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					</table><p><strong>From: <a href="https://mercomcapital.com/project-finance-brief-strata-clean-energy-secures-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Strata Clean Energy, a developer, owner, and operator of renewable energy projects, <a href="https://www.businesswire.com/news/home/20240221070832/en/Strata-Clean-Energy-Secures-559-Million-Financing-for-1GWh-Battery-Energy-Storage-Project-in-Arizona" target="_blank" rel="noopener">secured</a> $559 million in financing for a 255 MW/1,020 MWh</strong> Scatter Wash energy storage complex. The energy storage project construction began on January 18 and is expected to be operational by April 2025. A consortium of financial institutions collaborated to secure the necessary funding for this project. J.P. Morgan and Nomura acted as Coordinating Lead Arrangers and Joint Bookrunners.</p>
<p><strong>Matrix Renewables, the TPG Rise-backed renewable energy platform, <a href="https://mercomcapital.com/matrix-renewables-secures-283-million-project-financing/" target="_blank" rel="noopener">secured</a> construction to term loan financing of $283 million</strong> for a 260 MW solar project in Idaho. The company also executed a production tax credit transfer agreement for this project. The debt transaction led by MUFG as a coordinated lead arranger includes a construction loan, term loan, and Letter of Credit support. HSBC, SMBC, National Bank of Canada, Commonwealth Bank of Australia, and Mizuho acted as Mandated Lead Arrangers.</p>
<p><strong>Arevon Energy</strong><strong>, a solar and storage project developer, <a href="https://mercomcapital.com/arevon-renewables-secures-funding-for-solar-plus-storage-project/" target="_blank" rel="noopener">secured</a> more than $1 billion in aggregate funding commitments</strong> for its Eland 2 Solar-plus-Storage Project in Kern County, California. The 374 MW<sub>dc </sub>solar project coupled with 150 MW/600 MWh of energy storage system is under early-stage construction, and the commercial operations are scheduled for the first quarter of 2025. The company obtained a $431 million tax equity commitment from Wells Fargo and $654 million of debt funding, including a construction-to-term loan, a tax equity bridge loan, and a letter of credit facilities.</p>
<p><strong>TagEnergy, a clean energy company investing in competitive generation and storage assets,</strong><a href="https://mercomcapital.com/tagenergy-reaches-financial-close-energy-storage-project/" target="_blank" rel="noopener"><strong> secured</strong></a><strong> financial closure on the 49.9 MW/ 99.8 MWh</strong> Pitkevy facility in Fife, Scotland. The energy storage project was financed under a non-recourse green loan package of up to £70 million (~$88.35 million), provided by lenders Santander UK, Rabobank, and Triple Point on a full merchant basis (except for Capacity Market revenues).</p>
<p><strong>NorthRenew Energy, a U.S.-based renewable and sustainable project developer, </strong><a href="https://mercomcapital.com/northrenew-energy-sells-300-mw-hybrid-projects/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of its Arco wind and solar project in Idaho</strong> to PacifiCorp, a grid operator in the western United States. The Arco Wind and Solar project is located in Bingham and Bonneville counties in Idaho and has a total capacity of over 300 MW. Construction on the project is expected to commence in 2025, with commercial operations planned for late 2026.</p>
<p><strong>Highfield Solar, a solar project developer, <a href="https://mercomcapital.com/highfield-solar-secures-70-million-in-financing-for-ireland-solar-project/" target="_blank" rel="noopener">secured</a> a €65 million (~$70.45 million) debt facility for the construction and operation of the 93 MW Gaskinstown solar photovoltaic power project</strong> in Ireland. The project is financed by the Coöperatieve Rabobank U.A., which also financed the Rathnaskilloge 106 MW project developed by Highfield Solar in December 2023. The Gaskinstown solar project will be built on an area of 81 hectares near the Duleek village in Meath County.</p>
<p>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>.</p>
<p>Read last week&#8217;s project finance <a href="https://www.mercomindia.com/project-finance-brief-enerpac-financing-solar-hybrid-projects" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Strata Clean Energy Secures $559 Million for Storage Project

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