From: Mercom Capital Group

DRI, an Amsterdam-based renewable energy company and a subsidiary of the DTEK Group, announced the acquisition of rights to build a 112 MW/448 MWh battery energy storage system from Greenvolt Group, a renewable energy project developer. The project, located in Kozienice, in the east-central part of Poland, was acquired through Greenvolt Power, a developer of utility-scale solar, wind, and energy storage projects.

Soltage, an independent utility-scale solar and energy storage power producer, closed a $525 million tax credit investment agreement. The financing will provide the company with stable, long-term capital to continue developing, constructing, and operating its over 2 GW of solar and battery energy storage projects. The financing includes the purchase of investment tax credits over a two-year period.

Oyster Green Hybrid Three, a subsidiary of Oyster Renewable Energy, has achieved financial closure for its 342 MW wind-solar hybrid project in Madhya Pradesh, securing a loan of ₹18.44 billion (~$207.71 million) from the Union Bank of India with a tenure of approximately 20 years.

France-based diversified multinational energy company TotalEnergies is selling 50% of its 1.4 GW solar portfolio in North America to global investment firm KKR for an enterprise value of $1.25 billion. It has signed an agreement with KKR and insurance vehicles for the sale.

India-based renewable energy solutions provider KPI Green Energy has secured approval from State Bank of India for a ₹32 billion (~$360.77 million) loan for its solar and hybrid independent power producer projects in Gujarat. The approval comprises both fund-based and non-fund-based facilities to part-finance the development of its 250 MW solar project and 370 MW hybrid project, comprising 557 MWp of solar and 124.2 MW of wind, in Gujarat.

Renewable energy company Hero Future Energies (HFE) has secured ₹10.24 billion (~$115.43 million) in funding from the State Bank of India (SBI) to finance a 60 MW hybrid project in Andhra Pradesh. The project, which combines solar, wind, and storage and is contracted with the Solar Energy Corporation of India (SECI), is being built in the Kurnool district. Funding was secured through the company’s special purpose vehicle, Clean Solar Power Barmer.

AIP Management, an investor in energy and decarbonization infrastructure, has agreed to acquire a 49% equity stake in a U.K.-based battery energy storage system portfolio with a combined capacity of 700 MW and 3.5-hour duration from BW ESS, an energy storage project developer, owner, and operator.

Sonnedix, an independent solar power producer, acquired a portfolio of utility-scale solar projects with a combined capacity of 226 MW from Capital Dynamics, an independent private asset management firm. The portfolio comprises five subsidy-free solar projects located across Lazio and Sicily in Italy and is backed by long-term Pay-as-Produced power purchase agreements. Four of the five projects in the portfolio are operational.

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.