From: Mercom Capital Group

Eolian, a U.S. developer, owner, and operator of renewable energy and energy storage infrastructure, secured $463 million financing from Natixis Corporate and Investment Banking. The funding will be used for the development and construction of the Padua 2 and Padua 3 battery energy storage systems, totaling 350 MW/1.7 GWh, in Bexar County, Texas. The financing will support the completion of the final stages of the Padua Complex, which is projected to be finished by spring 2026.

Rivington Energy, a renewable energy solutions provider, has announced the acquisition of three co-located solar and battery energy storage projects in the U.K. totaling 139 MW from GRIDSERVE, a developer and operator of renewable energy and EV charging infrastructure. The portfolio comprises two ready-to-build assets of 54 MW and 44 MW in Scunthorpe and Doncaster, and a pre-ready-to-build 41 MW project in Hartlepool.

Renewable energy company Hero Future Energies has secured a ₹19.8 billion (~$221 million) loan from public sector banks State Bank of India and Canara Bank to develop a 120 MW wind-solar hybrid project with energy storage systems. Hero has received the funding for its special purpose vehicle, Clean Renewable Energy Hybrid Three. The loan has a repayment tenure of 21 years.

Sembcorp Green Infra, a wholly owned subsidiary of Singapore-based energy solutions company Sembcorp Industries, has signed a share purchase agreement with ReNew to acquire 100% of ReNew Sun Bright, its subsidiary, for approximately SGD246 million (~$190 million). ReNew Sun Bright’s 300 MW solar project in Fatehgarh, Rajasthan, commenced generation in November 2021.

Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, announced the acquisition of three ground-mounted solar projects in Florida from Origis Energy, a solar project developer. The acquired projects have a total capacity of 8.6 MW and are already generating and delivering power to a local utility through long-term power purchase agreements.

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.