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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-origis-secures-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Origis Energy, a solar project developer, announced $415 million in </strong><a href="https://mercomcapital.com/origis-energy-secures-415-million-financing-for-swift-air-solar-project/" target="_blank" rel="noopener"><strong>financing</strong></a><strong> to develop the 145 MW Swift Air solar project in Ector County, Texas. </strong>The funding was provided by Natixis Corporate &amp; Investment Banking (CIB) and Advantage Capital. Natixis CIB was the sole coordinating lead arranger, hedging bank, LC issuer, green loan coordinator, and administrative agent for the $290 million construction and term debt financing.</p>
<p><strong>ib vogt, a solar and energy storage project developer, announced an </strong><a href="https://mercomcapital.com/ib-vogt-sells-780-mw-solar-and-storage-project-portfolio-in-greece/" target="_blank" rel="noopener"><strong>agreement</strong></a><strong> to sell a solar and storage project portfolio to Faria Renewables</strong>, a Greece-based renewable energy project developer backed by Omnes Capital’s Capenergie 5 fund and the Faria Group. The portfolio comprises around 780 MWp solar projects and battery energy storage systems, which are in various stages of development.</p>
<p><strong>AES Chile, a subsidiary of U.S. utility company AES, announced the </strong><a href="https://mercomcapital.com/aes-chile-acquires-171-mw-solar-project-in-chile/" target="_blank" rel="noopener"><strong>acquisition</strong></a><strong> of the 171 MWp Atacama solar project from Sonnedix</strong>, which develops, builds, and operates renewable energy projects. The project is located between the municipalities of Pica and Pozo Almonte in the Tarapacá Region of Chile. The solar project began commercial operation in April 2021 and features 494,640 solar modules and 48 inverters.</p>
<p><strong>Independent power producer Sunsure Energy has </strong><a href="https://www.mercomindia.com/sunsure-raises-4-billion-aseem-infrastructure" target="_blank" rel="noopener"><strong>secured</strong></a><strong> ₹4.16 billion (~$48.07 million) in long-term debt financing from Aseem Infrastructure Finance</strong> to develop a 150 MW open access solar park in Solapur, Maharashtra. The project’s first phase is operational, supplying clean energy to industrial customers. The full capacity is scheduled for completion by March 2025.</p>
<p><strong>Linea Energy, a renewable energy project developer sponsored by EnCap Investments, </strong><a href="https://mercomcapital.com/linea-energy-secures-financing-for-109-mw-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the closing of debt financing for its 109 MWdc Pineview solar project</strong> in Wilcox County, Georgia. The funding comprises a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. First Citizens Bank and Norddeutsche Landesbank Girozentrale led a consortium of lenders that provided the funding. The company did not disclose the amount of the project debt financing.</p>
<p><strong>X-ELIO, a Brookfield-owned renewable energy project developer, </strong><a href="https://mercomcapital.com/x-elio-sells-50-mw-solar-project-in-spain/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> an agreement with Tion Renewables, a Munich-based renewable energy power producer, to sell</strong> a 50 MW solar project in the province of Almeria in southern Spain. The company did not disclose the financial details of the acquisition. The transaction is subject to customary closing conditions and is expected to close by the beginning of February.</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-contourglobal-acquires-solar-storage-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Origis Secures $415 Million Financing for Swift Air Solar Project


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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>Global investment firm Kohlberg Kravis Roberts (<a href="https://www.kkr.com/" target="_blank" rel="noopener">KKR</a>) has agreed to sell 50% of its stake in renewable developer X-ELIO to its joint venture partner <a href="https://bep.brookfield.com/" target="_blank" rel="noopener">Brookfield Renewable</a>.</p>
<p>Financial details were not disclosed.</p>
<p>Since KKR&#8217;s initial investment in 2015, followed by Brookfield&#8217;s acquisition of a 50% stake in 2019, X-ELIO has benefitted from over $2 billion of investment.</p>
<p>X-ELIO has constructed or developed 3 GW of renewable energy projects globally.</p>
<p>Further, the renewable energy developer is projected to have 3 GW of assets in operation, under construction, or ready-to-build in Spain, Italy, the U.S., Australia, Japan, and Latin America by the end of 2023.</p>
<p>Additionally, X-ELIO said that it has over 10 GW of an advanced near-term pipeline of solar and storage assets.</p>
<p>&#8220;Since KKR&#8217;s initial investment eight years ago, we have helped X-ELIO become a global leader in sustainable energy development. As a firm, we have been a long-term investor behind the energy transition. I&#8217;m proud of what we have accomplished together, and wish X-ELIO continued success on this exciting journey,&#8221; said Tara Davies, Co-Head of European Infrastructure at KKR.</p>
<p>Earlier this month, Godawari Green Energy, a wholly-owned subsidiary of KKR-backed Virescent Renewable Energy Trust, <a href="https://www.mercomindia.com/virescent-acquires-solar-project-gujarat" target="_blank" rel="noopener">acquired</a> a 25 MW operational solar project from Samta Energy in the Surendranagar district of Gujarat.</p>
<p>The Competition Commission of India <a href="https://www.mercomindia.com/competition-watchdog-450-million-hero-futures-energies" target="_blank" rel="noopener">recently</a> approved a $450 million investment through the subscription of compulsorily convertible preference shares of Hero Group&#8217;s renewable arm, Hero Future Energies, by Ardor Holding II Pte, a special purpose vehicle indirectly owned by KKR.</p>
<p>Last June, Brookfield <a href="https://www.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 (BGTF), focused on facilitating the global transition to net zero. Brookfield had <a href="https://mercomindia.com/brookfield-raises-billion-energy-fund/" target="_blank" rel="noopener">raised</a> $7 billion in the initial close of BGTF.</p>
<p>Total corporate funding worldwide in the solar sector, including venture capital and private equity, debt financing, and public market financing, came to $24.1 billion, a decline of 13% compared to the $27.8 billion raised in 2021, according to Mercom&#8217;s <a href="https://mercomcapital.com/product/annual-q4-2022-solar-funding-ma-report/" target="_blank" rel="noopener">Annual and Q4 2022 Solar Funding and M&amp;A Report</a>.</p>


Brookfield to Acquire KKR’s 50% Stake in Renewable Developer X-Elio

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