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-recurrent-energy-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Recurrent Energy, a solar and energy storage project developer and a wholly owned subsidiary of Canadian Solar, </strong><a href="https://mercomcapital.com/recurrent-energy-secures-financing-for-171-mw-solar-project-in-australia/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the financial closure of the Carwarp Energy Park</strong> in Australia. Westpac Banking Corporation, Australia and New Zealand Banking Group Limited, and Société Générale, Sydney Branch, provided the funding. The funding amount was not disclosed. The Carwarp Energy project, located in Northwest Victoria near the town of Carwarp, consists of 171 MW of solar with a stage two hybrid 120 MW co-located battery energy storage system.</p>
<p><strong>DRI, an Amsterdam-based renewable energy company and a subsidiary of the DTEK Group, </strong><a href="https://mercomcapital.com/dri-secures-26-million-financing-for-glodeni-ii-solar-project-in-romania/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €24.7 million (~$25.93 million) in non-recourse financing</strong> from Kommunalkredit Austria AG, an infrastructure and energy financing bank in Europe to develop and construct its 60 MW Glodeni II solar project in Glodeni, Mures County, Romania. According to the company, the solar project will reach commercial operation by early 2025.</p>
<p><strong>CleanCapital, an independent power producer focused on distributed clean energy, </strong><a href="https://mercomcapital.com/cleancapital-acquires-23-mw-solar-portfolio-from-kendall-sustainable-infrastructure/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a solar portfolio comprising 40 projects with a total capacity of 22.7 MW</strong> from Kendall Sustainable Infrastructure, an asset management firm. The acquired solar portfolio consists of net-metering and community solar projects, which reached commercial operation between 2015 and 2018. The financial terms of the transaction remained undisclosed.</p>
<p><strong>Origis Energy, a vertically integrated renewable energy platform provider and solar project developer, announced </strong><a href="https://mercomcapital.com/origis-energy-secures-533-million-financing-for-solar-and-storage-projects/" target="_blank" rel="noopener"><strong>closing</strong></a><strong> $533 million in a construction financing facility</strong>, bridge loan facility, and conversion to a term loan with MUFG, a global financial group. Latham &amp; Watkins advised Origis Energy, while Milbank served as the legal counsel for MUFG in the transaction. The Optimist solar project is expected to reach completion in late 2025, while the Wheatland solar project is scheduled for operation in early 2026.</p>
<p><strong>Nozomi Energy, a Japan-focused renewable energy company established by sustainable infrastructure investor Actis, </strong><a href="https://mercomcapital.com/nozomi-energy-acquires-12-solar-projects-totaling-312-mw/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a portfolio of 12 operational solar</strong> projects totaling 312 MW with a Japanese co-investor. The financial details of the transaction were not disclosed. The acquired portfolio consists of entirely operational solar projects with capacities from 1 MW to over 60 MW. Nine of the 12 projects are based in Japan’s Kanto areas, with the remaining projects in Tohoku, Chubu, and Kyushu.</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-dri-acquires-solar-project-italy/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Recurrent Energy Secures Financing for 171 MW Solar Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-orlen-group-solar-project-portfolio-poland/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>ORLEN Wind 3, a subsidiary of the ORLEN Group, </strong><a href="https://mercomcapital.com/orlen-group-to-acquire-280-mw-solar-project-portfolio-in-poland/" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a preliminary agreement with EDP Renewables Polska, a renewable energy project developer</strong>, to acquire two solar projects with a total capacity of 280 MW located in the provinces of Zielona Góra and Poznań in Poland. The company will also acquire a 26 MW wind project in the province of Łódź. The transaction is valued at approximately PLN 1.15 billion (~$0.29 billion).</p>
<p><strong>OX2, a solar and energy storage project developer, </strong><a href="https://mercomcapital.com/ox2-sells-energy-storage-project-in-finland/" target="_blank" rel="noopener"><strong>signed</strong></a><strong> an agreement to sell the ready-to-build 50 MW/110 MWh Uusnivala battery energy storage project</strong> to the L&amp;G NTR Clean Power Fund, which will manage the project’s construction. NTR, a renewable energy asset manager, completed the transaction on behalf of the fund.</p>
<p><strong>FRV Australia, a renewable energy project developer and part of Jameel Energy and the Canadian infrastructure fund OMERS, </strong><a href="https://mercomcapital.com/frv-australia-secures-785-million-refinancing-for-solar-portfolio/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> A$1.2 billion (~$0.785 billion) in refinancing</strong> for its solar project portfolio, which has a total installed capacity close to 1 GW. The portfolio consists of eight solar projects in operation or under construction. The debt package includes a term loan that refinances the portfolio’s actual debt, plus a Letter of Credit facility and a working capital facility to support FRV Australia’s development activities across the country.</p>
<p><strong>Enlight Renewable Energy, a utility-scale solar, wind, and energy storage project developer, </strong><a href="https://mercomcapital.com/enlight-secures-financing-for-atrisco-energy-storage-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the financial close for the energy storage portion</strong> of its Atrisco Solar and Energy Storage project. The project, which has a solar generation capacity of 364 MW coupled with 1.2 GWh of energy storage capacity, is located outside Albuquerque, New Mexico.</p>
<p><strong>DRI, an Amsterdam-based renewable energy company and a subsidiary of DTEK Group, </strong><a href="https://mercomcapital.com/dri-acquires-133-mw-energy-storage-project-in-poland/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a 133 MW/532 MWh energy storage project</strong> in Trzebinia, Poland. DRI acquired 100% of the shares from Columbus Energy, a Polish renewable energy services provider. The company acquired the rights to build the project in March 2024, with commercial operations expected to begin in January 2027.</p>
<p><strong>Scatec, a renewable energy solutions provider, announced <a href="https://mercomcapital.com/scatec-secures-financing-solar-projects-tunisia/" target="_blank" rel="noopener">financial</a> closure for the Sidi Bouzid and Tozeur solar projects, which have a total capacity of 120 MW in Tunisia</strong> (each 60 MW). According to the signed partnership agreement, Scatec will jointly develop and own the projects with Aeolus, a joint venture of Japanese conglomerate Toyota Tsusho Corporation.</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-juwi-sells-solar-portfolio-greece/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: ORLEN Group to Acquire 280 MW Solar Project Portfolio in Poland


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-dri-acquires-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>DRI, an Amsterdam-based renewable energy company and a subsidiary of DTEK Group, </strong><a href="https://mercomcapital.com/dri-acquires-126-mw-solar-project-in-romania/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a 126 MW solar project in Văcărești</strong>, Dâmbovița County, Romania, from local developers. Construction of the Văcărești solar project is expected to begin in autumn 2024 and commence operations the following autumn. Once operational, the project is expected to produce 205.8 GWh of electricity.</p>
<p><strong>Recurrent Energy, a solar and energy storage project developer and a wholly owned subsidiary of Canadian Solar </strong><a href="https://mercomcapital.com/recurrent-energy-secures-513-million-for-1200-mwh-energy-storage-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $513 million in project financing</strong> for its 1,200 MWh Papago storage project in Maricopa County, Arizona. The financing includes a $249 million construction and term loan, a $163 million tax equity bridge loan, and a $101 million letter of credit facility. Construction of the Papago storage project is scheduled to begin in the third quarter of 2024, with commercial operations expected to start in the second quarter of 2024.</p>
<p><strong>Birch Creek Energy, a utility-scale solar and energy storage project developer, <a href="https://mercomcapital.com/birch-creek-energy-secures-financing-49-mw-earp-solar-project/" target="_blank" rel="noopener">closed</a> financing for its 49 MW Earp  solar project in Illinois, U.S. </strong>Tax equity was arranged through Foss &amp; Co., permanent debt was provided by West Town Bank &amp; Trust, and construction capital was underwritten and funded by Pathward®, N.A. Earp Solar is project based in Warren County, Illinois. The project is fully operational and generates enough renewable electricity to power over 7,300 households.</p>
<p><strong>Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, announced the </strong><a href="https://mercomcapital.com/vesper-energy-sells-gaucho-nestlewood-solar-projects-to-octopus-energy-generation/" target="_blank" rel="noopener"><strong>sale</strong></a><strong> of two PJM assets</strong>, Gaucho Solar and Nestlewood Solar projects, to Octopus Energy Generation, a renewable energy asset management firm. The two projects collectively will generate 100 MW of renewable energy annually. The Gaucho Solar project is on 68 acres in Beaver County and Allegheny County, Pennsylvania. The Nestlewood Solar project is located on 610 acres in Clermont and Brown County, Ohio, and offsets power for an e-commerce company as a part of a power purchase agreement.</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-green-genius-financing-solar-projects/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: DRI Acquires 126 MW Solar Project in Romania

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