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From: Mercom Capital Group
Sonnedix, an independent power producer, acquired 262 MW solar PV projects in Portugal. The portfolio comprises seven ground-mounted projects either under construction or late-stage development throughout the country. The financial details of the deal have not been disclosed.
Singapore-based renewable energy company Sembcorp Industries will acquire three solar projects with a combined capacity of 795 MW in China for RMB 1.16 billion ($165 million). The acquisition value includes an initial consideration of approximately RMB15 million (~$2.12 million) and a future capital injection of up to RMB1.14 billion (~$163.01 million). Sembcorp’s 49%-owned joint venture – Beijing Energy Sembcorp (Hainan) International Renewables – will buy the assets from BEI Energy Development Company (Beijing). The solar assets are in the south of Hebei Province and are contracted to the State Grid Corporation of China.
DSD Renewables – a customized solar PV energy and energy storage solutions provider – secured a $40 million tax equity investment from U.S. Bank to finance a 45 MW portfolio consisting of a diverse mix of community solar, power purchase agreement (PPA), and feed-in-tariff projects. Most projects are in New York, with the remaining located across Connecticut, Maine, Maryland, Minnesota, New Jersey, and Virginia.
Brazilian lender Banco do Nordeste do Brasil (BNB) has approved a BRL429 million (~$80.2 million) loan to support the construction of the 213 MW Caldeirao 2 (CG2) solar project in northeast Brazil. The bank’s Financing of the Northeast (FNE) credit line provided the financing to local developer Grupo Ibitu Energias Renovaveis.
The European Bank for Reconstruction and Development (EBRD) has provided $5.5 million to the renewable energy subsidiary of Egyptian energy company TAQA Arabia to build and operate a 7 MW solar PV project in El Minya, Egypt. The funding comprises a $4.95 million loan from the EBRD and a $550,000 concessional loan from the Global Environment Facility (GEF). The project will sell all its electrical output to ASCOM Carbonate and Chemical Manufacturing (ACCM) under a 25-year power purchase agreement.
State Bank of India (SBI) has signed an agreement with Kreditanstalt für Wiederaufbau (KfW) to receive a low-interest loan of €150 million (~$150.66 million) to finance solar projects in India. The loan will primarily fund innovative technologies, such as automated dry cleaning of solar modules to reduce water consumption.
Sonnedix, an independent power producer, announced the acquisition of a 36 MW Solar project located in Herencia, Ciudad Real, Spain, from Impax Asset Management, which had earlier acquired the project rights in 2019.
For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.
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