From: Mercom Capital Group

Jupiter Power, an energy storage project developer, secured a $70.4 million construction and term loan financing facility for two standalone battery energy storage projects in Texas, totaling 160 MW/ 320 MWh. Through its Energy Finance group, First Citizens acted as Coordinating Lead Arranger on the construction and term loan financing facility for the standalone battery energy storage system projects. BankUnited, and Siemens Financial Services were Joint Lead Arrangers.

Modus Asset Management, a Lithuania-based renewables investor through its Clean Energy Infrastructure Fund, and Evecon, a solar and wind project developer, have entered into a transaction whereby the latter will acquire a 100% stake in a 55 MW solar PV portfolio of ground-mounted solar photovoltaic projects in Latvia. The portfolio is developed by Evecon SIA and consists of 10 projects located around Latvia and equipped with bifacial solar panels.

Greenvolt, a solar and wind project developer, reached an agreement with Energa Wytwarzanie for the sale of a portfolio comprising two renewable energy projects in Poland for €107 million (~$118.26 million). The agreement comprises the Opalenica project, which consists of three solar parks with a total capacity of 22 MW, and the Sompolno project, the first licensed hybrid project in Poland, with an installed capacity of 26 MW of wind and 10 MW of solar that will complement each other to deliver even more energy with maximum efficiency.

Opdenergy, an independent solar and wind power producer, signed a financing agreement with Banco Santander for the development and commissioning of five photovoltaic projects totaling 216 MW, for€128 million (~$141.59 million) in Spain. This operation includes the financing of the “Brovales” project, which consists of three photovoltaic plants: Brovales I (55 MW), Brovales II (55 MW) and Brovales III of 21 MW, all located in the province of Badajoz (Spain) and whose financing will amount to €72.7 million (~$80.42 million), and on the other hand, the photovoltaic plants of Capillas (56 MW) and Mulas (29 MW), both located in Zamora (Spain), whose financing will amount to €55.3 million (~$61.17 million).

Abu Dhabi Future Energy Company Masdar has completed its inaugural green bond issuance, raising $750 million by issuing 10-year senior unsecured notes. The offering received interest from both regional and international investors, resulting in an oversubscription of 5.6 times the initial offering size, with the order book peaking at $4.2 billion. The proceeds from the bond offerings will be directed to support green projects in the renewable energy sector, including solar, wind, renewable power transmission and distribution infrastructure, and battery storage assets.

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.