From: Mercom Capital Group

DRI, a renewable energy company based in Amsterdam and a subsidiary of the DTEK Group, has announced the signing and completion of a purchase agreement to develop a 166 MWp solar portfolio in Sardinia, Italy. The portfolio, named Project Nox, comprises four solar projects acquired from Enerland, a solar engineering, procurement, and construction firm. Construction is scheduled to commence in the second half of 2026.

Enfinity Global, a renewable energy project developer, announced the closing of €165 million (~$173.84 million) in financing to develop a portfolio of three utility-scale solar projects totaling 147 MW located in Italy’s Lazio region. The projects will reach commercial operation by 2026. The funding was arranged through a club deal structure, with ING and Rabobank serving as lenders and mandated lead arrangers.

Mahindra Susten, the clean-tech arm of the Mahindra Group, has closed a financing deal worth ₹14.48 billion (~$170.6 million) with HDFC Bank and Axis Bank for its 560 MW solar projects in Gujarat and Rajasthan. The funding will facilitate the construction of these projects under long-term power purchase agreements with Gujarat Urja Vikas Nigam and Rajasthan Urja Vikas Nigam.

Dimension Energy, a community solar project developer, secured a $284 million construction and tax equity bridge loan to develop and construct a 122 MWdc distributed generation solar portfolio from First Citizens Bank, alongside ING, National Bank of Canada, Comerica, Cadence, Denham, and Siemens. The portfolio comprises 30 community solar projects across seven states, including Delaware, Illinois, Maine, New Jersey, New York, Pennsylvania, and Virginia.

OX2, a solar and energy storage project developer, secured €73 million (~$76.69 million) in financing for the 100 MW Rutki solar project in Poland. NORD/LB, a German commercial bank, provided the funding. The solar project is currently under construction and is expected to be fully operational by the end of 2025. The Rutki solar project, located in the Niemodlin municipality in southwestern Poland, will incorporate 145,000 ground-mounted photovoltaic modules.

Solar Landscape, a commercial and industrial rooftop solar developer, secured $847 million in project investment and financing in 2024. The funding will support the deployment of over 200 commercial rooftop solar installations across the U.S.

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.