From: Mercom Capital Group

Elgin, an integrated, utility-scale solar and storage independent power producer, secured up to £500 million (~$672 million) of funding from a banking syndicate to accelerate the build-out of its U.K. pipeline over the coming years. The banking group, including BNP Paribas, Siemens Bank, Société Générale, Standard Chartered, and NatWest, also acted as the sole structuring and coordinating bank.

Atlas Renewable Energy, a solar and wind project developer, secured COP453.95 billion (~$121 million) in financing for the 128.8 MWdc/99.9 MWac El Campano solar project in Córdoba, Colombia, achieving financial close and enabling construction. The financing package is structured under a project finance framework, combining private equity with long-term project finance debt. It includes a loan of COP292.1 billion (~$78 million) and a commercial credit of COP58.38 billion (~$16 million).

ContourGlobal, an international independent power producer backed by KKR, secured €43.8 million (~$52 million) in refinancing from Eurobank for a 36.7 MW operational solar portfolio in Greece. The refinancing covers the majority of the acquisition cost of a portfolio comprising 26 operational solar projects, held across seven special purpose vehicles. The projects, with a combined installed capacity of 36.7 MW, were commissioned between 2011 and 2022.

Sweden-based Orrön Energy, a renewable energy project developer focused on onshore renewable energy assets, completed the sale of a 91 MW agrivoltaic project with a co-located battery option in Eastern Germany to Gülermak Renewables, an independent power producer. The total consideration for the transaction is up to €5.6 million (~$6.6 million), including the reimbursement of development costs.

Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, announced the acquisition of a solar + storage project from Arevon, located on the carport at the Croton‑Harmon Train Station in Westchester County, New York. The project consists of approximately 4.2 MW of solar generation, integrated with a 15 MWh battery energy storage system.

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.