From: Mercom Capital Group

Vena Energy, an independent solar power producer, has secured approximately A$1.4 billion (~$965 million) in green financing facilities to support solar and battery storage assets across Australia. The facilities cover two transactions that combine funding for under-construction projects with refinancing of existing facilities. The first transaction supports 294 MW of operational solar capacity, 320 MW of under-construction solar capacity, and 408 MWh of under-construction battery storage capacity across the Tailem Bend and Wandoan South precincts in South Australia and Queensland.

The Asian Development Bank (ADB) has approved a $160 million loan for Bhutan under the Solar Farm Expansion Project to help the South Asian nation expand its solar power capacity, modernize its electricity grid, and support private-sector participation in the renewable energy sector. The financing, provided through ADB’s ordinary capital resources, will support at least 310 MW of new solar generation capacity. ADB said the project will also attract private investment through Bhutan’s first private-majority public-private partnership in the energy sector.

Nexamp, a developer of solar and battery storage projects, has closed a $106 million financing facility led by First Citizens Bank to support a portfolio of 20 operating community solar projects across New York, Illinois, Maine, and Massachusetts. The five-year facility will provide long-term funding backed by cash flows from Nexamp’s operating community solar assets. The company said the financing will allow it to reinvest capital into new solar developments while supporting customer cost savings.

Eku Energy, a company that develops, builds, and manages energy storage assets, acquired the 400 MW/1,600 MWh Dion battery energy storage project in the municipality of Lamspringe, Lower Saxony, marking its entry into the German market. According to the company, the project is in an advanced stage of development and has signed a development services agreement with German project developer NION, which developed this project. Under the agreement, NION will continue developing the project until it reaches the ready-to-build stage, while Eku Energy will lead the project’s development, design, and technology.

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.