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Agri-Solar Solutions Provider GK Energy Files Papers for ₹5.01 Billion IPO


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					</table><p><strong>From: <a href="https://mercomcapital.com/project-finance-brief-deriva-energy-acquires-140-mw-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Deriva Energy, an independent renewable energy developer, </strong><a href="https://mercomcapital.com/deriva-energy-acquires-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a 140 MW solar project in Las Animas County, Colo</strong>. The project was acquired from the JUWI, a solar project developer. The project, named ‘Spanish Peaks, is located in the service territory of Tri-State member San Isabel Electric Association. The Spanish Peaks commenced construction and is expected to be commissioned in Q4 2024. Deriva Energy will own the plant and share operations and maintenance responsibilities with JUWI.</p>
<p><strong>Nautilus Solar Energy, a New Jersey-based independent solar power producer, on behalf of its affiliate Nautilus US Power Holdco and Foss &amp; Company</strong>, an institutional investment firm, <strong><a href="https://mercomcapital.com/nautilus-solar-energy-secures-tax-equity-financing/" target="_blank" rel="noopener">entered</a></strong> into a $72 million tax equity partnership. The investment will be used to fund a 62 MW portfolio of 16 solar projects in Maine, Minnesota, New York, and Maryland. This is the second partnership between the two companies.</p>
<p><strong>SAEL, an India-based solar and agricultural waste-to-energy company, </strong><a href="https://www.mercomindia.com/sael-secures-renewable-energy-expansion" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $1 billion in a funding round involving Norfund</strong>, the U.S. Development Finance Corporation, the Asian Development Bank (ADB), Tata Cleantech, and other financial institutions. Out of the total, ADB approved a ₹12.23 billion ($147 million) loan for a 400 MW solar project in Gujarat, and Tata Capital provided financing of ₹6.11 billion ($73.4 million).</p>
<p><strong>Origis Energy, a vertically integrated renewable energy platform and a solar project developer, </strong><a href="https://mercomcapital.com/origis-energy-secures-project-financing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $317 million project tax equity financing</strong> from J.P. Morgan to develop two utility-scale solar and solar plus storage projects. The renewable energy projects are located in New Mexico and Mississippi. The Escalante Solar project is currently under construction and has a capacity of 200 MWac.</p>
<p><strong>Low Carbon, a renewable energy investor and project developer, announced that it has </strong><a href="https://mercomcapital.com/low-carbon-secures-financial-solar-storage-projects/" target="_blank" rel="noopener"><strong>reached</strong></a><strong> financial closure on a 385 MW portfolio</strong> of solar and energy storage projects in the U.K. Most of the projects will begin construction in early 2024 and are part of a large pipeline of solar and battery storage projects in excess of 3 GW in the U.K.</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&#8217;s project finance <a href="https://www.mercomindia.com/project-finance-brief-scale-microgrids-acquires-solar-projects" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Deriva Energy Acquires 140 MW Solar Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-atmos-renewables-acquires-karadoc-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Atmos Renewables, a renewable energy company focused on building and operating renewable and clean energy infrastructure across Australia, </strong><a href="https://mercomcapital.com/atmos-renewables-acquires-karadoc-solar-project/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> the 112 MWdc (90 MW ac)</strong> Karadoc solar project from BayWa r.e. in northwestern Victoria, along with an option to acquire interests in a number of their Australian wind development projects.</p>
<p><strong>PAD RES, a solar and wind project developer, <a href="https://mercomcapital.com/pad-res-secures-117-mw-solar-projects-poland/" target="_blank" rel="noopener">secured</a> PLN240 million (~$58.59 million) to construct two solar projects totaling 117 MW in Poland</strong>. The financing agreement was signed with the Polish Development Fund (PFR). The financing secured from PFR will be used for two new PAD RES investments in the Pomeranian Voivodeship, specifically near the towns of Sztum and Mikołajki Pomorskie.</p>
<p><strong>Nautilus Solar Energy, a community solar company on behalf of its affiliate subsidiary Nautilus U.S. Power Holdco (NPUH), announced the </strong><a href="https://mercomcapital.com/nautilus-acquires-of-community-solar-projects/" target="_blank" rel="noopener"><strong>acquisition</strong></a><strong> of two community solar</strong> portfolios in Maryland totaling 23 MW. The portfolios comprise six solar projects spread across the state and are expected to be operational by 2024.</p>
<p><strong>U.S.-based renewable energy company Origis Energy has </strong><a href="https://www.mercomindia.com/origis-energy-construction-warehouse-financing" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a $750 million construction warehouse facility to be used for the expansion of solar and energy storage projects with a total capacity of nearly 2 GW. </strong>The investment is anticipated to facilitate project development within a three-year timeframe. The establishment of the warehouse facility is expected to bolster the construction of diverse renewable energy projects, including solar installations, energy storage facilities, and combined solar plus storage initiatives. The projects have already secured power purchase agreements with utilities and corporations, effectively ensuring demand and off-take for the generated energy.</p>
<p><strong>Greenbacker, an investment manager and independent power producer, </strong><a href="https://mercomcapital.com/greenbacker-secures-75-million-warehouse-facility-financing/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it has closed on a new warehouse financing facility with an initial aggregate principal amount of $75 million</strong>, with the potential to increase up to $250 million. Greenbacker will use the proceeds of the facility to support the construction and operation of its solar, solar-plus-storage, and standalone energy storage portfolios across the country.</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&#8217;s project finance <a href="https://mercomcapital.com/project-finance-brief-edf-acquires-solar-portfolio-germany/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Atmos Renewables Acquires 112 MW Karadoc Solar Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-broad-reach-bess-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Broad Reach Power, a utility-scale battery storage project developer, </strong><a href="https://mercomcapital.com/broad-reach-power-secures-bess-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $435 million in credit facilities to support the construction of seven stand-alone energy storage projects</strong> totaling 880 MW in Texas and California. The Battery Energy Storage System projects are under construction, with expected commercial operation dates ranging from late 2023 through Q1 2024. The projects include 825 MW in ERCOT and 55 MW in CAISO.</p>
<p><strong>Alternus Energy, an independent power producer, </strong><a href="https://mercomcapital.com/alternus-energy-acquires-solar-project-portfolio-spain/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 32 MW portfolio of solar PV projects in Valencia, Spain, known as the “NF Projects.”</strong> The portfolio consists of six projects,  five of which, totaling 24.4 MW, are expected to reach operation in Q2 2024, with the remaining one project expected to achieve operation in Q1 2025. The initial funding for the project comes from the local bank Banco Internacional Español-Bankinter. Alternus subsidiary Unisun will manage the project construction.</p>
<p><strong>Matrix Renewables, the TPG Rise-backed renewable energy platform, <a href="https://mercomcapital.com/matrix-renewables-acquires-controlling-stake-solar-project/" target="_blank" rel="noopener">acquired</a> a controlling interest in 261 MW of the Pleasant Valley Solar Project</strong> from rPlus Energies in Idaho. The project will begin construction in Q3 2023. The Pleasant Valley Solar project was awarded a power purchase agreement through a negotiated process with Meta and Idaho Power.</p>
<p><strong>Qair, an independent renewable energy producer, </strong><a href="https://mercomcapital.com/qair-secures-financing-for-solar-project-portfolio-poland/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a PLN 335.3 million (~$82.31 million) loan to develop a 129.5 MW solar project portfolio in Poland</strong>. The portfolio consists of three large-scale solar projects located in Golczewo, Rokietnica, and Pakość. The loan agreement was signed with the Santander Bank Polska and PKO Bank Polski consortium. The energy generated by the solar farm will be sold to identified off-takers under long-term corporate power purchase agreements.</p>
<p><strong>Nautilus Solar Energy, a community solar company, </strong><a href="https://mercomcapital.com/nautilus-solar-energy-acquires-community-solar-portfolio-delaware/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 28.7 MW portfolio of six community solar projects in Delaware from TurningPoint Energy (TPE).</strong> The projects, located in Kent, New Castle, and Sussex Counties, are in the late stages of development and are expected to start construction in 2024. TPE developed the six projects as part of Delaware’s community solar program.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/">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-clearway-energy-storagesolar-project" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Broad Reach Secures $435 Million for 880 MW BESS Projects

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