From: Mercom Capital Group

Dimension Energy, a community solar developer, owner, and operator, has secured $857 million in additional capital to expand its distributed solar portfolio in the U.S. The financing comprises a $200 million increase to the company’s corporate credit facility and a $657 million construction-to-term debt and tax equity financing package. Nuveen Energy Infrastructure Credit and funds and accounts managed by HPS Investment Partners are the lead lenders for the $200 million increase.

Recurrent Energy, a developer, owner, and operator of solar and energy storage assets, has secured $695 million in project financing and tax equity for its 330 MW Cobalt Solar project in California. Located approximately 20 miles west of Blythe, California, in Riverside County, the project is currently under construction and is expected to reach commercial operation by the end of 2027.

European Energy, a renewable energy project developer, has reached financial closure of €234.1 million (~$270 million) for a 225 MW agrivoltaic project in Vizzini, Sicily, Italy. European Energy arranged the financing on behalf of Sun Project, the project’s developer and borrower. European Energy is a Denmark-based renewable energy company. Crédit Agricole CIB, Intesa Sanpaolo through its IMI CIB Division, NORD/LB, and Societe Generale provided the financing. The funds will support the project’s construction, and commercial operations are expected to begin in 2028.

NextEnergy UK I, a private U.K. fund managed by NextEnergy Capital, has acquired a 107 MW portfolio of three operational standalone battery storage assets in southeast England. NextEnergy Capital is a specialist solar investment and asset manager. The portfolio comprises the 40 MW Maldon project, the 28 MW Basildon project, and the 39 MW Loudwater project. All three assets are fully operational and have long-term Capacity Market contracts and established routes to market through operational counterparties.

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

Read last week’s project finance brief.