From: Mercom Capital Group

Avantus, a U.S. developer, owner, and operator of utility-scale solar and energy storage projects, has closed a $1.05 billion corporate credit facility to support the expansion of its renewable energy portfolio. The new facility doubles the company’s previous $522 million corporate credit facility, established in July of 2024. The additional capital will support its transition to an independent power producer model and accelerate project development.

Renewable energy company Avaada Group has secured approximately $1.3 billion in financial closure for its 2.15 GW renewable energy portfolio. The financing was approved by financial institutions such as the State Bank of India, REC, and Canara Bank, across four special-purpose vehicles. The portfolio includes 1.35 GW hybrid projects that will leverage solar and wind resources to supply power to Maharashtra State Electricity Distribution.

Brookfield Asset Management has launched Lumara Energy, a renewable energy platform that plans to deploy approximately $600 million across an initial portfolio of more than 6 GW of solar, wind, and battery storage projects in India. The platform is anchored by Brookfield’s Catalytic Transition strategy. The platform plans to support projects with advanced land acquisition and grid interconnection positions.

Zelestra, a renewable energy project developer, has secured $181 million in green project financing for its 136 MW Skull Creek solar project in Anderson County, Texas. Natixis Corporate and Investment Banking arranged the financing facility. The Skull Creek solar project is under construction and is expected to begin commercial operations by the end of 2027.

Independent power producer ACME Solar Holdings has secured a ₹34.05 billion (~$356 million) long-term project financing loan from Power Finance Corporation for its 250 MW firm and dispatchable renewable energy project, spread across Gujarat and Rajasthan. The loan has a repayment tenure of 19 years and will finance the development and construction of the ACME Urja One Phase III project.

EDP Renewables, a renewable energy power producer, has agreed to sell an 80% common equity stake in a 384 MW solar and battery storage portfolio in California to an Ares Infrastructure Equity fund. The portfolio includes 200 MW of solar capacity and 184 MW of battery storage capacity. The solar project is backed by a 20-year power purchase agreement. The battery storage capacity is covered by a 20-year capacity tolling agreement.

TotalEnergies, a diversified multinational energy company, has signed agreements to acquire a 4 GW onshore renewables portfolio from Shell and sell a 50% stake in a separate 1.2 GW solar and wind portfolio to KKR, a global investment firm. The acquisition covers Shell’s onshore renewable energy business in Europe. 

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

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