From: Mercom Capital Group

Cypress Creek Energy, a solar and energy storage project developer, has secured $3.5 billion in financing for the first two phases of the Steel River Energy Center, a three-phase solar and battery storage project in Arkansas, U.S. The first two phases will add 1.63 GW of solar capacity and 1.9 GWh of battery storage to the regional grid. The full project is expected to provide 2.45 GW of solar capacity and 2.9 GWh of battery storage by 2029, according to the company.

DRI, an Amsterdam-based European renewable energy developer and the European renewables arm of DTEK Group, has secured approximately PLN 470 million (~$127.4 million) in non-recourse project financing for its 133 MW Trzebinia battery energy storage project in Poland. The facility will support the construction of the Trzebinia battery storage project in Poland’s Trzebinia district. The project is expected to begin operations early in 2027.

Eiffel Investment Group, an independent asset manager, through its infrastructure funds, has agreed to acquire a 50% interest in a Norwegian portfolio from Landinfra Energy, a Nordic renewable energy developer. The portfolio comprises four projects located in the NO1 price area, with an aggregate planned capacity of approximately 886 MW of solar power and 177 MW of co-located battery storage.

Masdar (Abu Dhabi Future Energy Company PJSC), a UAE-based renewable energy developer, has signed an agreement to acquire a 49.99% stake in Madrid-based energy and petrochemical company Repsol’s 705 MW operational renewable energy portfolio in Spain. The transaction values the portfolio at €849 million (~$985 million). The agreement was signed in Abu Dhabi by Masdar Chief Executive Officer Mohamed Jameel Al Ramahi and João Costeira, executive managing director of low-carbon generation at Repsol.

38 Degrees North, a community solar and distributed renewable energy developer and operator, has acquired 104 MW of community solar projects in Illinois from Cypress Creek Energy, an independent power producer. The portfolio comprises 16 advanced-stage projects across 14 counties in Illinois. The companies said the projects are expected to be placed in service by 2027. Additionally, 38 Degrees North said it is developing, acquiring, and constructing other community solar projects in Illinois.

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

Read last week’s project finance brief.