From: Mercom Capital Group

Grenergy, a renewable energy company, secured €98.8 million (~$116.26 million) senior non-recourse financing for the 172 MW Ayora solar project. The financing also includes a €13.6 million (~$15.97 million) line of credit loan. The project is located in Valencia, Spain. Banco Santander has fully underwritten the transaction. The project’s construction is complete and is now in the commissioning phase. The project has a 15-year power purchase agreement.

Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, announced the acquisition of a 234 MW portfolio of solar and storage projects from Greenbacker, a renewable energy investment firm.

Orrön Energy, an independent renewable energy company, has entered into an agreement with Gülermak Renewables Deutschland Holding, a subsidiary of Gülermak Renewables, to sell 234 MW of solar projects in Germany for a total consideration of up to MEUR 14 (~$16 million). The portfolio consists of three solar projects.

PowerBank, an independent renewable energy power producer specializing in distributed solar and battery energy storage system projects, has announced the sale of its Elmira, Jordan Road 1, and Jordan Road 2 solar projects with a combined capacity of 16.87 MW. Solar Advocate Development acquired the projects for the total consideration of $41 million.

ACME Solar Holdings has secured a debt tie-up of ₹47.2 billion (~$519.2 million) from Indian financial institutions to fund the construction of renewable energy projects and optimize its capital structure by reducing financing costs. Out of the total amount, ₹27.1 billion (~$298.1 million) has been secured from Power Finance Corporation for ACME’s 300 MW firm and dispatchable energy project that combines renewables with four hours of battery energy storage.

CleanCapital, an independent power producer focused on distributed clean energy, including solar and energy storage, announced the completion of a $185 million private placement debt. The debt facility will be used to finance a portfolio of 156 distributed generation projects totaling more than 180 MW, spanning solar and energy storage assets across the U.S.

Avantus, a developer of utility-scale solar and solar-plus-storage projects, secured $300 million tax equity financing from Truist Bank to support the development of the Aratina 1 utility-scale solar and storage project in Kern County, California.

BayWa r.e., a renewable energy project developer, along with its Dutch subsidiary GroenLeven, announced the completion of the sale of a 46 MW floating solar project in Friesland, the Netherlands. The project’s rights have been transferred to the local energy cooperative Enerzjyk Skûlenboarch, the municipality Tytsjerksteradiel, and the Friesland Clean Energy Fund.

Pivot Energy, a renewable energy provider and independent power producer, announced three financing agreements totaling $225 million. The three financing agreements include a $170 million upsized existing construction warehouse facility with ATLAS and First Citizens Bank providing the funding to support the development of a new portfolio of approximately 60 community solar projects totaling 225 MW in Illinois, Colorado, Maryland, Virginia, New York, Pennsylvania, Delaware, Michigan, and California.

ib vogt, a solar and energy storage project developer, announced the sale of the 95.18 MW Baobab solar project in Segovia, Spain, to EOS NER Solar España, a subsidiary of EOS NER, an independent power producer wholly owned by EOS Holding.

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.