Scotland, has been developed, constructed, and commercially structured by METLEN.

Octopus Australia, a renewable energy project developer and fund manager, acquired two new development projects in Australia, including the 1.2 GW/4.8 GWh Hanworth battery energy storage system in New South Wales and the 300 MW solar photovoltaic with a 150 MW/300 MWh Dunmore solar and battery project in Queensland.

Greenwood Energy, a renewable energy subsidiary of privately-owned international business Libra Group, has reached financial close of up to COP163 billion (~$42.5 million) for its TERRA Site I, the first phase of the TERRA INITIATIVE, comprising two solar projects with a combined capacity of 52 MWp.

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.