From: Mercom Capital Group

OX2, a solar and energy storage project developer, has entered into an agreement to sell a 119 MWac solar project in Victoria, Australia, to an undisclosed buyer. OX2 will manage the construction of the project on behalf of the buyer. The project is expected to be operational in 2027 and produce about 242 GWh of clean electricity annually, enough to power approximately 51,000 households in Australia.

Doral Renewables, a utility-scale renewable energy developer, announced closing a $285 million debt financing package to support the initial construction of the remaining phases of the Mammoth Solar complex in Northern Indiana. These phases consist of three ground-mounted, single-axis systems, each with a capacity of 300 MW, totaling 900 MW overall.

Arevon Energy, a solar and energy storage project developer, announced the financial closure of $299 million debt financing commitments for the 192 MWdc Ratts 1 solar and 73 MWdc (60 MWac) Heirloom solar projects. The projects are part of the Midwest and Midcontinent Independent System Operator territory, adding 264 MWdc capacity to Pike County, Indiana. Construction on the Ratts 1 and Heirloom solar projects began in August 2024, and both projects are expected to be in commercial operation by Q3 2025.

Q ENERGY, a solar, energy storage, and wind project developer, secured €50.4 million (~$55.68 million) in debt financing for the Les Ilots Blandin solar project development. The floating solar project spans over a former gravel pit in the Haute-Marne region of France and has a total capacity of 74.3 MW.

The Greenvolt Group, a solar and wind project developer, reached an agreement with Nuveen Infrastructure to sell a 153 MW solar project portfolio across various regions of Italy for €18.7 million (~$20.69 million). The portfolio comprises 19 projects that will be sold in phases and are expected to reach the ready-to-build stage between 2024 and 2025.

Independent power producer Sunsure Energy has secured ₹2.26 billion (~$26.92 million) in long-term debt financing from Tata Capital to bolster its portfolio of open access solar projects in Uttar Pradesh, India with a total operational capacity of 75 MW.

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.