From: Mercom Capital Group

Masdar (Abu Dhabi Future Energy Company), a UAE-based renewable energy developer, has reached financial close on a $5.1 billion financing package for a 5.2 GW solar and 19 GWh battery energy storage round-the-clock project in Abu Dhabi. The project represents a total capital investment of $6.1 billion, with Masdar contributing $1 billion in equity. It is being developed jointly by Masdar and Emirates Water and Electricity Company.

Velto Renewables, an independent renewable energy producer backed by La Caisse (formerly CDPQ), has completed a refinancing transaction of more than €800 million (~$914 million) for a portfolio of 76 operational solar photovoltaic projects in Spain with a combined installed capacity of 218 MWp. The refinancing covers assets operating under Spain’s Regulated Renewable Energy, Cogeneration and Waste framework.

Decarbonization solutions company ReNew and Japan’s Mitsui have inked a $730 million (~₹69.53 billion) multi-currency refinancing for its 320 MW round-the-clock renewable energy project in Tamil Nadu. Societe Generale Corporate and Investment Banking acted as structuring bank, original mandated lead arranger and bookrunner, and green loan coordinator.

Opdenergy, a global independent power producer, has secured $227 million in financing for its 371 MW operational renewable energy portfolio in Chile. The financing was provided by Sumitomo Mitsui Banking Corporation, BNP Paribas, and Instituto de Crédito Oficial. The transaction covers a portfolio including the 104 MW Sol de Los Andes solar project and the 90 MW/513 MWh Sol de Los Andes battery energy storage project. It also includes the 50 MW La Estrella wind farm and a 17 MW portfolio of solar projects.

Renewable energy solutions provider Serentica Renewables has secured a $345.1 million loan agreement to develop and refinance a 395.4 MW solar-wind hybrid power project in Koppal, Karnataka. The project comprises 191.4 MW of ground-mounted solar capacity and 204 MW of wind power capacity. It is being developed under a group captive model.

Renewable energy project developer Chint Solar Europe has signed an agreement to sell seven ready-to-build battery energy storage projects totaling 112 MW/332.5 MWh in Germany to Swedish energy technology company Flower Infrastructure Technologies. The individual projects will range in capacity from 6 MW to 48 MW and provide storage durations of three to four hours. The projects will be located across seven municipalities in Thuringia, Lower Saxony, Saxony-Anhalt, Saxony, and Hesse.

For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.

Read last week’s project finance brief.