From: Mercom Capital Group

Cypress Creek Renewables, a renewable energy project developer and independent power producer, secured approximately $133 million in funding to support the development of the 200 MW Destiny Energy Storage project in Texas. Destiny is a standalone battery energy storage project that is currently under construction and located in Harris County. The project is expected to be completed in early 2026.

Arevon Energy, a solar and energy storage project developer, announced closing $509 million in financing for the 430 MWdc Kelso 1 & 2 solar projects in Scott County, Missouri. The financing package comprises a $245 million bridge loan, a $172 million construction loan, and $92 million of credit support. The company will develop, build, and operate the two-phase Kelso solar projects, Arevon’s first utility-scale renewable energy projects in Missouri.

NorthStar Clean Energy, a renewable energy project developer and wholly owned subsidiary of CMS Energy, secured up to $334 million in construction-to-term financing for developing two solar projects in Michigan. The projects include a 200 MW solar project in Branch County and a 50 MW solar project in Genesee County. Once operational, the projects are expected to produce renewable-based electricity to power nearly 36,000 households annually.

Adapture Renewables, a utility-scale solar and energy storage project developer, announced the acquisition of a 110 MW solar and 110 MW battery energy storage project from Samsung C&T Renewables, the renewable development and investment platform of Samsung C&T America. The project, known as Haynach Solar, is in Colorado and is expected to reach commercial operations by 2029. The company did not disclose the financial details of the acquisition.

Click here for reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors.

Read last week’s project finance brief.