From: Mercom Capital Group

Greenbacker, an independent power producer and energy transition-focused investment manager, secured $440 million in tax equity financing from the U.S. Bank and M&T Bank for the 674 MWdc/500 MWac Cider solar project located in Genesee County, New York. The project is expected to reach commercial operation in late 2026. Once completed, the project is expected to be the largest solar project in New York.

Grenergy, a renewable energy company, closed a $355 million senior non-recourse financing agreement for its Gran Teno, Tamango, and Planchón projects, which together contribute 398 MW of solar capacity and 1.4 GWh of battery energy storage capacity to the Central Oasis platform in Chile.

Eolus, a renewable energy project developer, closed the sale of the 127 MW/506 MWh Roccasecca stand-alone battery energy storage project located in Boulder City, Nevada. The transaction was completed as an all-cash sale to a large U.S. independent power producer with more than 12 GW of aggregate capacity. Construction of the project began in the fourth quarter of last year and is expected to start commercial operation in 2026.

European Energy, a renewable energy project developer, has completed a long-term financing of €64.5 million (~$77 million) for the Kvosted hybrid solar and battery energy storage project in Viborg Municipality, Denmark. Ringkjøbing Landbobank and the Nordic Investment Bank provided the financing, comprising a senior debt structure, with support from the EU’s InvestEU program.

SolarAfrica, a South Africa-based solar energy company, secured financial close on R1.5 billion (~$94 million) for the development and construction of the 114 MW SunCentral 2 utility-scale solar project in the Northern Cape. RMB and Investec Bank provided the funding, which will help boost access to affordable clean energy for South African businesses.

Alight, a solar developer and independent power producer, acquired two solar projects with a combined capacity of more than 200 MW located in eastern Finland from the Finnish project developer 3Flash. Both projects, one with about 75 MW and the other with 150 MW, are located in eastern Finland.

Bestinver, Acciona’s asset management arm, has sold a portfolio of solar projects with a total installed capacity of 91 MW in Spain to Zurich-based IST3 Infrastruktur Global, an infrastructure investment vehicle backed by Swiss pension funds. The total enterprise value of the transaction exceeds €330 million (~$392 million). IST3 Infrastruktur Global carried out the transaction through its holding company, Terralys Renovables.

For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.

Read last week’s project finance brief.