Daily News Wrap-Up: India Adds 16 GW Solar Capacity in 9M 2024

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India Adds an Unprecedented 16 GW Solar Capacity in 9M 2024

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MNRE Sets Terms for Real Estate Developers to Avail CFA Under PM Surya Ghar


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					</table><p>From: <a href="https://mercomcapital.com/lightsource-bp-sells-solar-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Lightsource bp, a solar project developer, </strong><a href="https://mercomcapital.com/lightsource-bp-sells-49-9-mw-solar-storage-project-to-schroders-greencoat/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of the 49.9 MWac Tiln Farm solar and co-located 25 MW/50 MWh (two-hour duration) energy storage project</strong> to Schroders Greencoat, an investment manager dedicated to renewable infrastructure. The Tiln Farm project is located near Retford in Nottinghamshire, UK. The project began construction in 2022.</p>
<p><strong>Enfinity Global, a U.S.-based renewable energy project developer, announced the financial </strong><a href="https://mercomcapital.com/enfinity-global-secures-558-million-financing-solar-projects-italy/" target="_blank" rel="noopener"><strong>close</strong></a><strong> of €500 million (~$558.73 million)</strong>, which will support the development and construction of around 1.5 GW of solar projects in Italy. The funding has been provided through a club deal structure in partnership with several investors, including Infranity, Schroders Capital, Rivage, BNP Paribas Asset Management, and QIC (Queensland Investment Corporation).</p>
<p><strong>Clearway Energy Group, a developer and operator of clean energy projects, </strong><a href="https://mercomcapital.com/clearway-secures-550-million-financing-for-solar-and-storage-project/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> $550 million in financing for developing its Rosamond South I solar and storage project</strong> in Kern County, California. Upon completion, the solar portion will have a total capacity of 140 MW, and the storage capacity will be 118 MW.  The company has started constructing the Rosamond South I project and is expected to reach commercial operations in 2025.</p>
<p><strong>Sun Investment Group, a solar project developer and investment management company, </strong><a href="https://mercomcapital.com/sig-secures-construction-bridge-facility-29-mw-solar-project-portfolio/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a €16 million (~$17.87 million) construction bridge financing facility</strong> from an international debt fund. The funding will support the development of a portfolio of solar projects totaling 29 MW across Poland.</p>
<p><strong>Sunly, a renewable energy power producer, </strong><a href="https://mercomcapital.com/sunly-secures-335-million-for-hybrid-renewable-projects-in-baltics-and-poland/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €300 million ($335.15 million) financing from Scandinavian and French investors</strong> for developing 1.3 GW of solar, wind, storage, and hybrid projects. The funding will support the development of large-scale hybrid projects across the Baltics and Poland. The investors include Rivage Investment, which operates in France through a fund dedicated to solutions to climate problems; Copenhagen Infrastructure Partners through the Green Credit I fund; and Norway pension fund, KLP.</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-swift-current-energy-secures-financing-for-800-mw-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Lightsource bp Sells 49.9 MW Solar and Storage Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-recurrent-energy-project-financing/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Recurrent Energy, a solar project developer and a wholly owned subsidiary of Canadian Solar </strong><a href="https://mercomcapital.com/recurrent-energy-secures-160-million-project-financing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $160 million in project financing</strong> for the 127 MW<sub>dc </sub>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.</p>
<p><strong>Nautilus Solar Energy, on behalf of its affiliate Nautilus US Power Holdco, has </strong><a href="https://mercomcapital.com/nautilus-acquires-12-7-mw-community-solar-portfolio/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 12.7 MW portfolio of community solar projects</strong> 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.</p>
<p><strong>SMT Energy, an energy storage project developer, </strong><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"><strong>announced</strong></a><strong> the sale of 400 MW of battery energy storage projects</strong> 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.</p>
<p><strong>Sonnedix, an independent solar power producer, </strong><a href="https://mercomcapital.com/sonnedix-secures-280-million-green-loan-financing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a €260 million (~$280 million) green loan to finance the acquisition and construction of renewable energy projects</strong> 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.</p>
<p><strong>Renewable energy power producer Sunly </strong><a href="https://mercomcapital.com/sunly-secures-71-million-funding-for-solar-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €65.9 million (~$71.10 million) in senior non-recourse project funding from mBank</strong> 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.</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-vesper-energy-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


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

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