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ENGIE to Build 22 MW Solar Project for Saudi Cement Factory


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-s4-energy-bess-portfolio-germany/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>S4 Energy, an energy storage project developer and a majority-owned subsidiary of Castleton Commodities International (CCI), has </strong><a href="https://mercomcapital.com/s4-energy-to-acquire-310-mw-battery-energy-storage-portfolio-in-germany/" target="_blank" rel="noopener"><strong>agreed</strong></a><strong> to acquire a 310 MW portfolio</strong> of German battery energy storage projects from Terra One Climate Solutions, a Germany-based energy storage project developer. The portfolio comprises projects in shovel-ready and advanced stages of development and is expected to reach commercial operation between 2026 and 2028.</p>
<p><strong>esVolta, an energy storage project developer, </strong><a href="https://mercomcapital.com/esvolta-secures-110-million-financing-for-hummingbird-energy-storage-project/" target="_blank" rel="noopener"><strong>completed</strong></a><strong> a $110 million tax equity transaction with Greenprint Capital Management to develop and construct the 300 MWh Hummingbird battery energy storage project</strong> in San Jose, California. The project is under construction and is expected to be completed in 2025.</p>
<p><strong>ACME Sun Power, a wholly owned subsidiary of ACME Solar Holdings, has </strong><a href="https://www.mercomindia.com/acme-secures-37-billion-loan-from-rec" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a ₹37.53 billion (~$444.68 million) loan from REC Limited to develop 320 MW Firm and Dispatchable Renewable Energy projects</strong> in collaboration with SJVN. The project is located in high-resource potential regions, with the solar capacity situated in Jaisalmer, Rajasthan, and wind power generation at Bhuj and Jam Khambhaliya in Gujarat.</p>
<p><strong>Standard Solar, a developer and owner of commercial and community solar projects, </strong><a href="https://mercomcapital.com/standard-solar-acquires-25-mw-solar-project-from-balanced-rock-power/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> 25 MWdc of the Windhub Solar B solar project in Kern County</strong>, California, from Balanced Rock Power, a renewable energy project developer. The project’s construction will begin in the first half of 2025.</p>
<p><strong>Field, an energy storage project developer, </strong><a href="https://mercomcapital.com/field-acquires-200-mw-800-mwh-battery-storage-project-in-the-uk/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of the 200 MW/800 MWh Hartmoor battery storage project near Hartlepool, England, UK,</strong> from independent project developer Clearstone Energy. According to Field, the project is expected to be operational in 2026 and will store up to 800 MWh of clean electricity.</p>
<p><strong>AXIAN Energy, a renewable energy project developer, </strong><a href="https://mercomcapital.com/axian-energy-secures-90-million-financing-for-solar-plus-storage-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €84 million (~$89.69 million) financing for two solar plants with energy storage systems in the southern Senegalese region of Kolda</strong>. A group of lenders comprising the Dutch entrepreneurial development bank FMO, the Emerging Africa &amp; Asia Infrastructure Fund (EAAIF), and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) provided the funding.</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-edp-acquires-solar-project-brazil/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: S4 Energy to Acquire 310 MW BESS Portfolio in Germany


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-x-elio-financing-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>X-ELIO, a solar project developer, </strong><a href="https://mercomcapital.com/x-elio-secures-97-million-financing-for-solar-projects-in-spain/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the closing of €89 million (~$96.75 million) financing deal with Societe Generale as sole bookrunner</strong>, mandated lead arranger, and hedge provider. The funds will be utilized for the development and construction of three solar projects totaling 123 MW in Spain. The assets involved in the operation are an X-ELIO PV plant in Almeria, which is currently reaching the end of its construction phase, and two further plants, one located in Murcia and the other in Granada, both under construction since the end of 2023. The financing deal closed in February 2024.</p>
<p><strong>Sonnedix, an independent solar power producer, </strong><a href="https://mercomcapital.com/sonnedix-acquires-49-mw-solar-portfolio-in-portugal/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a 49 MW portfolio of solar projects in Portugal from Cubico Sustainable Investments</strong>. All the projects that were brought into operation between 2012 and 2014 are located across southern Portugal in the regions of Evora, Setubal, and Faro. The already-in-operation portfolio adds immediate capacity without permitting and construction risk.</p>
<p><strong>Standard Solar, a solar energy company specializing in developing and financing solar electric systems, <a href="https://mercomcapital.com/standard-solar-acquires-solar-project-portfolio-vermont/" target="_blank" rel="noopener">announced</a> the acquisition of an 18.5 MW solar project portfolio</strong> in Vermont from MHG Solar, a solar project developer. The portfolio consists of six solar projects, all owned and operated by Standard Solar, and will provide clean energy to Vermont’s electric utilities under the state’s Standard Offer Program.</p>
<p><strong>RIC Energy, an independent renewable energy project developer, </strong><a href="https://mercomcapital.com/ric-energy-sells-community-solar-projects/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of three community solar projects with a combined capacity of 20 MW</strong> in New York to Luminace, a provider of decarbonization-as-a-service solutions owned by Brookfield. The solar projects are located in New York State Electric and Gas and National Grid service territories in upstate New York.</p>
<p><strong>GridStor, a developer and operator of utility-scale battery energy storage projects, </strong><a href="https://www.businesswire.com/news/home/20240307723501/en/GridStor-Announces-Acquisition-of-Galveston-County-Battery-Energy-Storage-Project-From-Balanced-Rock-Power" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it has acquired a 450 MW / 900 MWh project in Galveston County</strong>, Texas, from Balanced Rock Power. The Evelyn Battery Energy Storage project, which is slated to begin construction in Summer 2024, has an anticipated online date of Spring 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-recurrent-energy-funding-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: X-ELIO Secures $97 Million Financing for Solar Projects


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-enerpac-financing-solar-hybrid-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>ENERPARC AG, a solar project developer, </strong><a href="https://mercomcapital.com/enerpac-secures-bridge-financing-325-mw-solar-hybrid-projects-in-germany/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> bridge financing for a 325 MW project portfolio consisting of solar photovoltaic (PV) and hybrid projects</strong>, including energy storage. The French investment firm, Eiffel Investment Group, provided the financing. The portfolio consists of fifteen solar projects located in the states of Rhineland-Palatinate, Schleswig-Holstein, and Brandenburg. The projects vary in size, with the smallest at approximately 6 MW and the largest at 39 MW.</p>
<p><strong>Plus Power, a developer and owner of energy storage projects </strong><a href="https://mercomcapital.com/plus-power-secures-nearly-100-million-tax-equity-financing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> approximately $98 million in tax equity financing from Greenprint Capital Management</strong> to develop the 200 MW/ 400 MWh Ebony energy storage project. The Ebony energy storage project is located near San Antonio, Texas. The construction started in March 2023, and the project is expected to go online during the spring of 2024. The investment from Greenprint Capital Management is expected to help the project stabilize ERCOT’s power system during dynamic summer demand and cold winter storms.</p>
<p><strong>CDPQ, an investment company, </strong><a href="https://www.cdpq.com/en/news/pressreleases/cdpq-acquires-80-stake-solar-plant-japan" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> an 80% stake in a 31 MW solar power project in Japan alongside its portfolio company, Shizen Energy</strong>. The Inuyama project, which went into operation in the last few days, has a total solar power generation capacity that is enough to power the equivalent of 7,850 homes. The solar power project is located in Aichi prefecture. The acquisition will be CDPQ’s first co-investment with Japan’s Shizen Energy as part of a JPY 50 billion (~$0.33 billion) co-investment framework announced in October 2022, when CDPQ invested JPY 20 billion (~$0.13 billion) in the company to support its growth.</p>
<p><strong>ib vogt, a renewable energy project developer, </strong><a href="https://mercomcapital.com/ib-vogt-secures-376m-in-financing-spanish-solar-project-portfolio/" target="_blank" rel="noopener"><strong>achieved</strong></a><strong> financial closure for a 418 MW solar PV portfolio in Spain</strong>. The PV portfolio consists of three projects clustered around Segovia, in the autonomous community of Castile and León, Spain. The project financing was provided by Norddeutsche Landesbank -Girozentrale, Santander CIB, and BBVA. The total debt raised for the portfolio amounts to approximately €350 million (~$375.61 million).</p>
<p><strong>Standard Solar, a solar energy company specializing in developing and financing solar electric systems, </strong><a href="https://mercomcapital.com/standard-solar-acquires-84-mw-community-solar-portfolio/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> an 84 MW community solar portfolio</strong> in Illinois from New Leaf Energy. The portfolio consists of three sets of community solar gardens in Illinois: six sites with a capacity of approximately 47 MW, four sites totaling 12 MW, and four sites representing 25 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://mercomcapital.com/project-finance-brief-recurrent-energy-project-financing/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: ENERPARC Secures Financing for 325 MW Solar, Hybrid Projects


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					</table><p><strong>From: <a href="https://mercomcapital.com/project-finance-goldenpeaks-acquires-solar-projects-poland/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>GoldenPeaks Capital Energy, a Malta-headquartered green power producer, has </strong><a href="https://mercomcapital.com/goldenpeaks-capital-acquires-solar-projects-poland/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> 283 MW ready-to-build solar power projects in Poland</strong>, located mostly in the country’s western and northwestern regions. The portfolio comprises a mix of projects with capacities of up to 10 MW. With the latest acquisition, the company aims to strengthen its solar market in Poland and close in on its target of 1 GW of solar assets in Poland by 2024.</p>
<p><strong>Greenbacker Capital Management, a renewable energy asset manager, through an affiliated investment vehicle, </strong><a href="https://mercomcapital.com/greenbacker-secures-storage-solar-portfolio/" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a $92 million financing agreement</strong> with BMO, who served as both the lender and the administrative agent for the deal.  The proceeds from the construction, comprising of construction and tax equity bridge loans, will be used to finance the construction of the 30 MW Holtville battery energy storage project. The term loan will support the construction of a portfolio of community solar projects in the northeastern U.S.</p>
<p><strong>Lightsource bp, a global utility-scale solar project developer, </strong><a href="https://www.mercomindia.com/lighsource-bp-to-sell-five-australia-for-547-million" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of five of its utility-scale solar photovoltaic projects</strong> to clean energy generation company Beijing Jingneng Clean Energy Australia for A$813 million (~$546.68 million). The five solar power projects, located across New South Wales, Queensland, and Victoria, have a cumulative capacity of 1,036 MWdc.</p>
<p><strong>Renewable energy company BluPine Energy has </strong><a href="https://www.mercomindia.com/blupine-loan-120-mw-solar-project" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the financial closure of ₹5.11 billion (~$61.3 million) for its 120 MW solar project</strong> in Gujarat, India. The green loan financing for the project was secured from Standard Chartered.</p>
<p><strong>Adapture Renewables, a utility-scale solar and energy storage project developer, </strong><a href="https://mercomcapital.com/adapture-renewables-acquires-solar-projects/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of three solar power projects</strong> totaling 450 MW<sub>dc</sub>/ 333 MW<sub>ac</sub> in MISO territory in Illinois and Arkansas from Tyr Energy Development Renewables. All three acquired projects are currently in the pre-notice-to-proceed stage, with anticipated commercial operation dates slated for 2025 and 2026.</p>
<p><strong>Standard Solar, a solar energy company specializing in developing and financing solar electric systems, </strong><a href="https://mercomcapital.com/standard-solar-acquires-solar-project-in-texas/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a 9.9 MW</strong> behind-the-meter solar project named ‘Bluebonnet’ in Texas from EDF Renewables North America. The Bluebonnet project is slated for completion in Q2-2024, with construction efforts underway.</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://mercomindia.com/project-finance-brief-kyon-energy-storage-projects" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: GoldenPeaks Acquires 283 MW Solar Projects in Poland


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					</table><p>Renewable energy investor <a href="https://bep.brookfield.com/" target="_blank" rel="noopener">Brookfield Renewable</a>, together with its institutional partners, has announced the acquisition of two clean energy companies in the United States for over $1.5 billion.</p>
<p>Brookfield Renewable will acquire Scout Clean Energy for $1 billion with the potential to invest an additional $350 million and Standard Solar for $540 million with the potential to invest an additional $160 million.</p>
<p>Scout’s portfolio includes over 1,200 MW of operating wind assets and a pipeline of over 22,000 MW of wind, solar, and storage projects across 24 states, including almost 2,500 MW of under-construction and advanced-stage projects.</p>
<p>Standard Solar has approximately 500 MW of operating and under-construction contracted assets and a development pipeline of almost 2,000 MW.</p>
<p>The investments will be made through Brookfield Global Transition Fund I, the largest fund in the world focused on the energy transition. BGTF I has raised $15 billion to invest across a range of transition opportunities.</p>
<p>After the acquisition, both Scout and Standard Solar will continue to operate as independent businesses within the Brookfield Renewable U.S. platform.</p>
<p>“We underwrote both transactions without the benefit of the Inflation Reduction Act, so the additional incentives now available represent a significant boost to each business. Our development pipeline in the United States is now close to 60,000 MW and is well diversified across wind, utility-scale solar, distributed generation, and energy storage. Combined with our existing fleet, we are well positioned for continued growth as owners and operators of one of the largest diversified clean power businesses in the country,” said Connor Teskey, CEO of Brookfield Renewable.</p>
<p>The Scout and Standard Solar acquisitions follow a string of recent clean energy investments worth $3.5 billion by Brookfield Renewable in North America during 2022.</p>
<p>Brookfield Asset Management recently <a href="https://mercomindia.com/brookfield-asset-management-raises-15-billion-for-clean-energy/" target="_blank" rel="noopener">announced</a> the final institutional close of a $15 billion raise for the Brookfield Global Transition Fund, focused on facilitating the global transition to net zero. Brookfield claimed that the fundraise is the largest ever dedicated to enabling the global shift towards net zero.</p>
<p>Brookfield <a href="https://mercomindia.com/brookfield-renewable-partners-reduces-loss-by-98-yoy-in-q2-2022/" target="_blank" rel="noopener">reported</a> revenue of $2.41 billion during the first half of CY 2022 and deployed or agreed to deploy $4.5 billion of capital across a wide range of renewable investments.</p>
<p>According to Mercom Capital’s <a href="https://mercomcapital.com/product/1h-q2-2022-solar-funding-ma-report/" target="_blank" rel="noopener">1H and Q2 2022 Solar Funding and M&amp;A Report</a>, total corporate funding, including venture capital funding, public market, and debt financing, for the solar sector in the first half (1H) 2022 stood at $12 billion.</p>


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