Daily News Wrap-Up: Oriana Power Wins SECI’s Green Ammonia Auction

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Oriana Power Wins SECI’s Auction to Supply 60,000 TPA of Green Ammonia

Maharashtra Issues Draft Deviation Settlement Mechanism Regulations

Daily News Wrap-Up: Power Ministry Ends URET Mechanism


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-bluewave-secures-247m-debt-financing/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>BlueWave, a solar and storage developer, owner, operator, and a subsidiary of Axium Infrastructure, an independent portfolio management firm, has </strong><a href="https://mercomcapital.com/renewable-energy-developer-bluewave-debt-financing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $247 million from two credit facilities.</strong> The first $125 million revolving construction-to-term loan facility was led by KeyBank and the National Bank of Canada, which is said to provide construction debt. The remaining $122 million corporate revolving credit facility was provided by KeyBank and the Canadian Imperial Bank of Commerce, the New York branch.</p>
<p><strong>Greenvolt Group, a developer of clean energy projects, </strong><a href="https://mercomcapital.com/greenvolt-group-increases-share-capital/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> a €150 million (~$173 million) share capital increase</strong>, fully subscribed by its shareholder KKR. The share capital increase will be implemented in two phases. The first phase of this capital increase, totaling €100 million (~$115 million), is expected to be completed soon. The second phase, corresponding to the remaining €50 million (~$58 million) already approved, is expected to be completed by September 30, 2025.</p>
<p><strong>Planted Solar, a company that provides solar energy project deployment platforms, has </strong><a href="https://mercomcapital.com/planted-solar-secures-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $12 million </strong>funding round led by Piva Capital, with participation from existing investors Breakthrough Energy Ventures, Khosla Ventures, and Team Builder Ventures. With this funding, the company plans to accelerate the development of its digital and hardware solutions, expand deployment capacity, and strengthen its partnerships globally.</p>
<p><strong>Sun King, a company focusing on off-grid solar solutions, has </strong><a href="https://www.citigroup.com/global/news/press-release/2025/citi-sun-king-securitization-deliver-solar-million-kenyans" target="_blank" rel="noopener"><strong>closed</strong></a><strong> $156 million (KES20.1 billion) securitization. </strong>Arranged and structured by Citi with Stanbic Bank Kenya acting as the placement agent, the securitization is backed by five international and local commercial banks and three development finance institutions. It builds on the company’s $130 million securitization completed in 2023. The securitization enables Sun King to raise long-term local currency debt by converting future customer repayments for financed solar products into investable assets.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid 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://www.mercomindia.com/funding-and-ma-roundup-cleanpeak-energy-raises-328-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Bluewave Secures $247 Million Debt Financing


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ox2-sells-solar-project-australia/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>OX2, a solar and energy storage project developer, has </strong><a href="https://mercomcapital.com/ox2-sells-119-mw-solar-project-in-australia/" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into an agreement to sell a 119 MWac solar project in Victoria</strong>, Australia, to an undisclosed buyer. OX2 will manage the construction of the project on behalf of the buyer. The project is expected to be operational in 2027 and produce about 242 GWh of clean electricity annually, enough to power approximately 51,000 households in Australia.</p>
<p><strong>Doral Renewables, a utility-scale renewable energy developer, </strong><a href="https://mercomcapital.com/doral-renewables-secures-debt-financing-mammoth-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> closing a $285 million debt financing package to support the initial construction</strong> of the remaining phases of the Mammoth Solar complex in Northern Indiana. These phases consist of three ground-mounted, single-axis systems, each with a capacity of 300 MW, totaling 900 MW overall.</p>
<p><strong>Arevon Energy, a solar and energy storage project developer, </strong><a href="https://mercomcapital.com/arevon-energy-secures-299-million-financing-for-solar-projects-in-indiana/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the financial closure of $299 million debt financing commitments</strong> for the 192 MWdc Ratts 1 solar and 73 MWdc (60 MWac) Heirloom solar projects. The projects are part of the Midwest and Midcontinent Independent System Operator territory, adding 264 MWdc capacity to Pike County, Indiana. Construction on the Ratts 1 and Heirloom solar projects began in August 2024, and both projects are expected to be in commercial operation by Q3 2025.</p>
<p><strong>Q ENERGY, a solar, energy storage, and wind project developer, </strong><a href="https://mercomcapital.com/q-energy-secures-56-million-debt-financing-for-floating-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €50.4 million (~$55.68 million) in debt financing for the Les Ilots Blandin solar project development</strong>. The floating solar project spans over a former gravel pit in the Haute-Marne region of France and has a total capacity of 74.3 MW.</p>
<p><strong>The Greenvolt Group, a solar and wind project developer, </strong><a href="https://mercomcapital.com/greenvolt-sells-153-mw-solar-project-portfolio-in-italy/" target="_blank" rel="noopener"><strong>reached</strong></a><strong> an agreement with Nuveen Infrastructure to sell a 153 MW solar project portfolio</strong> across various regions of Italy for €18.7 million (~$20.69 million). The portfolio comprises 19 projects that will be sold in phases and are expected to reach the ready-to-build stage between 2024 and 2025.</p>
<p><strong>Independent power producer Sunsure Energy has </strong><a href="https://www.mercomindia.com/sunsure-2-billion-tata-capital" target="_blank" rel="noopener"><strong>secured</strong></a><strong> ₹2.26 billion (~$26.92 million) in long-term debt financing</strong> from Tata Capital to bolster its portfolio of open access solar projects in Uttar Pradesh, India with a total operational capacity of 75 MW.</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-swift-current-energy-secures-financing-for-800-mw-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: OX2 Sells 119 MW Solar Project in Australia

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