From: Mercom Capital Group

Enfinity Global, a renewable energy project developer, raised €316 million (~$368 million) in financing to support the construction of eight utility-scale solar projects with a combined capacity of 276 MW in Italy. The projects, located across the regions of Emilia Romagna, Basilicata, and Lazio, are expected to reach commercial operation by the end of 2026. Once operational, the projects are estimated to produce approximately 403 GWh of electricity annually.

Swift Current Energy, a utility-scale solar, wind, and energy storage project developer, raised $242 million in project financing for its 150 MW/600 MWh Prospect Power Storage project located in Rockingham County, Virginia. The energy storage project is currently under construction, with commercial operation expected in 2026. Prospect Power storage project holds a 15-year power purchase agreement with Dominion Energy Virginia.

Arevon Energy, a renewable energy developer, owner, and operator, has secured a $250 million tax equity commitment from Wells Fargo Bank, N.A., for the development of a two-phase, 430 MW Kelso solar project in Scott County, Missouri. The transaction brings the company’s total financings to $4.5 billion over the past two years. The $500 million Kelso solar project is currently under construction.

Akaysha Energy, an energy storage project developer, secured a A$300 million (~$196 million) corporate debt facility to support the development and construction of its battery energy storage project pipeline in Australia, the U.S., Japan, and Germany. A syndicate of global and domestic banks comprising BNP Paribas, Deutsche Bank, ING, SMBC, and Westpac provided the financing. The package includes a three-year multi-currency revolving loan and a letter of credit financing.

X-ELIO, a Brookfield-owned renewable energy project developer, has announced the sale of the 50 MW Castelvetrano solar project, located in Sicily, to PLT Energia, a solar and wind energy company. The solar project, once operational, is expected to produce approximately 92 GWh of clean electricity annually. The company did not disclose the financial details of the transaction. The company currently has 146 MW of solar capacity in operation and a total of 116 MW of capacity under construction.

Grenergy, a renewable energy company, has entered into an agreement to sell the fourth phase of its Oasis de Atacama project in Chile to funds managed by CVC DIF, the infrastructure investment arm of global private equity firm CVC Capital Partners. The transaction is expected to total an enterprise value of up to $475 million, including earn-outs and financial adjustments.

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.