NTPC Renewables Tenders BoS Package for 200 MW Solar Project in Rajasthan

POWERGRID Wins PFC Consulting’s ISTS Tender to Evacuate 2.7 GW of Renewables

MNRE Floats Consultancy Tender for National Renewable Energy Portal Operations

Inox Clean Acquires Macquarie-Owned Vibrant Energy for ₹50 Billion

Himachal Pradesh Sets Levelized Tariffs for Distributed Solar Projects

CEA Notifies Rules on Safety Framework for Battery Energy Storage Systems

Bihar Expands Time-of-Day Tariffs Applicability in FY 2027

NTPC to Invest ₹58 Billion in 4.7 GWh Battery Energy Storage System

Montecarlo Wins PFC Consulting’s Auction to Evacuate 7 GW Solar Power

SECI Invites Bids for Short-Term Supply of 80 MW Firm Power Under Open Access

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-arevon-secures-920-million-for-1-2-gwh-battery-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Arevon Energy, a renewable energy developer, owner, and operator, <a href="https://mercomcapital.com/arevon-secures-920-million-financing-for-1-2-gwh-battery-storage-project/" target="_blank" rel="noopener">closed</a> a $920 million financing package for its 300 MW/1,200 MWh Nighthawk battery energy storage system (BESS) project in Poway, California. The financing package comprises a $482 million debt facility arranged by CIBC as the lead arranger, alongside ING Capital, NORD/LB, Santander, and Zions Bancorporation, a $169 million preferred equity investment with Goldman Sachs Alternative, and a $268 million tax credit transfer commitment with a corporate purchaser.
rPlus Energies, a U.S.-based renewable energy project developer, <a href="https://mercomcapital.com/rplus-energies-raises-650-million-520-mw-blacks-creek-energy-center/" target="_blank" rel="noopener">secured</a> over $650 million in debt facilities and tax equity financing commitments for its 400 MWac/520 MWdc Blacks Creek Energy Center. Located in Ada County, Idaho, the project will supply electricity to the state’s power grid and support Meta’s public commitments related to the energy use of its Kuna data center, while also serving additional Idaho Power load demand.
ArtIn Energy, a utility-scale renewable energy developer, <a href="https://mercomcapital.com/artin-energy-secures-255-million-investment-agila-investments/" target="_blank" rel="noopener">announced</a> a definitive agreement for a $255 million investment from Agila Investments, a private platform focused on structured capital deployment across energy and infrastructure. According to the company, the investment will be used to fund its U.S. portfolio of utility-scale solar, battery storage, and green fuel projects.
HD Renewable Energy, a company that develops, constructs, and operates renewable energy and energy storage projects,  <a href="https://mercomcapital.com/hd-renewable-energy-secures-34-million-project-financing/" target="_blank" rel="noopener">secured</a> JPY 5.4 billion (~$34 million) project financing for its Helios grid-scale battery storage project in Hokkaido, Japan. The financing was arranged with the support of Nomura Capital Investment and Nomura Securities and was raised through a green project bond.
European Energy, a renewable energy project developer, <a href="https://mercomcapital.com/european-energy-sells-remaining-stake-in-151-mw-solar-project/" target="_blank" rel="noopener">completed</a> the divestment of its remaining stake in the 151 MW Mineo solar project to the Italian investment management firm Sosteneo. With this transaction, Sosteneo will assume full ownership of the project and will be responsible for construction and future operations.
BayWa r.e., a renewable energy project developer, <a href="https://mercomcapital.com/baywa-r-e-sells-63-mw-solar-project-in-the-uk/" target="_blank" rel="noopener">sold</a> a 63 MWp solar project in the U.K. to the global private asset management firm Capital Dynamics. Located in Hampshire, the project is scheduled to commence construction in 2027. It will be supported by an allocation round 7 (AR7) Contracts for Difference offtake agreements and is expected to achieve commercial operation by 2028.
Metafin, a solar financing platform focused on rural micro, small, and medium enterprises (MSMEs) and households, <a href="https://www.mercomindia.com/metafin-secures-10-million-loan-to-finance-solar-projects-for-rural-msmes" target="_blank" rel="noopener">secured</a> a $10 million structured debt facility from global asset-backed credit provider Lendable. The funding will be used to expand Metafin’s access to affordable solar solutions and financing for productive-use solar systems for MSMEs, enterprises, and small businesses across rural India. Through these initiatives, Metafin aims to enable rural businesses and households to transition away from diesel-based energy solutions by improving their access to reliable, affordable solar power.
ACEN India, a subsidiary of the Philippines-based renewable energy company ACEN Renewables International, <a href="https://www.mercomindia.com/acen-india-secures-%E2%82%B97-52-billion-for-100-mw-wind-project-in-karnataka" target="_blank" rel="noopener">raised</a> ₹7.52 billion (~$80.15 million) from Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation for its 100-MW wind power project in Bijapur, Karnataka. The company has signed the power purchase agreement for the project with SJVN. The project, expected to be commissioned in 2027, will generate around 330 million units of clean energy annually.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week’s project finance <a href="https://www.mercomindia.com/project-finance-brief-prime-infra-secures-4-6b" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Arevon Secures $920 Million for 1.2 GWh Battery Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-rplus-acquires-solar-storage-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
rPlus Energies, a U.S.-based renewable energy developer, <a href="https://mercomcapital.com/rplus-energies-acquires-900-mw-of-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the acquisition of two solar and storage projects in Ada County, Idaho. The projects, Blacks Creek Energy Center and Bluebird Solar, together represent a combined 900 MW of solar and storage capacity. The Blacks Creek Energy Center project was acquired from Qcells, a utility-scale solar and energy storage project developer and provider of solar engineering, procurement, and construction services. The Bluebird solar project was acquired from Mission Clean Energy, a utility-scale renewable energy and storage developer.
European Energy, a renewable energy project developer, <a href="https://mercomcapital.com/european-energy-secures-44m-financing-for-hybrid-solar-storage-project/" target="_blank" rel="noopener">secured</a> €37.9 million (~$43.89 million) long-term project financing for the development of a hybrid solar and energy storage project in the municipality of Saldus, Latvia. The solar project is also co-owned by European Energy and Sampension. The project consists of a 65 MW solar and a 92 MWh battery energy storage system across approximately 96 hectares.
Aukera, a Europe-based renewable energy developer and independent power producer, <a href="https://mercomcapital.com/aukera-secures-70m-financing-250-mw-500-mwh-storage-project/" target="_blank" rel="noopener">secured</a> a €60 million (~$70 million) debt facility from Kommunalkredit Austria for the development and construction of its stand-alone battery energy storage project in Romania. The 250 MW/500 MWh battery storage project, located in Gura Ialomitei, Ialomita County, is planned for delivery in two phases. Phase 1 is currently under construction, and the whole project is expected to reach commercial operation by mid-2026.
Octopus Australia, an energy fund manager and developer, <a href="https://mercomcapital.com/octopus-australia-secures-financing-300-mw-solar-storage-project/" target="_blank" rel="noopener">secured</a> A$900 million (~$588 million) in financial closure for its Blind Creek Solar Farm and Battery project, located in Bungendore, New South Wales, Australia. The project consists of 300 MW of solar energy, along with a 243 MW/486 MWh battery. It is backed by Octopus Australia funds, which include funding from Hostplus, Rest Super, the Clean Energy Finance Corporation, Westpac Private Bank, and infrastructure company APG.
Enlight Renewable Energy, a renewable energy independent power producer and developer, <a href="https://mercomcapital.com/enlight-secures-1-44b-debt-financing-for-snowflake-a-project/" target="_blank" rel="noopener">announced</a> that its U.S. subsidiary Clēnera Holdings entered into a debt financing agreement for its Snowflake A project located near Holbrook, Arizona. The Snowflake A project combines 600 MW of solar with 1,900 MWh of energy storage. The project is expected to achieve commercial operations by the second half of 2027. Once operational, it will produce enough energy to power nearly 110,000 homes in Arizona.
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-boom-power-sells-solar-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: rPlus Acquires 900 MW of Solar and Storage Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-intersect-power-project-financing/" target="_blank" rel="noopener">Mercom Capital Group</a>
Intersect Power, a utility-scale solar project developer, <a href="https://mercomcapital.com/intersect-power-secures-837-million-in-project-financing/" target="_blank" rel="noopener">announced</a> closing two separate transactions representing an aggregate of $837 million in financing commitments for constructing and operating three standalone Battery Energy Storage Systems (BESS) in Texas. The transaction covers portfolio-level construction debt, tax equity, and term debt financing. The three energy storage systems, Lumina I, Lumina II, and Radian, will be operational in 2024. The projects are expected to be operational in 12 months and are claimed to provide 320 MWh battery storage capacity with a two-hour duration.
Leeward Renewable Energy, a developer of solar, wind, and energy storage projects, announced the <a href="https://mercomcapital.com/leeward-renewable-energy-secures-1-25-billion-in-warehouse-facility-financing/" target="_blank" rel="noopener">closing</a> of a $1.25 billion construction warehouse facility. The warehouse provides three years of committed capital to fund a multi-year building plan of advanced and construction-ready projects from LRE’s development pipeline. Initially, the $1.25 billion revolving facility will fund the construction of six fully contracted wind, solar, and battery storage projects, totaling nearly 1 GW of capacity.
Enel Green Power Australia (EGPA), a joint venture company co-owned by Enel Green Power and INPEX Renewable Energy Australia, <a href="https://mercomcapital.com/enel-green-power-australia-acquires-1-gw-hybrid-project/" target="_blank" rel="noopener">announced</a> the acquisition of the Tallawang hybrid project, which comprises 500 MW of solar PV and 500 MW/1,000 MWh energy storage system. EGPA acquired the solar-plus-storage project from RES, a U.K.-based renewable energy project developer.
rPlus Energies, a solar and energy storage project developer, <a href="https://mercomcapital.com/rplus-energies-secures-over-1b-debt-financing-for-project/" target="_blank" rel="noopener">secured</a> over $1 billion in construction debt financing for its Green River Energy Center, which comprises 400 MW of solar PV and 400 MW/1,600 MWh of energy storage. Crédit Agricole Corporate and Investment Bank, KeyBanc Capital Markets, MUFG Bank, Truist Securities, and Wells Fargo Securities contributed to the debt financing deal as coordinating lead arrangers. MUFG Bank is the lender’s administrative agent.
Renewable energy company BluPine Energy has secured ₹4.36 billion ($52.85 million) in <a href="https://www.mercomindia.com/blupine-secures-%E2%82%B94-36-billion-for-a-120-mw-solar-project-in-gujarat" target="_blank" rel="noopener">financing</a> from the State Bank of India for its 120 MW solar project in Panshina and Radhanpur in Gujarat. The electricity generated from this project will be supplied to Gujarat Urja Vikas Nigam (GUVNL) under a power purchase agreement for 25 years from the scheduled commercial operation date. The project is expected to produce around 298,000 MWh of energy annually and supply power to approximately 270,000 households.
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-emeren-group-sells-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Intersect Power Secures $837 Million in Project Financing

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