From: Mercom Capital Group

Energy storage solutions provider Return has secured €835 million (~$930 million) in portfolio financing underwritten by Deutsche Bank and Rabobank to expand battery storage capacity for its Virtual Flexibility Portfolio in Germany. The financing combines funding for physical battery storage assets with Return’s virtual flexibility portfolio.

Panamint Capital, a U.S. energy investment firm, has achieved financial close on $769 million in financing for the 491 MW Big Rooter West solar project in Robertson County, Texas. The financing represents the first phase of a $1.8 billion green loan for Big Rooter Power, a 1.2 GW solar photovoltaic project being developed at the company’s Twin Oaks Power Station and Calvert Mine. The proceeds will fund the ongoing construction of Big Rooter West, the first stage of the project. Construction began in July of this year, and commercial operations are scheduled for August 2028.

Avantus, a developer, owner, and operator of utility-scale solar and energy storage projects, has increased commitments under its corporate credit facility to $1.28 billion from $1.05 billion. Helaba, Mitsubishi UFJ Financial Group (MUFG), Norddeutsche Landesbank (NordLB), Santander, and Standard Chartered joined the lending consortium as new lead arrangers. The expanded facility builds on the $1.05 billion corporate credit facility Avantus closed in August of this year.

Clean energy company Candi Solar has announced a $50 million partnership with Pentagreen Capital to finance 400 MW of solar and battery energy storage projects in India. The partnership aims to expand access to clean energy for small and medium-sized enterprises (SMEs). It will also help Candi Solar achieve its target to more than double its total capacity to over 1 GW over the next 24 months.

European asset manager Demea Sustainable Investment and renewable energy developer Enovos Green Power have acquired shares in Zonnepark Lanakerveld B.V., a solar and battery energy storage project near Maastricht, the Netherlands. The project comprises approximately 45 MW of solar photovoltaic capacity and a 25 MW/100 MWh battery energy storage system. The solar facility is expected to generate more than 45,000 MWh of renewable electricity annually. Construction began in September 2026, and the project is expected to be commissioned in summer 2027.

Sunraycer Renewables, an independent power producer and a portfolio company of Crayhill Capital Management, has acquired two utility-scale solar projects totaling 325 MW from Apricus Energy, a joint venture between NOVI Energy and Osaka Gas USA. The acquisition comprises the 175 MW Gem City solar project in Adams County, Illinois, and the 150 MW Mighty Mississippi solar project in New Madrid County, Missouri. Algorithm Law served as legal counsel to Sunraycer for the acquisition, while Holland & Knight advised the sellers.

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

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