From: Mercom Capital Group

Germany-based independent power producer Encavis acquired 30 MW of ready-to-build Pozzolo solar project in Italy. The value of the transaction and the vendor’s name were not disclosed. The solar project is expected to generate an average of around 42 GWh of electricity annually and will be connected to the grid in the second quarter of 2025.

Radial Power, a developer-owner-operator of distributed clean energy assets across large real estate portfolios, secured $80 million in tax equity financing from Bank of America to fund developing and installing 96 MW Commercial and Industrial (C&I) and community solar projects across the U.S. The company will use the funding to support its pipeline of distributed generation projects through late 2024, encompassing both asset and portfolio-level turn-key integrated C&I and community solar solutions.

German development bank Kreditanstalt für Wiederaufbau (KfW) has granted a Є130 million (~$142 million) loan to the Indian Ministry of Finance and a Є70 million (~$ 76 million) loan to the State Bank of India (SBI) recently. SBI will use the funds to refinance solar projects with a total capacity of 180 MW as part of phase III. The loan extended to the power generation company of Maharashtra through the Ministry of Finance will support both ground-mounted solar systems with a total capacity of 330 MW and transmission lines from solar projects to the nearest substation.

Emeren, a solar project developer, announced the sale of a 53.6 MW solar project portfolio in Hungary to Kronospan / Douglas Renewables, a manufacturer of wood-based panels. The portfolio encompasses six projects at various stages of advanced development. Four of them are already operational. One more power plant is scheduled to commence operations at the end of Q4 2023, with the final project expected to come online by mid-2024.

Goldbeck Solar Investment, the investment arm of Goldbeck Solar and Suncatcher Polska, sold 9 MW of solar projects in Poland. The transaction details were not disclosed. The cluster comprises two solar parks in Barlinek in the Western Pomeranian Voivodeship in Poland. It has been operating since December 2023.

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.