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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-recurrent-energy-project-financing/" target="_blank" rel="noopener">Mercom Capital Group</a>
Recurrent Energy, a solar project developer and a wholly owned subsidiary of Canadian Solar <a href="https://mercomcapital.com/recurrent-energy-secures-160-million-project-financing/" target="_blank" rel="noopener">secured</a> $160 million in project financing for the 127 MWdc Bayou Galion Solar project located in Morehouse Parish in Northeast Louisiana. The project is under construction and is expected to be operational by fall 2024. The company began the development of the Bayou Galion Solar project in 2018, and construction began in December 2023.
Nautilus Solar Energy, on behalf of its affiliate Nautilus US Power Holdco, has <a href="https://mercomcapital.com/nautilus-acquires-12-7-mw-community-solar-portfolio/" target="_blank" rel="noopener">acquired</a> a 12.7 MW portfolio of community solar projects in New York from SoIAmercia Energy. Both solar projects are expected to be fully operational in 2024. Once completed, the community solar projects are expected to provide clean energy to power over 1,800 residential subscribers within the National Grid utility territory.
SMT Energy, an energy storage project developer, <a href="https://www.prnewswire.com/news-releases/smt-energy-sells-400-megawatts-of-battery-energy-storage-facilities-to-ubs-asset-management-302055312.html" target="_blank" rel="noopener">announced</a> the sale of 400 MW of battery energy storage projects in Texas to UBS Asset Management. The projects are connected to the ERCOT power grid and are on track to come online in 2024 and 2025.
Sonnedix, an independent solar power producer, <a href="https://mercomcapital.com/sonnedix-secures-280-million-green-loan-financing/" target="_blank" rel="noopener">secured</a> a €260 million (~$280 million) green loan to finance the acquisition and construction of renewable energy projects in Italy. The multi-borrower loan includes greenfield project finance for the construction of two photovoltaic plants located in Sicily and Sardinia with a total capacity of around 200 MW, as well as an acquisition finance line of an operating asset.
Renewable energy power producer Sunly <a href="https://mercomcapital.com/sunly-secures-71-million-funding-for-solar-projects/" target="_blank" rel="noopener">secured</a> €65.9 million (~$71.10 million) in senior non-recourse project funding from mBank to develop renewable energy projects in Poland. The funding will be used to construct 58 solar projects with a total capacity of about 98 MW. Most of them will be located in the south of Poland, in the provinces of Małopolska, Opole, Podkarpackie, Silesia, and Świętokrzyskie, but individual installations are also planned in other regions.
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-vesper-energy-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Recurrent Energy Secures $160 Million Project Financing

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-mytilineos-secures-financing-588-mw-solar-portfolio/" target="_blank" rel="noopener">Mercom Capital Group</a>
Mytilineos, a Greek industrial conglomerate, has <a href="https://mercomcapital.com/mytilineos-secures-financing-588-mw-solar-portfolio-chile/" target="_blank" rel="noopener">reached</a> the financial close for its 588 MW non-recourse solar park portfolio in Chile. The financing was secured from lenders BNP Paribas, Intesa San Paolo, Sumitomo Mitsubishi Banking Corporation, Rabobank, and Santander Chile. The financing consists of a construction and term facility of $315 million, a VAT facility of $30 million, and a $32 million letter of credit facility.
Nautilus, a New Jersey-based independent solar power producer, on behalf of its affiliate Nautilus U.S. Power Holdco, <a href="https://mercomcapital.com/nautilus-acquires-community-solar-portfolio-in-illinois/" target="_blank" rel="noopener">announced</a> the acquisition of a 75.6 MW community solar portfolio consisting of 16 projects in Illinois. All the projects are expected to be operational between 2025 and 2027. The projects are expected to generate clean energy to serve the energy needs of around 10,000 homes and commercial businesses.
Genesis Energy, a New Zealand-based power and gas utility company, and its joint venture partner, FRV Australia, <a href="https://www.genesisenergy.co.nz/about/news/financial-close-reached-on-large-scale-solar-farm" target="_blank" rel="noopener">achieved</a> the financial close of the 63 MW solar project, which is yet to be built in Lauriston on the Canterbury Plains, New Zealand. The solar project is on a 93-hectare site and, once operational, will power the equivalent of nearly 13,000 houses. The expected construction costs are approximately $104 million.
Public infrastructure finance company REC Limited has <a href="https://www.mercomindia.com/rec-raises-denominated-green-bonds" target="_blank" rel="noopener">issued</a> its inaugural yen-denominated green bonds of ¥61.1 billion (~$420.9 million) to finance renewable energy projects. Issued under its $10 billion Global Medium Term Notes Program, the proceeds from the bonds will be used to finance eligible renewable energy projects under its green finance framework and the guidelines of the Reserve Bank of India. The green bonds with five-year, 5.25-year, and 10-year tenures are issued at yields of 1.76%, 1.79%, and 2.20%, respectively.
ENI Plenitude, through its U.S. subsidiary Eni New Energy US, <a href="https://mercomcapital.com/eni-plenitude-acquires-272-mw-us-solar-portfolio/" target="_blank" rel="noopener">signed</a> an agreement with EDP Renováveis, a renewable energy company, to acquire an 80% equity stake in a portfolio of operational solar projects in the U.S. The portfolio consists of the Cattlemen (Texas), Timber Road (Ohio), and Blue Harvest (Ohio) solar parks, having a total capacity of 340 MWac (478 MWdc), of which Plenitude acquired 272 MWac (382 MWdc).
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://www.mercomindia.com/project-finance-brief-soltec-sells-solar-denmark" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Mytilineos Secures Financing for 588 MW Solar Portfolio

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