From: Mercom Capital Group

Lightsource bp, a solar project developer, announced the sale of the 49.9 MWac Tiln Farm solar and co-located 25 MW/50 MWh (two-hour duration) energy storage project to Schroders Greencoat, an investment manager dedicated to renewable infrastructure. The Tiln Farm project is located near Retford in Nottinghamshire, UK. The project began construction in 2022.

Enfinity Global, a U.S.-based renewable energy project developer, announced the financial close of €500 million (~$558.73 million), which will support the development and construction of around 1.5 GW of solar projects in Italy. The funding has been provided through a club deal structure in partnership with several investors, including Infranity, Schroders Capital, Rivage, BNP Paribas Asset Management, and QIC (Queensland Investment Corporation).

Clearway Energy Group, a developer and operator of clean energy projects, closed $550 million in financing for developing its Rosamond South I solar and storage project in Kern County, California. Upon completion, the solar portion will have a total capacity of 140 MW, and the storage capacity will be 118 MW.  The company has started constructing the Rosamond South I project and is expected to reach commercial operations in 2025.

Sun Investment Group, a solar project developer and investment management company, secured a €16 million (~$17.87 million) construction bridge financing facility from an international debt fund. The funding will support the development of a portfolio of solar projects totaling 29 MW across Poland.

Sunly, a renewable energy power producer, secured €300 million ($335.15 million) financing from Scandinavian and French investors for developing 1.3 GW of solar, wind, storage, and hybrid projects. The funding will support the development of large-scale hybrid projects across the Baltics and Poland. The investors include Rivage Investment, which operates in France through a fund dedicated to solutions to climate problems; Copenhagen Infrastructure Partners through the Green Credit I fund; and Norway pension fund, KLP.

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.