From: Mercom Capital Group

Renewable energy developer Zelestra has secured $350 million in green financing for its 203 MW Reclamation Solar project in Gibson County, Indiana. Canadian Imperial Bank of Commerce (CIBC), BBVA, and Societe Generale provided the financing. The project is backed by a long-term power purchase agreement with Meta and is expected to become operational by the end of 2027. The Reclamation Solar project is under construction on land previously used for coal mining operations in southwestern Indiana. It is expected to support approximately 200 jobs during peak construction.

PetroGreen Energy Corporation (PGEC), the renewable energy arm of publicly listed PetroEnergy Resources Corporation, through its subsidiaries Rizal Green Energy Corporation (RGEC) and BKS Green Energy (BKS), has signed an Omnibus Loan and Security Agreement with Rizal Commercial Banking Corporation (RCBC) for a project finance facility of up to ₱1.24 billion (~19.7 million). The facility will partially finance BKS’s approximately 40 MWDC/33 MWAC ground-mounted Limbauan Solar Power Project in San Pablo, Isabela, the Philippines.

Actis, a growth market investor in sustainable infrastructure, has acquired a 112 MW/518 MWh battery energy storage project in Kozienice, Poland, from DRI. The Company has also signed an agreement to acquire another 132 MW/623 MWh project in Trzebinia, Poland. The Kozienice project is ready for construction, while Actis expects to complete the Trzebinia acquisition once the project becomes operational. The two projects have a combined capacity of 244 MW/1,141 MWh, with storage durations exceeding four hours. Both have secured 17-year inflation-indexed capacity market contracts.

Vikran Engineering’s wholly owned subsidiary, NOPL Solar Projects, has secured a loan of up to ₹29.41 billion (~$307.36 million) from the Indian Renewable Energy Development Agency (IREDA). NOPL plans to use the loan to finance part of the 969 MW solar power project being developed under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 program, at 152 locations across Maharashtra, with an estimated project cost of ₹42.02 billion (~$439.08 million).

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.