From: Mercom Capital Group

Atlas Renewable Energy, a solar and wind project developer, has closed approximately $3 billion in corporate refinancing, its largest to date for clean energy in Latin America. The company carried out the transaction with the support of its shareholder, Global Infrastructure Partners, and the participation of financial institutions, including BNP Paribas, Crédit Agricole, Goldman Sachs, Morgan Stanley, MUFG Bank, Natixis CIB, and Santander CIB. Due to its scale and structural complexity, the transaction involved 26 law firms in 11 jurisdictions.

Lightsource bp, a renewable energy project developer, sold a portfolio of solar projects totaling 1,037 MWdc in Australia to Aula Energy, an Australian-headquartered renewable energy project developer. The transaction includes five operational solar projects, namely the 200 MWdc Wellington Solar, the 425 MWdc Wellington North Solar, the 107 MWdc West Wyalong Solar, the 214 MWdc Woolooga Solar, and the 90 MWdc Wunghnu Solar projects. The portfolio also comprises a development pipeline of up to 800 MW of co-located battery energy storage systems.

Lydian Energy, an independent power producer, closed a $689 million financing for two solar and one battery storage projects located across three states in the U.S. The full-stack financing, backed by CIBC and MUFG, comprises a construction-to-term loan, a tax credit bridge loan, a co-investment bridge loan, and a letter of credit facility. Lydian’s current portfolio includes 18 solar and storage projects with a combined capacity of 4.4 GW. The company is backed by the clean energy infrastructure fund Excelsior Energy Capital.

Sun Investment Group, a vertically integrated European renewable energy company, closed a €32.5 million (~$38 million) financing for a portfolio of solar projects in Poland. NORD/LB provided the construction bridge financing, including a VAT facility. The portfolio comprises 32 ready-to-build projects with a combined capacity of 59 MWp, at various stages of development, including both ready-to-build and under-construction projects.

CleanChoice Energy, a renewable energy company, will acquire two solar projects totaling 222.2 MWdc, located in Halifax and Bertie counties in North Carolina. The company is acquiring the projects from utility-scale energy project developer Geenex, which began developing these projects in 2017. Construction on the Sumac and Sweetleaf projects is expected to begin in early 2027, with interconnection planned for 2028.

Swift Current Energy, a company that develops, commercializes, owns, and operates utility-scale solar, wind, and energy storage projects, has secured tax equity financing and $248 million in project financing for its 122 MWdc (100 MWac) Three Rivers solar project in eastern Maine, located in Hancock County. Currently under construction, the project is expected to reach commercial operation by the end of 2026. The clean electricity produced from the project is fully contracted under a 20-year power purchase agreement.

For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.

Read last week’s project finance brief.