From: Mercom Capital Group

OX2, a solar and energy storage project developer, reached an agreement to sell the 42.5 MW/ 42.5 MWh Bredhälla energy storage project in Sweden to Flower, an energy technology and energy storage solutions provider. OX2 started construction of the project in late 2022, which is located in the municipality of Uppvidinge in southern Sweden. The facility consists of batteries utilizing lithium-ion technology.

Ib vogt, a developer of solar and storage projects, has secured €60 million (~$65.1 million) in project funding to build and operate a 95.18 MW solar project in Spain. Banco Santander, a Madrid-based multinational financial services company, provided the funding. Clifford Chance, a London-based multinational law firm, advised Ib vogt on the project financing. The company will use the funds to construct, operate, and maintain the solar project, which will be built in the Segovia province in the Castile and Leon region of Spain.

RWE, a German power generation company, and PPC, a Greece-based utility company, have signed loan agreements with Alpha Bank, Eurobank, and National Bank of Greece for the construction of a portfolio of solar projects with a total capacity of 730 MWp (691 MWac) in Amyntaio, Western Macedonia, with contribution from Recovery and Resilience Fund. The projects will be developed by METON Energy, a joint venture of RWE Renewables Europe & Australia (51%) and PPC Renewables (49%), subsidiaries of RWE and PPC, respectively.

DWS, an asset manager, has announced the acquisition of three solar projects in Spain totaling 147 MW from X-ELIO, a company specializing in developing, constructing, financing, and operating solar projects. The three projects are located in Medina de las Torres, Badajoz, and started operations in mid-2023. The three plants will generate an average estimated supply of renewable energy to the equivalent of 91,800 households per year.

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.