Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023

Funding and M&A Roundup: Nexamp Secures $520 Million

Project Finance Brief: Arevon Secures $352 Million for Posey Solar Project

Indian Oil Issues Empanelment Tender for Solar Power Projects

Southern Railway Seeks Bids for 1.2 MW Rooftop Solar Projects in Chennai

Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

Doubling Transmission Capacity of Existing Grid Through Reconductoring: Report


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/12/amazon_polly_46595.mp3?version=1671774152">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Europe-based <a href="https://www.ilos-energy.com/" target="_blank" rel="noopener">ILOS Energy </a>has secured a €500 million (~$532.1 million) structured credit facility for generating over 2 GW of power through solar and battery storage projects until 2026.</p>
<p>Sponsored by private equity and infrastructure investor <a href="https://www.omnescapital.com/" target="_blank" rel="noopener">Omnes</a>, the power producer inked a pact for the loan with global institutional investor EIG.</p>
<p>The loan will provide construction equity and acquisition capital for ready-to-build assets and help ILOS to become an independent power producer.</p>
<p>The facility includes an initial tranche of €250 million and comprises an accordion that would increase the loan by another €250 million (~$266 million).</p>
<p>To begin with, ILOS will focus on projects in Ireland, the Netherlands, the United Kingdom, Greece, and Italy. The facility further considers deploying more capital in other OECD (Organisation for Economic Co-operation and Development) jurisdictions and in co-located battery storage and hydrogen.</p>
<p>Omnes Venture ILOS Projects was established in Europe to focus on the development of photovoltaics.</p>
<p>EIG specializes in private investments in energy and energy-related infrastructure globally. It has committed over $44.5 billion to the energy sector through 393 projects or companies in 42 countries on six continents.</p>
<p>Partner at Omnes Michael Pollan said, “ILOS has seen tremendous growth over the last two years. We are proud to continue supporting the company as it works toward this ambitious IPP project. We also look forward to partnering with EIG, a leader in the energy infrastructure sector that shares our common values and strategic view.”</p>
<p>Managing Director and Global Head of Direct Lending at EIG Rob Johnson said, &#8220;This transaction is a testament to our confidence in the management team, their strategy, and ILOS’ sponsors, and it underscores EIG’s commitment to investing in high-quality assets and energy infrastructure that support a low-carbon future.”</p>
<p>Earlier this year, global investment company Eurazeo <a href="https://mercomindia.com/funding-and-ma-roundup-jinko-solar-raise-rmb-10-billion-ipo/" target="_blank" rel="noopener">announced</a> the acquisition of an 80% equity interest in Ikaros Solar, a Belgian solar PV company, from its founders and Capenergi 2, a fund managed by Omnes Capital.</p>
<p>In May 2021, ERG Eolienne France’s subsidiary <a href="https://mercomindia.com/funding-and-ma-roundup-aurora-solar-raises/" target="_blank" rel="noopener">signed</a> an agreement with FPCI Capernergie 3, which is a fund managed by Omnes, to acquire a 100% stake in Omniwatt, a French firm that owns a portfolio including five wind farms for a total of 58 MW and two solar projects for a total of 22 MW.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
</div></div><div class="clearfix"></div></div></div>

ILOS Energy Secures €500 Million Loan from EIG to Develop 2 GW Clean Power


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/11/amazon_polly_44045.mp3?version=1667574958">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Norwegian independent power producer <a href="https://scatec.com/" target="_blank" rel="noopener">Scatec</a> posted consolidated revenue of NOK 1,163 million (~$110.6 million) for Q3, 2022, an increase of 10% year-over-year (YoY) primarily due to better power sales at higher prices in the Philippines. Scatec has 642 MW of operational hydropower projects in the Philippines.</p>
<p>The power production for Q3 rose by 7% YoY to 1,135 GWh, mainly on the back of 58% higher hydropower generation at 339 GWh in the Philippines. The revenue from hydropower sales in the Philippines increased by 83%, with NOK615 million ($59.1 million) in Q3.</p>
<p>“Power production in the Philippines ended 37% above the 5-year average and above the contracted sales volumes as expected. Excess production volumes were sold in the power market at high prices,” the company said.</p>
<p>Reflecting the Q3 results, Scatec raised its proportionate power production full-year 2022 Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) guidance to NOK 2.75-2.85 billion ($261.7-271 million) from NOK 2.5-2.7 billion ($237.8-$256.8 million), reflecting the third-quarter results. It said it expected an above-normal fourth-quarter performance in the Philippines.</p>
<p>Scatec’s revenue from solar and wind projects and hydro projects in the Philippines, Laos, and Uganda amounted to NOK1311 ($124.3), up 22% from NOK1,072 million (~$101.7 million) in the previous year’s quarter.</p>
<p>Of the total revenue for Q3, Scatec said that the development and construction revenues from engineering, procurement, and construction (EPC) contracts totaled NOK 412 million (~$39.2 million) generated from the under-construction projects in South Africa, Brazil, and Pakistan.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2022/11/Production-phillipines.png"><img decoding="async" loading="lazy" class="aligncenter wp-image-44048 " src="https://mercomindia.com/wp-content/uploads/2022/11/Production-phillipines.png" alt="Production phillipines" width="798" height="410" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Production-phillipines.png 1504w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Production-phillipines-300x154.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Production-phillipines-768x395.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Production-phillipines-650x334.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Production-phillipines-624x321.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Production-phillipines-600x308.png 600w" sizes="(max-width: 798px) 100vw, 798px" /></a></p>
<p>Scatec’s adjusted EBITDA surged 7% YoY to NOK 886 million (~$84.3 million) in Q2, 2022.</p>
<p>The company said that the growth in EBITDA was in line with a higher gross profit of NOK 1,101 million (~$104.8 million), a 10% spike YoY.</p>
<p>Scatec CEO Terje Pilskog observed, “We reported strong results from our diversified portfolio of power plants driven by the solid performance in the Philippines. We had an all-time high EBITDA during the third quarter, and our construction activities in South Africa, Brazil, and Pakistan are progressing well.”</p>
<p>Scatec had a project backlog of 900 MW with a project pipeline of 15 GW at the end of Q3, and the company said that 80% of its focus is on larger projects that would further fuel the income.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
</div></div><div class="clearfix"></div></div></div>

Scatec Q3 Revenue Up 10% YoY Driven By Increased Hydropower Sales in the Philippines

power-producer

Get the most relevant India solar and clean energy news.

RECENT POSTS