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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ib-vogt-solar-project-spain-2/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>ib vogt, a solar and energy storage project developer, </strong><a href="https://mercomcapital.com/ib-vogt-sells-110-mw-solar-project-in-spain/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of its 110 MW Pato solar project in Spain to NextPower V ESG</strong>, an OECD Fund of NextEnergy Capital. Construction of the solar project began in March 2024. The solar project is expected to be commercially operational in the first quarter of 2025 and has a signed power purchase agreement with an industrial innovator.</p>
<p><strong>Alight, an independent solar power producer, announced the financial </strong><a href="https://mercomcapital.com/alight-secures-123-million-debt-financing-for-solar-projects-in-sweden/" target="_blank" rel="noopener"><strong>closure</strong></a><strong> of €110 million (~$122.56 million) senior debt portfolio financing with the Dutch lender Rabobank</strong>. The funding will be used to build, own, and operate small to medium solar projects (up to 50 MW) with a combined capacity of about 220 MW in Sweden.</p>
<p><strong>The European Investment Bank (EIB) and BNZ, a solar project developer owned by Nuveen Infrastructure, </strong><a href="https://mercomcapital.com/bnz-secures-185-million-green-loan-for-solar-project-portfolio/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the signing of a €166 million (~$184.68 million) green loan</strong> to support the development of 17 new solar projects with a combined capacity of more than 700 MW located across Spain, Italy, and Portugal.</p>
<p><strong>Sonnedix, an independent solar power producer, announced the </strong><a href="https://mercomcapital.com/sonnedix-acquires-80-mw-solar-project-in-italy/" target="_blank" rel="noopener"><strong>acquisition</strong></a><strong> of an 80 MW solar project in Sicily, Italy, from Blunova</strong>, a renewable energy project developer and the sub-holding of Carlo Maresca Group. Following the acquisition, the company will acquire ten operating plants totaling 250 MW from Blunova in Southern Italy.</p>
<p><strong>Arevon Energy, a solar and energy storage project developer, </strong><a href="https://mercomcapital.com/arevon-secures-351-million-financing-for-251-mw-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the closing of $351 million financing to build the 251 MWdc Gibson Solar Project</strong>, located in Gibson County, Indiana. Construction on the Gibson solar project began last month. The funding consisted of a construction loan from CoBank, Societe Generale, and PNC Bank, along with a letter of credit facility provided by CoBank.</p>
<p><strong>Zelestra (formerly Solarpack), a renewable energy project developer, has </strong><a href="https://www.mercomindia.com/zelestra-closes-146-million-financing-for-453-mw-solar-project-in-rajasthan" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a financing package of €132 million (~$146 million) for a 453 MW solar PV project</strong> in Gorbea, Rajasthan. The project will supply power to the Solar Energy Corporation of India for 25 years. The financing was signed with HSBC, Credit Agricole, MUFG, and Bank of America.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-atlas-secures-financing-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: ib vogt Sells 110 MW Solar Project in Spain


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ox2-sells-solar-project-australia/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>OX2, a solar and energy storage project developer, has </strong><a href="https://mercomcapital.com/ox2-sells-119-mw-solar-project-in-australia/" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into an agreement to sell a 119 MWac solar project in Victoria</strong>, 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.</p>
<p><strong>Doral Renewables, a utility-scale renewable energy developer, </strong><a href="https://mercomcapital.com/doral-renewables-secures-debt-financing-mammoth-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> closing a $285 million debt financing package to support the initial construction</strong> 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.</p>
<p><strong>Arevon Energy, a solar and energy storage project developer, </strong><a href="https://mercomcapital.com/arevon-energy-secures-299-million-financing-for-solar-projects-in-indiana/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the financial closure of $299 million debt financing commitments</strong> 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.</p>
<p><strong>Q ENERGY, a solar, energy storage, and wind project developer, </strong><a href="https://mercomcapital.com/q-energy-secures-56-million-debt-financing-for-floating-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €50.4 million (~$55.68 million) in debt financing for the Les Ilots Blandin solar project development</strong>. 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.</p>
<p><strong>The Greenvolt Group, a solar and wind project developer, </strong><a href="https://mercomcapital.com/greenvolt-sells-153-mw-solar-project-portfolio-in-italy/" target="_blank" rel="noopener"><strong>reached</strong></a><strong> an agreement with Nuveen Infrastructure to sell a 153 MW solar project portfolio</strong> 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.</p>
<p><strong>Independent power producer Sunsure Energy has </strong><a href="https://www.mercomindia.com/sunsure-2-billion-tata-capital" target="_blank" rel="noopener"><strong>secured</strong></a><strong> ₹2.26 billion (~$26.92 million) in long-term debt financing</strong> from Tata Capital to bolster its portfolio of open access solar projects in Uttar Pradesh, India with a total operational capacity of 75 MW.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-swift-current-energy-secures-financing-for-800-mw-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: OX2 Sells 119 MW Solar Project in Australia


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-arevon-secures-posey-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Arevon Energy, a solar and storage project developer, has </strong><a href="https://mercomcapital.com/arevon-energy-secures-352-million-financing-for-posey-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $352 million in financing for the construction and development of 228 MW of the Posey Solar Project</strong> in Posey County, Indiana. The project is expected to be operational in Q1 2025 and will generate enough clean electricity to power the equivalent of more than 25,000 homes annually.</p>
<p><strong>Citicore Renewable Energy Corporation, a renewable energy developer, </strong><a href="https://mercomcapital.com/citicore-renewables-secures-financing-for-solar-projects-in-the-philippines/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> PhP9 (~$0.159) billion in financing for multiple solar projects with a total installed generating </strong>capacity of at least 600 MWdc and expandable up to nearly 1 GW. The financing deal, arranged by RCBC Capital Corporation, is expected to raise up to PhP20 billion ($354 million), starting with the signing of an initial tranche of PhP9 billion (~$159 million). The structure covers various project portfolios instead of the typical per-project financing structure.</p>
<p><strong>PNE, a Germany-based renewable energy project developer, </strong><a href="https://mercomcapital.com/pne-sells-240-mw-solar-project-in-south-africa/" target="_blank" rel="noopener"><strong>sold</strong></a><strong> a 240 MW under-construction solar power project to the South African energy company NOA Group</strong>. The Khauta Project will be constructed in the Free State province in central South Africa. The project is expected to reach the fully developed phase by mid-2024. The project is in a region with strong mining and agricultural sectors. PNE will continue to support the project through WKN Windcurrent, which belongs to the PNE Group.</p>
<p><strong>Luxcara, a clean energy infrastructure asset manager, along with Munich-based bank Bayerische Landesbank, has </strong><a href="https://mercomcapital.com/luxcara-secures-financial-close-for-315-7-mw-solar-portfolio/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> financial close for solar PV portfolio</strong> projects with a total installed capacity of 315.7 MW located in Denmark. The Danish portfolio comprises three large-scale projects, one in the region of Jutland and two in Zealand. The three solar projects – Barmosen (137.3 MW), Faxe (111.6 MW), and Vildbjerg (66.7 MW) – were operationalized in late 2022 and were fully connected to the grid in 2023.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-ox2-sells-energy-storage-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Arevon Secures $352 Million for Posey Solar Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-emeren-sells-energy-storage-portfolio/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Emeren, a solar project developer, owner, and operator, </strong><a href="https://mercomcapital.com/emeren-group-sells-battery-energy-storage-portfolio/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of a 410 MW energy storage portfolio comprising five battery energy storage projects </strong>in Italy to Matrix Renewables. The five projects consist of standalone storage systems with a cumulative capacity of 3,787 MWh. The entire portfolio is strategically located in the Italian southern region of Apulia. The Ready-To-Build status is expected to be achieved by late 2024.</p>
<p><strong>Arevon Energy, a solar and storage project developer, </strong><a href="https://mercomcapital.com/arevon-energy-secures-vikings-solar-and-storage-project/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> the financing on the Vikings solar-plus-storage project with a combination of debt financing and tax credit transfer</strong>. The company secured a commitment with J.P. Morgan to purchase $191 million in investment tax credits and production tax credits leveraging the Inflation Reduction Act’s transferability provision. The Viking project is located in Imperial County, California, consisting of 157 MW of solar coupled with 150 MW/ 600 MWh of energy storage project. Arevon also secured an additional $338 million debt facility.</p>
<p><strong>Soltec, a single-axis solar tracker firm, has <a href="https://mercomcapital.com/soltec-secures-project-financing-solar-project-spain/" target="_blank" rel="noopener">secured</a> €3.6 million (~$3.8 million) in project finance, with an additional €550,000 (~$589,520) from local communities </strong>to construct a 5.6 MW solar project in Spain. The financing includes senior debt financing combined with investment from local communities in the same project through a crowdfunding platform for constructing the Totana IV photovoltaic solar project.</p>
<p><strong>Aypa Power, a Blackstone portfolio company that develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects</strong>, <a href="https://mercomcapital.com/aypa-power-secures-financing-for-energy-storage-projects/" target="_blank" rel="noopener"><strong>secured</strong></a> $550 million in debt and tax equity financing for energy storage projects. The First Citizens Bank &amp; Trust Company, Nomura Securities International, National Bank of Canada, and MUFG Bank served as lenders, and U.S. Bancorp Impact Finance as the portfolio’s tax equity investor.</p>
<p><strong>esVolta, LP, a developer, owner, and operator of utility-scale energy storage projects in North America, </strong><a href="https://www.businesswire.com/news/home/20231109094937/en/esVolta-Secures-Tax-Equity-Investment-from-U.S.-Bank-for-Energy-Storage-Project-in-California" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it has closed a tax equity investment</strong> with U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, to finance its Santa Paula Energy Storage project. The new tax equity financing will support the completion of a 30 MW / 60 MWh battery project currently under construction about 60 miles northwest of Los Angeles.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-hive-energy-sells-solar-projects/" target="_blank" rel="noopener">brief</a>.</p>


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