Himachal Pradesh Invites Bids for 8 MW Solar Projects

Center and States Must Align Better for Accelerated Solar Open Access Growth

Daily News Wrap-Up: Corporate Funding in the Solar Sector Dropped 24% YoY in 2024

Project Finance Brief: Emeren Sells 65 MW Solar Portfolio in Germany

Funding and M&A Roundup: Moment Energy Secures $15 Million

POWERGRID Invites Bids for 1.07 MW Rooftop Solar Project at NIT Durgapur

Adani Bags $2.89 Billion 6 GW Renewable Energy Transmission Project

NHPC Invites Bids for 125 MW/500 MWh Standalone BESS

Germany Adds 16.2 GW of Solar Capacity in 2024, Sets New Record

REIL Floats Rate Contract Tender for 17.55 MW Rooftop Solar Projects


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-contourglobal-acquires-solar-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>ContourGlobal, a renewable energy power generation company, has </strong><a href="https://mercomcapital.com/contourglobal-acquires-888-mw-hybrid-solar-plus-storage-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of an advanced-stage solar-plus-storage project</strong> with a total capacity of 888 MW. The project will be developed in two phases, featuring 567 MWp of solar capacity and 321 MW/1.3 GWh of battery energy storage. Once operational, the project will provide clean electricity to customers in WECC-Southwest, Arizona, and CAISO, California.</p>
<p><strong>Aypa Power, a Blackstone portfolio company that develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects</strong>, <strong>announced the </strong><a href="https://mercomcapital.com/aypa-power-secures-190-million-financing-for-battery-storage-project/" target="_blank" rel="noopener"><strong>closing</strong></a> of a $190 million financing facility for the 200 MW/400 MWh Bypass battery energy storage system project located in Fort Bend County, near Houston, Texas.</p>
<p><strong>SolarBank, a distributed and community solar project developer, <a href="https://mercomcapital.com/solarbank-sells-four-solar-projects-for-around-50-million/" target="_blank" rel="noopener">announced</a> that Qcells, a solar cell and module manufacturer, through an affiliate, has signed an acquisition agreement</strong> with the company to acquire four ground-mounted solar projects totaling 25.577 MW in upstate New York. The sale of the projects, along with an engineering, procurement, and construction agreement, is valued at approximately $49.5 million.</p>
<p><strong>Blue Elephant Energy, a Hamburg-based solar and wind project developer, </strong><a href="https://mercomcapital.com/blue-elephant-energy-acquires-88-mw-solar-project-portfolio/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of an 88 MWp solar project portfolio</strong> spread across the Netherlands from TPSolar, a solar and battery storage project developer in the Netherlands. The portfolio consists of three solar projects, which are currently in different stages of development. Of the three, the largest solar project, with 50 MWp capacity, located in the north-east of the country, is scheduled for commissioning in time for the turn of the year 2025-26.</p>
<p><strong>EDP Renováveis (EDPR), a renewable energy power producer, announced the signing of a sale and purchase </strong><a href="https://mercomcapital.com/edpr-sells-49-stake-in-solar-portfolio-and-storage-project/" target="_blank" rel="noopener"><strong>agreement</strong></a><strong> with a global energy company to sell </strong>a 49% equity stake of class B shares in an operational solar portfolio comprising two projects totaling 300 MWac (406 MWdc) and a 92 MW electricity storage project. The projects are in California. The two solar projects were commissioned in the fourth quarter of 2024. The storage project is currently under construction and expected to reach commercial operation in the fourth quarter of 2025.</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-enlight-secures-financing-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: ContourGlobal Acquires 888 MW Solar Plus Storage 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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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-energy-storage-firm-aypa-power-secures-320-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Aypa Power, a developer, owner, and operator of energy storage and hybrid generation assets</strong><strong> has <a href="https://mercomcapital.com/energy-storage-developer-aypa-power-credit-facility/" target="_blank" rel="noopener">secured</a> a corporate credit facility worth $320 million</strong>. The credit facility includes a $250 million letter of credit and a $70 million revolving credit, providing Aypa with development capital and credit support for securing agreements related to power purchases, revenue contracts, and interconnection. The facility was arranged by Banco Santander, Investec, and Nomura as Coordinating Lead Arrangers and Joint Bookrunners.</p>
<p><strong>U.S.-based Hecate Energy, a developer of renewable projects and provider of energy storage solutions, </strong><a href="https://mercomcapital.com/hecate-energy-secures-support-renewables-expansion/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a five-year $550 million credit facility</strong> package, including a $250 million term loan and $300 million Letter of Credit facility. The credit facility will support Hecate’s plans to expand its solar and energy storage project pipeline.</p>
<p><strong>Otovo, a Norway-based residential solar installer, has <a href="https://mercomcapital.com/residential-solar-installer-otovo-funding/" target="_blank" rel="noopener">raised</a> up to €120 million (~$130.4 million) through a combination of debt and equity financing.</strong> The debt component of the funding comes from DNB Bank and Sparebank 1 SR-bank, providing €50 million (~54 million) and €50 million (~$54 million) in committed and uncommitted accordion debt financing, respectively. The funding is expected to allow the construction of 12,500 solar subscription assets. A €20 million (~$21.4 million) fully guaranteed equity issue was raised through a private placement by the company&#8217;s largest shareholder, AxSol AB, at a price of €1.85 (~$2) per share.</p>
<p><strong>Pune-based solar cold storage solutions provider Ecozen has </strong><a href="https://mercomindia.com/solar-cold-storage-ecozen-25-million-for-energy-transition/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $25 million in equity and debt capital in its series C round</strong> as it looks beyond agriculture to expand into new climate deep-technology fields. The company is looking to accelerate the broader energy transition through its deep-tech expertise in energy storage, motor controls, and analytics. Nuveen and Dare Ventures led the Series C equity portion.</p>
<p><strong>AMPECO, a software platform for electric vehicle charging providers, raised a total of $16 million in venture capital investment after </strong><a href="https://mercomcapital.com/ev-charging-software-provider-ampeco-raises-16-million/" target="_blank" rel="noopener"><strong>closing</strong></a><strong> a Series A funding round of $13 million</strong> led by BMW i Ventures. The funding will be used to expand further into the North American market with on-site local teams there and in the UK, France, and Germany. The round also included investments from Launchub Ventures and Cavalry Ventures, who had recently participated in AMPECO’s $3 million seed round.</p>
<p><strong>SolarArise, a Delhi-based solar developer, has announced the completion of its </strong><a href="https://mercomindia.com/london-based-thomas-lloyd-trust-acquires-solararise/" target="_blank" rel="noopener"><strong>acquisition</strong></a><strong> by Thomas Lloyd Energy Impact Trust, an investment fund listed on the London Stock Exchange.</strong> SolarArise has eight solar power projects with a total capacity of 400 MW across Madhya Pradesh, Maharashtra, Uttar Pradesh, Karnataka, and Telangana. SolarArise’s operating revenues are generated under fixed-price, long-term power purchase agreements. Last June, Thomas Lloyd Impact Trust acquired the remaining 57% interest in SolarArise India Projects for a cash consideration of $38.5 million.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomindia.com/funding-ma-roundup-sunroof-raises-30-8-million/funding-and-ma-roundup-sunroof-raises-30-8-million-to-fund-expansion-plans/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Energy Storage Firm Aypa Power Secures $320 Million Debt Funding

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