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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>


Project Finance Brief: Emeren Sells 3.8 GWh Battery Energy Storage Portfolio

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