From: Mercom Capital Group

Mainstream Renewable Power, a solar and wind project developer, announced the financial closure of its 50 MW Ilikwa solar project in the Free State province of South Africa. The financial details of the transaction remained undisclosed. Construction has already begun on the project, and commercial operation is expected in early 2026. Once fully operational, the solar project is expected to produce 141 GWh of clean electricity annually, enough to power over 42,000 households.

Enerside, a Spain-based vertically integrated solar company, announced the sale of two Brazilian distributed-generation solar projects totaling 5 MW (6.6 MWp) to IVI ENERGIA, a Brazilian energy company owned by investment fund Brookfield Renovables. IVI ENERGIA acquired the projects at R$20.8 million (~$3.77 million), approximately €1.3 million/MW (~$235,936/MW) for the project in operation and €100,000/MW (~$18,148.9/MW) for the ready-to-build project.

BrightNight, an independent renewable energy power producer, announced the financial closure of a $260 million tax-equity financing commitment, including deferred contributions, for the development of 300 MW Box Canyon solar project, jointly owned with Cordelio Power in Arizona.The project is expected to become operational in the first half of 2025.

Aura Power, a Bristol-based renewable energy project developer, secured £30 million (~$39.28 million) in a project financing debt facility from Coöperatieve Rabobank to construct the 49.9 MW Kemble solar farm in the U.K. ib vogt will provide engineering, procurement, and construction services. Construction of the project is expected to begin in early 2025.

Enel Colombia, a subsidiary of Enel Group, an Italian multinational manufacturer and distributor of electricity and gas, secured a term loan in Colombian pesos equivalent to $300 million from the European Investment Bank in partnership with SACE, the Italian insurance and financial group owned by Italy’s Ministry of Economy and Finance. The funding will be used to develop the Guayepo I and II solar PV plants, with approximately 486 MW of total capacity, and to improve and expand the Enel Colombia distribution business.

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.