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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-origis-secures-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Origis Energy, a vertically integrated renewable energy platform and solar project developer, </strong><a href="https://mercomcapital.com/origis-energy-secures-project-financing-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $136 million construction financing facility</strong> and conversion to a term loan with MUFG to develop a 75 MW Rice Creek Solar project in Florida. The project is currently under construction. The Rice Creek Solar, located in Putnam County, is a PV solar project contracted by the Florida Municipal Power Agency for its members.</p>
<p><strong>BRUC, a Spain-based renewable energy company that owns and operates solar and wind projects, </strong><a href="https://mercomcapital.com/bruc-secures-financing-of-solar-projects-in-spain/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €570 million (~$608.44 million) in financing</strong> for the construction of 842 MW of solar projects. The financing agreement was closed with Santander, ING, BNP Paribas, Crédit Agricole CIB, Sabadell, BBVA, and Unicaja. The financing is classified as a “green loan.” Banco Santander acted as financial advisor, hedge coordinator, and green loan coordinator.</p>
<p><strong>Nova Clean Energy, a solar and wind project developer, </strong><a href="https://www.businesswire.com/news/home/20240416489174/en/Nova-Clean-Energy-Closes-Acquisition-of-1-Gigawatt-Wind-and-Solar-Development-Asset-Portfolio-from-BNB-Renewables" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of HyFuels, a more than 1 GW portfolio of mid-to-late-stage wind and solar development projects</strong>, and an early-stage green ammonia project from BNB Renewable Energy. The project is located on the Texas Gulf Coast. The first phase of the project is expected to reach full notice to proceed in 2025 and Commercial Operations in 2026.</p>
<p><strong>Recurrent Energy, a solar project developer and a wholly-owned subsidiary of Canadian Solar, </strong><a href="https://mercomcapital.com/recurrent-energy-secures-financing-solar-project-brazil/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> 343 million Brazilian Reais (~$70 million) of non-recourse project financing</strong> from Banco do Nordeste do Brasil (BNB) for the Jaiba III solar project in Brazil. The Jaiba III project, with a total installed capacity of 152 MW, will be financed over 22 years, spanning both the construction and operation phases. The solar project will feature Canadian Solar’s BiHiKu modules. The project is currently under construction and is expected to be operational in Q4 2024.</p>
<p><strong>Avaada Energy has </strong><a href="https://www.mercomindia.com/avaada-refinancing-deal-solar-rajasthan" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a ₹44.71 billion (~$535.3 million) refinancing deal with the National Bank for Financing Infrastructure and Development (NaBFID) </strong>for four inter-state transmission system-connected solar projects with a combined capacity of 1.7 GW in Rajasthan. The financing from NaBFID, a specialized government-owned development finance institution, will enable the prepayment of existing loans and offer a successful exit to multiple lenders. The facility will be approved and disbursed as a 20-year rupee term loan facility.</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-arevon-secures-posey-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Origis Secures $136 Million for 75 MW Solar Project


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					</table><p>Madrid-based green energy group <a href="https://brucmanagementprojects.com/en/bruc-management-2/" target="_blank" rel="noopener">Bruc</a> has signed a financing agreement with seven prominent entities, securing €600 million (~$633.8 million), which will be utilized in developing and operating an 8.5 GW portfolio of solar and wind power projects in Spain.</p>
<p>The projects will be in various regions of Spain, including Aragón, Andalusia, Extremadura, Castilla-La Mancha, and Castilla y León. Additionally, the company said it is actively involved in the development of renewable energy storage projects.</p>
<p>The entities participating in this corporate financing initiative include <a href="https://www.santander.co.uk/" target="_blank" rel="noopener">Santander</a>, <a href="https://www.ing.com/Home.htm" target="_blank" rel="noopener">ING</a>, <a href="https://www.ico.es/" target="_blank" rel="noopener">Instituto de Crédito Oficial</a>, <a href="https://group.bnpparibas/en/" target="_blank" rel="noopener">BNP Paribas</a>, and <a href="https://group.intesasanpaolo.com/en/" target="_blank" rel="noopener">Intesa Sanpaolo</a>, who have taken on roles as bookrunners and mandated lead arrangers (MLAs).</p>
<p><a href="https://www.schroderscapital.com/en/global/professional/" target="_blank" rel="noopener">Schroders Capital</a> and <a href="https://infranity.com/" target="_blank" rel="noopener">Infranity</a> are participating as MLAs in the funding arrangement.</p>
<p>The financing deal, structured as &#8220;corporate sustainable financing,&#8221; has been shaped by a shared commitment to ESG principles, reflecting the increasing importance of environmental, social, and governance considerations.</p>
<p>Bruc&#8217;s journey towards becoming a key player in Spain&#8217;s renewable energy sector began when OPTrust and USS pension funds invested in the company&#8217;s capital in 2016 and 2021, respectively.</p>
<p>In June, Interogo Holding, through its infrastructure investment fund, Inter Infrastructure Capital, <a href="https://mercomcapital.com/interogo-holding-acquires-solar-project-portfolio/" target="_blank" rel="noopener">acquired</a> a 49% stake in a 1,066 MW portfolio of operational and under-construction solar photovoltaic generation assets within the Bruc group.</p>
<p>Juan Béjar, President of Bruc, emphasized the urgency of accelerating the energy transition and stressed the importance of a stable regulatory environment and robust transportation infrastructure. He said these factors are essential to harness Spain&#8217;s natural resources, reduce reliance on primary energies, and offer competitive energy prices to industries and consumers.</p>
<p>In December 2022, Bruc <a href="https://www.mercomindia.com/spains-bruc-acquires-six-solar-mw-capacity-from-opdenergy" target="_blank" rel="noopener">acquired</a> six new solar photovoltaic power projects with a cumulative capacity of 384 MW from independent renewable energy producer Opdenergy.</p>


Green Energy Group Bruc Secures €600 Million for Portfolio Expansion in Spain


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					</table><p>Spain-based renewable energy group <a href="https://brucmanagementprojects.com/en/bruc-management-2/" target="_blank" rel="noopener">Bruc</a> has acquired six new solar photovoltaic power projects with a cumulative capacity of 384 MW from independent renewable energy producer <a href="https://opdenergy.com/en/" target="_blank" rel="noopener">Opdenergy</a>.</p>
<p>The assets are part of the 1,101 MW portfolio <a href="https://mercomindia.com/project-finance-brief-opdenergy-spanish-portfolio/" target="_blank" rel="noopener">agreed</a> upon between the two companies in August 2021 for the sale and purchase of 20 solar photovoltaic power generation plants.</p>
<p>Bruc has acquired projects located in the provinces of Cádiz (116 MW), Zaragoza (60 MW), Teruel (114 MW), and Palencia (94 MW) in Spain.</p>
<p>With the delivery of the six plants, Opdenergy has transferred a total of 662 MW.</p>
<p>The 384 MW solar projects are in addition to the 278 MW capacity which have already been handed over to Bruc recently. These assets are located in the provinces of Seville, Soria, and Zaragoza.</p>
<p>The remaining projects of 439 MW capacity is under development.</p>
<p>Bruc currently owns 8,600 MW with access rights to the transmission grid, of which 1,100 MW are either already operational or at an advanced stage of construction.</p>
<p>The company said it believes that an energy transition towards a decarbonized economy is urgently required, and part of this transition relies on the development of clean energies.</p>
<p>The company’s mission is to generate attractive investment opportunities in the field of renewable energies with the aim of contributing to the sustainability of energy supply systems and substantially reducing their environmental impact.</p>
<p>Opdenergy is an independent renewable energy producer in Europe, the United States, and Latin America.</p>
<p>The company develops, finances, and operates high-quality renewable energy projects in several countries and works towards the decarbonization of energy in the different countries in which it operates.</p>
<p>Opdenergy has a portfolio of 1.8 GW of assets in operation and under construction. It has an additional portfolio of 12 GW of projects in different stages of development.</p>
<p>In July, Opdenergy <a href="https://mercomcapital.com/opdenergy-secures-financing-solar-projects-spain/" target="_blank" rel="noopener">signed</a> a green financing agreement of €350 million (~$356.4 million) with BBVA and the European Investment Bank for the construction and commissioning of 605 MW of a solar PV portfolio located in Spain.</p>


Spain’s Bruc Acquires Six Solar Projects with 384 MW Capacity from Opdenergy

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