From: Mercom Capital Group

Recurrent Energy, a global developer, owner, and operator of solar and energy storage and a subsidiary of Canadian Solar, announced the acquisition of a solar PV portfolio with more than 420 MW capacity in South Spain. The portfolio, located in Carmona, consists of a cluster of four projects, Rey I, II, III, and IV, which are under construction and will feature Canadian Solar’s TopBiHiKu7 N-type bifacial TOPCon technology modules.

Invenergy, a developer of renewable energy projects, has secured $1.27 billion in financing. The funding round of funding was led by Natixis Corporate and Investment Banking and is earmarked for the development and construction of Invenergy’s renewable energy initiatives located in Kansas and Texas. The four projects together represent a total capacity of 677MW.

Doral Renewables, a utility-scale renewable energy project developer, closed a construction debt facility for its Great Bend solar project. The company secured $114 million in financing from the sole lender, HSBC, for the project, which consists of a $36 million construction-to-term loan facility, a $57 million tax equity bridge loan, and a $21 million letter of credit facility.

Solarpack, a solar project developer, has secured a $176.6 million senior financing package for the 300 MW San Martin solar project in Peru. The financing has been secured from Crédit Agricole Corporate and Investment Bank, Natixis Corporate & Investment Baking, BBVA, and BNP Paribas using a project finance structure, being the first renewable project financed in Peru based on a power purchase agreement  between private parties.

Greenvolt, a solar and wind project developer, through its subsidiary Greenvolt Power, signed a €36 million (~$39.34 million) project finance with UniCredit Bank Hungary for the construction, operation, and maintenance of a 57 MW solar project in Hungary.

AXS Energia, a solar energy company, secured a $5 million senior debt facility from Triodos Emerging Markets Renewable Energy Fund and Triodos Groenfonds for the construction of 14 ground-mounted solar projects in Brazil with a combined capacity of 39.7 MW. CIFI Services is the lead arranger of this $54 million project.

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.