From: Mercom Capital Group

ib vogt, a solar and energy storage project developer, announced the sale of its 110 MW Pato solar project in Spain to NextPower V ESG, an OECD Fund of NextEnergy Capital. Construction of the solar project began in March 2024. The solar project is expected to be commercially operational in the first quarter of 2025 and has a signed power purchase agreement with an industrial innovator.

Alight, an independent solar power producer, announced the financial closure of €110 million (~$122.56 million) senior debt portfolio financing with the Dutch lender Rabobank. The funding will be used to build, own, and operate small to medium solar projects (up to 50 MW) with a combined capacity of about 220 MW in Sweden.

The European Investment Bank (EIB) and BNZ, a solar project developer owned by Nuveen Infrastructure, announced the signing of a €166 million (~$184.68 million) green loan to support the development of 17 new solar projects with a combined capacity of more than 700 MW located across Spain, Italy, and Portugal.

Sonnedix, an independent solar power producer, announced the acquisition of an 80 MW solar project in Sicily, Italy, from Blunova, a renewable energy project developer and the sub-holding of Carlo Maresca Group. Following the acquisition, the company will acquire ten operating plants totaling 250 MW from Blunova in Southern Italy.

Arevon Energy, a solar and energy storage project developer, announced the closing of $351 million financing to build the 251 MWdc Gibson Solar Project, located in Gibson County, Indiana. Construction on the Gibson solar project began last month. The funding consisted of a construction loan from CoBank, Societe Generale, and PNC Bank, along with a letter of credit facility provided by CoBank.

Zelestra (formerly Solarpack), a renewable energy project developer, has closed a financing package of €132 million (~$146 million) for a 453 MW solar PV project in Gorbea, Rajasthan. The project will supply power to the Solar Energy Corporation of India for 25 years. The financing was signed with HSBC, Credit Agricole, MUFG, and Bank of America.

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.