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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-hive-energy-sells-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Hive Energy, a renewable energy project developer, has </strong><a href="https://mercomcapital.com/hive-energy-sells-of-solar-projects-in-greece/" target="_blank" rel="noopener"><strong>completed</strong></a><strong> the sale of a 267 MW ‘Consortium’ portfolio</strong> comprising four individual solar power projects in Greece to JUWI Hellas, a renewable energy specialist. The projects have been developed to ready-to-build status by Hive Energy, and construction by JUWI is scheduled to begin in the first quarter of 2024. Once operational, these projects will provide enough electricity to power around 100,000 homes each year.</p>
<p><strong>Pacific Green Technologies, an energy storage project developer, </strong><a href="https://mercomcapital.com/pacific-green-secures-debt-for-storage-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> £120 million (~$146 million) Senior Debt Facility for 249 MW/373.5 MWh Sheaf Energy Park </strong>battery energy storage project in Kent, England. The Facility is provided by a two-bank syndicate, with National Westminster Bank and UK Infrastructure Bank Limited contributing £60 million (~$73 million) each. It will be used to fund the development and construction of Sheaf Energy Park, following which repayment will occur on a 10-year amortization profile upon the start of commercial operations.</p>
<p><strong>Radiance Renewables, a subsidiary of Green Growth Equity Fund and backed by EverSource Capital, has </strong><a href="https://www.mercomindia.com/radiance-renewables-90-million-green-loan" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $90 million Green Loan Project Finance Facility</strong> for its 150 MW (AC) greenfield commercial and industrial (C&amp;I) solar power project in Maharashtra. Axis Bank and Standard Chartered Bank collaborated to organize the green loan, with Standard Chartered Bank overseeing green loan compliance, including the Loan Market Association’s Green Loan Principles, IFC Performance Standards, and Equator Principles.</p>
<p><strong>Helleniq Energy, an oil company, </strong><a href="https://www.helleniqenergy.gr/en/media/press-releases/new-international-investment-res-cyprus-market-helleniq-energy" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of six solar photovoltaic parks totaling 26 MW in Cyprus</strong> as part of its efforts to grow its renewable energy activities. The acquisition, carried out through its subsidiary HELLENiQ Renewables, is the Group’s fifth investment in RES internationally and the second in the Cypriot market.</p>
<p><strong>Longroad Energy, a U.S.-based renewable energy project developer, </strong><a href="https://mercomcapital.com/longroad-energy-closes-financing-solar-plus-storage-project-in-arizona/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the financial closure and beginning of construction of the Sun Streams 4 project</strong>, comprising 377 MW solar photovoltaic and 300 MW/1200 MWh storage capacity. The project, located in Longroad’s Sun Streams complex based in Maricopa County, Arizona, is expected to start commercial operations by mid-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-ingka-investments-acquires-solar-projects/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Hive Energy Sells 267 MW of Solar Projects in Greece


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-maxsolar-secures-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Maxsolar, a German-based solar and storage project developer, </strong><a href="https://mercomcapital.com/maxsolar-secures-financing-facility-solar-storage-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €410 million (~$460 million) financing facility to install 2 GW of solar and co-located storage projects</strong> <strong>in the next five years.</strong> Infranity led the investment round with participation from I Squared Capital and Rivage Investment. The financing facility comprises an initially committed tranche of €165 million (~$185.27 million) and a second tranche that will expand the size of the facility with an additional €245 million (~$275 million).</p>
<p><strong>Hive Energy, a solar project developer, has signed an </strong><a href="https://mercomcapital.com/hive-energy-sells-ready-build-solar-projects-italy/" target="_blank" rel="noopener"><strong>agreement</strong></a><strong> with GreenIT, the joint venture between Plenitude and CDP Equity, to sell four solar projects in Italy with a total capacity of 200 MW</strong>. The financial terms of the transaction were not disclosed. The new projects will be developed in Apulia, Sicily, and Lazio using agrivoltaic technology, which involves installing raised structures to achieve synergy between agriculture and renewable energy production.</p>
<p><strong>Italy-headquartered Enel, along with its Chilean subsidiary, has entered into an </strong><a href="https://www.mercomindia.com/enel-to-sell-416-chile-to-sonnedix-for-550-million" target="_blank" rel="noopener"><strong>agreement</strong></a><strong> to sell a 416 MW portfolio of solar photovoltaic power projects in Chile</strong> to Sonnedix, a renewable energy producer, for $550 million. These portfolios of projects owned by Arcadia Generacion Solar include Diego de Almagro (36 MW), Carrera Pinto (97 MW), Pampa Solar Norte (79 MW), and Domeyko (204 MW).</p>
<p><strong>Scatec, a renewable energy solutions provider, <a href="https://mercomcapital.com/scatec-sells-stake-mozambique-solar-project/" target="_blank" rel="noopener">signed</a> an agreement with Globeleq, an independent power producer, to sell its 52.5% equity share in the 40 MW Mocuba solar power project</strong> in Mozambique for $8.5 million. The Mocuba solar power plant is located in the Zambézia Province of Mozambique and was commissioned in August 2019. The project has an annual production of approximately 75 GWh and holds a 25-year PPA with the state-owned utility, EDM.</p>
<p><strong>Heelstone Renewable Energy, an independent power producer, and solar project developer, announced the successful </strong><a href="https://mercomcapital.com/heelstone-renewable-energy-funding-solar-project-georgia/" target="_blank" rel="noopener"><strong>closure</strong></a><strong> of a tax equity investment for four solar projects totaling 320 MW in Georgia</strong>. The financial terms of the transaction were not disclosed. Advantage Capital acted as the tax equity syndicator for Heelstone’s four Georgia utility-scale solar projects currently under construction: Bird Dog Solar, Blackwater Solar, Hobnail Solar, and Wolfskin Solar, totaling approximately 320 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://www.mercomindia.com/project-finance-brief-grenergy-raises-for-solar-projects" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: MaxSolar Secures $460 Million for 2 GW Solar Projects


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					</table><p>The United Kingdom-based renewables company <a href="https://www.hiveenergy.co.uk/" target="_blank" rel="noopener">Hive Energy</a> said it will seek direct investment of $4 billion for over 4 GW of proposed co-located solar and battery storage projects across 30 sites in Turkey.</p>
<p>The capacities of the projects are likely to range from 11 MW to 230 MW, and their applications would be focussed on 19 cities. The average energy yield for solar projects is over 2,000 kWh for every unit of energy.</p>
<p>The company is currently awaiting the pre-license for the grid capacities which is likely to be granted by the first quarter of 2023. Once the approvals are given, Hive will negotiate with international funds and financial institutions to attract foreign direct investment to Turkey.</p>
<p>The Turkish National Energy Plan 2022, published by the Ministry of Energy and Natural Resources estimates that the installed capacity of solar will peak at 52.9 GW by 2035.</p>
<p>Hive has operated in Turkey since 2015 and successfully commissioned 10.5 MW solar power projects in the country. The plant generates 18 million kWh of electricity every year.</p>
<p>The company has also completed or sold 45 solar projects across the UK, Spain, and Cuba. Additionally, it is developing a renewable energy pipeline totaling 26 GW in capacity across 20 countries, comprising solar, battery, wind, green hydrogen, and green ammonia projects.</p>
<p>General Manager, Hive Energy, Turkey Tolga Metin said, “We have already started negotiations with some funding and financial institutions. This is a fantastic growth of our portfolio in Türkiye. The capacity of current applications corresponds to 350 times more than our current installed capacity in the country. The UK is home to various proficient funding agencies, and as Hive Energy has ties to these funding institutions for years, we hope to quickly find suitable partners for the funding of these projects.”</p>
<p>In November last year, Germany-based independent power producer Encavis <a href="https://mercomindia.com/project-finance-brief-sunwin-energy-solar-project-portfolio/" target="_blank" rel="noopener">acquired</a> a 55 MW ready-to-build solar project in Spain from Hive Energy.</p>
<p>In December 2022, a China-headquartered solar module maker TaleSun Solar <a href="https://mercomindia.com/daily-news-wrap-up-switch-mobility-71-buses-jsws-transportation/" target="_blank" rel="noopener">inked</a> a framework agreement with MEM Group to jointly build a module production line with an annual capacity of 1 GW in Turkey.</p>


Hive Energy to Seek $4 Billion Funds for Solar and Battery Projects

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