From: Mercom Capital Group

Green Hedge Infra, a developer of utility-scale battery energy storage projects, has completed the sale of its first ready-to-build battery storage project in Germany to Econergy, an independent power producer specializing in renewable energy. The 100 MW project, which is currently under construction, is located on mixed industrial land near Senftenberg in the Brandenburg region, and is expected to provide up to four hours of storage capacity.

Enlight Renewable Energy, a renewable energy project developer, announced that its U.S. subsidiary Clēnera Holdings has closed two tax equity partnership agreements representing $340 million for its Roadrunner solar and energy storage project located near Tucson in Arizona.

Ares Management Corporation, an investment manager, announced that a fund managed by the Ares Infrastructure Opportunities strategy has acquired a 49% stake in a portfolio of assets from EDP Renováveis, a developer, owner, and operator of renewable energy infrastructure. The portfolio’s total enterprise value is estimated at around $2.9 billion. The diversified portfolio comprises 10 assets totaling 1,632 MW, of which 1,030 MW is solar, 402 MW is wind, and 200 MW is storage, across four U.S. power markets. All projects have long-term Power Purchase Agreements, with an average remaining contract duration of 18 years.

Varco Energy, a U.K.-based battery storage asset owner and operator, has announced the acquisition of the 100 MW Old Allen Road Battery Energy Storage System (BESS), also known as Bradford West 2, in West Yorkshire. The 100 MW grid-scale facility in West Yorkshire is designed to deliver essential flexibility and grid-balancing services to the U.K. electricity network. Evolution Infrastructure acted as Financial Advisor on the sale of the Old Allen Road Battery Energy Storage System to Varco Energy.

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.