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Daily News Wrap-Up: APTEL Criticizes MERC for Denying Petitioner Relief

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-juwi-sells-solar-portfolio-greece/" target="_blank" rel="noopener">Mercom Capital Group</a>
JUWI, a renewable energy project developer and wholly owned subsidiary of MVV Energie, announced the <a href="https://mercomcapital.com/juwi-sells-267-mw-solar-portfolio-in-greece/" target="_blank" rel="noopener">sale</a> of a 267 MW solar portfolio in Greece to Foresight and Mirova, a Paris headquartered asset management company. The construction of the projects is expected to begin in August 2024. The portfolio comprises three solar projects with an individual capacity of 160 MW, 40 MW, and 67 MW.
Clearway Energy Group, a developer and operator of clean energy projects, <a href="https://mercomcapital.com/clearway-secures-700-million-financing-for-solar-and-storage-project/" target="_blank" rel="noopener">announced</a> that it has secured more than $700 million in construction financing for the 200 MW Luna Valley Solar Project and a 113.5 MW standalone energy storage project in San Bernardino County, which is in the final phase of the 482 MW Daggett Solar + 394 MW Storage complex. The construction of the projects has already begun, and commercial operations of both projects are scheduled for 2025.
Frontier Energy, an Australian clean energy project developer, <a href="https://mercomcapital.com/frontier-energy-secures-142-million-in-debt-financing/" target="_blank" rel="noopener">secured</a> A$215 million (~$142.42 million) in senior project debt financing for developing the Waroona Renewable Energy Project  with Infradebt, an Australian infrastructure fund manager. The funding will support the construction and operation of Stage One of the WERP, a solar plus storage project.
GoldenPeaks Capital, an independent renewable energy power producer, <a href="https://mercomcapital.com/goldenpeaks-capital-secures-financing-for-177-mw-solar-project-portfolio-in-poland/" target="_blank" rel="noopener">secured</a> €109 million (~$118.46 million) in financing across separate transactions for two large-scale solar project portfolios in Poland. Both portfolios, having a total capacity of 177 MW, are being developed by GoldenPeaks Capital. The two portfolios comprise over 100 solar projects, which are in various stages of construction and scheduled for commercial operations by Q4 2024.
Green Genius, a renewable energy project developer, entered into an <a href="https://mercomcapital.com/green-genius-sells-34-mw-solar-portfolio-in-lithuania/" target="_blank" rel="noopener">agreement</a> to sell a 34 MW solar project portfolio in Lithuania to Nala Renewables, a renewable energy investment and development platform. Nala Renewables additionally signed an agreement with Green Genius to acquire further 45 MW of solar projects in the near term. The acquisitions are expected to raise the total size of the portfolio in Lithuania to 79 MW.
India-based renewable energy company BluPine Energy said it has <a href="https://www.mercomindia.com/blupine-energy-secures-%E2%82%B92-39-billion-from-tata-capital" target="_blank" rel="noopener">secured</a> a funding of ₹2.39 billion (~$ 28.54 million) from Tata Capital. The funding will be utilized for a 75 MW solar power project in Chhattisgarh, India. The project is expected to generate close to 117 million units of energy per year and offset more than 107,000 tons of carbon emissions.
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.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-intersect-power-project-financing/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: JUWI Sells 267 MW Solar Portfolio in Greece

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-green-genius-financing-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Green Genius, a renewable energy company, has <a href="https://mercomcapital.com/green-genius-secures-94-million-financing-for-solar-projects/" target="_blank" rel="noopener">secured</a> €87 million (~$94 million) in debt financing for the construction of a 121 MW solar project in Jekabpils, Central East of Latvia. The company received funding from two banks, of which €26 million (~$28 million) was provided by Berenberg Bank, and Nord LB provided a €61 million (~$66 million) loan. The total planned investment for the project is over €100 million (~$108 million).
Technique Solaire Group, an independent producer of renewable energy, <a href="https://mercomcapital.com/technique-solaire-group-acquires-solar-projects-in-netherlands-and-spain-totaling-58-mw/" target="_blank" rel="noopener">announced</a> the acquisition of ready-to-build solar projects in the Netherlands and Spain with a total capacity of 58 MW. The deal includes the acquisition of 10 solar projects, of which two projects are located in the Netherlands while eight are in Spain. The projects in the Netherlands represent a total capacity of 26 MW with an individual capacity of 15 MW and 11 MW located in Gelderland province, in Beuningen and Druten, respectively.
Enel Green Power Australia (EGPA), a joint venture company co-owned by Enel Green Power and Inpex Corporation, <a href="https://mercomcapital.com/enel-green-power-australia-secures-financing-solar-energy-storage-project/" target="_blank" rel="noopener">secured</a> project financing of over A$190 million (~$126 million) to develop Quorn Park Hybrid Project, which includes a 98 MW solar project and a 20 MW/40 MWh battery energy storage system. The project will be jointly financed by a combination of equity provided by EGPA’s shareholders and debt facilities from a group of two lenders comprising Westpac and Bank of China. The construction of the hybrid project will begin in the third quarter of 2024.
The International Finance Corporation will partially <a href="https://www.mercomindia.com/ifc-invests-105-million-in-brookfields-500-mw-solar-project-in-rajasthan" target="_blank" rel="noopener">finance</a> a 550 MW solar power project being developed by Brookfield Asset Management in Bikaner, Rajasthan, with a $105 million investment. The investment will be through long-term non-convertible debentures assigned to the project’s special purpose vehicles, which will implement the project.
Sun Investment Group, a solar project developer and investment management company, <a href="https://mercomcapital.com/sun-investment-group-secures-debt-financing-for-2-gw-solar-pv-pipeline/" target="_blank" rel="noopener">secured</a> debt financing for a pipeline of mid- to late-stage solar projects with a total capacity of 1,970 MW located in Poland. The funding was entirely subscribed by an international debt fund and will support the development of the projects. The pipeline comprises 323 individual projects ranging from 1 MW to 120 MW capacity, including approximately 100 MW at the ready-to-build stage, along with 1,120 MW of mid-stage and 750 MW of early-stage projects.
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.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-british-solar-secures-funding-for-solar-and-storage-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Green Genius Secures $94 Million Financing for Solar Projects

From: <a href="https://mercomcapital.com/project-finance-brief-bluefield-solar-storage-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Bluefield Solar, an income fund focused on acquiring and managing renewable energy and storage assets predominantly in the UK, <a href="https://www.londonstockexchange.com/news-article/BSIF/80mw-energy-storage-acquisition/15463127" target="_blank" rel="noopener">acquired</a> two standalone 40 MW battery storage projects from Green Hedge Energy for approximately £4.5 million (~$5.6 million). The projects are located in Derbyshire and Worcestershire. The acquisition signifies the development rights, grid connection costs, and land leasehold for the projects. Both projects have fully consented, and benefited from near-term grid connections, and the construction of the projects is expected to commence in 2022.
Green Genius, a renewable energy company, <a href="https://mercomcapital.com/green-genius-secures-polish-solar-projects/" target="_blank" rel="noopener">secured</a> PLN 175 million (~$39.5 million) debt financing from Sequoia Economic Infrastructure Income Fund Limited to construct 66 MW solar projects in Poland. Sequoia Investment Management Company acted as an investment advisor on behalf of Sequoia Economic Infrastructure Income Fund Limited. The project is expected to reach commercial operation in early 2023. Since 2019, the company has developed three solar PV projects in Poland with a total accumulated capacity of 128.1 MW.
GreenVolt, through its subsidiaries V-Ridium Solar 45 and V-Ridium Renewables, has reached an agreement to <a href="https://www.greenvolt.pt/en/new/2022/05/18/greenvolt-buys-a-45-mwp-solar-park-in-romania" target="_blank" rel="noopener">acquire</a> a 45 MW solar PV project in Romania, held by Samsung C&amp;T Corporation, LSG Building Solutions, and Green Source Consulting. The operation values ​​the project at around €83 million (~$87.5 million). Part of the energy is sold on the market, with another component of regulated revenue, through green certificates, which are valid until 2031. GreenVolt expects to optimize the asset&#8217;s financial return by establishing a potential bilateral agreement for the sale of unregulated electricity, optimizing the operational management of the project, and the medium-term repowering potential of this asset.
Captona and South Jersey Industries <a href="https://www.prnewswire.com/news-releases/captona-acquires-solar-and-storage-facility-in-massachusetts-with-partner-south-jersey-industries-through-catamaran-renewables-joint-venture-301550509.html" target="_blank" rel="noopener">announced</a> the acquisition through Catamaran Renewables joint venture for a 5.66 MW Solar and 5.2MWh Storage facility in Agawam, Massachusetts. Catamaran Renewables acquired the Agawam Solar and Storage project from Consolidated Edison Solutions, a U.S.-based energy services company (ESCO). The project has qualified for the Massachusetts SMART program – a tariff-based incentive program for eligible solar technology assets – ensuring a strong return on investment as the facility continues to provide clean power to over 100 C&amp;I community subscribers in Western Massachusetts.
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>.
Read last week&#8217;s project finance <a href="https://mercomcapital.com/project-finance-brief-cero-generation-secures-financing/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Bluefield Solar Acquires 80 MW Battery Storage Projects in the UK

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