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Project Finance Brief: Voltwise Power Closes $211 Million in Acquisition Financing

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Delhi Development Authority Invites Bids for 2.2 MW Solar Carport Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-voltwise-power-closes-211-million-in-acquisition-financing/" target="_blank" rel="noopener">Mercom Capital Group</a>
Voltwise Power, a utility-scale battery storage project developer, <a href="https://mercomcapital.com/voltwise-closes-211-million-acquisition-financing-bess-portfolio/" target="_blank" rel="noopener">closed</a> the syndication of a £153.9 million (~$211 million) acquisition financing supporting the purchase of a 460 MW diversified battery energy storage system (BESS) portfolio in the UK from Smart Metering Systems, a U.K.-based energy infrastructure company. The portfolio comprises seven operational BESS projects with a combined capacity of 320 MW/350 MWh, four projects under construction totaling 140 MW/280 MWh, and a number of development projects expanding the company’s existing pipeline.
Alight, a solar developer and independent power producer, has <a href="https://mercomcapital.com/alight-secures-48-million-financing-for-solar-portfolio/" target="_blank" rel="noopener">secured</a> a £34 million (~$47 million) portfolio financing facility from SEB, a Swedish multinational investment bank and financial services group. The Nordic company has been developing European behind-the-meter solar projects built directly on or adjacent to customer sites, located on the consumer side of the utility meter.
Econergy Renewable Energy, a European independent power producer, <a href="https://mercomcapital.com/econergy-secured-29-million-for-120-mwh-battery-storage-project/" target="_blank" rel="noopener">reached</a> financial close on the 40 MW/120 MWh Dalmarnock BESS in Scotland. The company secured £21 million (~$29 million) of project finance from Santander UK. The Dalmarnock project is supported by a long-term optimization partnership with EDF, a provider of battery optimization services, which guarantees a minimum income level while allowing Econergy to retain full upside exposure above the floor.
METLEN Energy &amp; Metals (formerly MYTILINEOS), a Greek industrial conglomerate, has <a href="https://mercomcapital.com/metlen-closes-over-19-million-financing-bicinicco-solar-project/" target="_blank" rel="noopener">secured</a> €16.6 million (~$19.9 million) in project financing to support the development of the 20.75 MW Bicinicco solar project in the Friuli Venezia Giulia region of northern Italy. The financing was secured through Piraeus Bank. BonelliErede served as METLEN’s legal advisor, while Dentons acted as the lender’s legal counsel.
TerraForm Power, an affiliate of Brookfield Asset Management and a renewable energy company in North America, has <a href="https://mercomcapital.com/terraform-power-acquires-1-56-gw-steward-creek-solar-project/" target="_blank" rel="noopener">acquired</a> the 1.56 GW Steward Creek solar project under development in Lee County, Illinois, from its developer, Hexagon Energy. The project will be developed in two phases, each expected to generate approximately 1.3 GWh of energy annually once operational. Construction on phase 1 of the solar project is expected to commence in 2027, with commercial operation scheduled for 2029.
ContourGlobal, an independent renewable energy power producer and a subsidiary of KKR, <a href="https://mercomcapital.com/contourglobal-acquires-2-gwh-bess-and-37-mw-solar-projects/" target="_blank" rel="noopener">acquired</a> a 37 MW portfolio of operational solar projects and 500 MW/2,000 MWh of battery energy storage systems in a mature state of development located across Greece. This marks the company’s entry into the Greek renewable energy market. Of the BESS projects, the first 100 MW are ready to break ground in the coming months.
ABO Energy, a renewable energy project developer, completed the <a href="https://mercomcapital.com/abo-energy-sells-85-mw-solar-projects/" target="_blank" rel="noopener">sale</a> of three solar projects totaling 85 MWp in France. The income and cash inflows from the three projects will be spread across the fiscal years 2024 to 2027. The companies have agreed not to disclose the purchase prices. Of the portfolio, two projects, 26.25 MWp Presnoy and 14.96 MWp Nargis projects, were sold on a turnkey basis to Tenergie, a France-based independent power producer.
Aspen Power, a distributed energy generation platform, has <a href="https://mercomcapital.com/aspen-power-acquires-first-two-projects-of-18-mw-solar-portfolio/" target="_blank" rel="noopener">acquired</a> the first two projects in an 18 MWdc portfolio of community solar projects located in upstate New York from CTEC Solar, a solar and energy storage project developer, engineering, procurement, and construction (EPC) provider, and operations and maintenance provider. The two projects acquired have a combined capacity of 7 MW and are expected to cumulatively generate approximately 10 million kWh of electricity in their first year of operation.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s project finance <a href="https://mercomindia.com/project-finance-brief-low-carbon-closes-over-684-million-in-debt" target="_blank" rel="noopener">brief</a>.

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-european-energy-sells-470-mw-solar-and-wind-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
European Energy, a renewable energy project developer, <a href="https://mercomcapital.com/european-energy-sells-470-mw-solar-and-wind-projects-in-lithuania/" target="_blank" rel="noopener">announced</a> that it has entered into an agreement with Energix Group to sell 470 MW of solar and wind capacity in Lithuania. The capacity consists of a wind project with an estimated capacity of approximately 140 MW and a solar project of up to 330 MW. The project is in the pre-ready-to-build stage of development.
Alight, an independent solar power producer, has <a href="https://mercomcapital.com/alight-secures-48-million-financing-for-eurajoki-solar-project/" target="_blank" rel="noopener">secured</a> €46 million (~$48.07 million) of senior debt for its 100 MWp solar project in Eurajoki in Finland. The company signed the financing agreement with the banks ABN AMRO and SEB. The facility agreement for the Eurajoki solar project will be replicated to finance three additional projects in the company’s pipeline in Finland totaling over 200 MWp and amounting to more than €110 million (~$114.95 million) in debt financing.
Adapture Renewables, a utility-scale solar and energy storage project developer, <a href="https://mercomcapital.com/adapture-renewables-secures-321-million-for-solar-project-portfolio/" target="_blank" rel="noopener">secured</a> a $321 million debt facility from Mitsubishi UFJ Financial Group (MUFG), comprising a construction loan and a tax credit bridge loan. The financing will support the construction and development of the company’s Titanium solar portfolio totaling 441 MW spanning three sites across Arkansas and Illinois.
Velto Renewables, a renewable power producer backed by the investment group CDPQ, <a href="https://mercomcapital.com/velto-renewables-to-acquire-renewable-energy-projects-from-q-energy/" target="_blank" rel="noopener">announced</a> a partnership agreement with Q Energy Solutions, a renewable energy company in Europe, to acquire a portfolio of renewable energy projects across different European countries from Q ENERGY over the next years. As the first transaction under this partnership, Velto has acquired a portfolio of solar and wind projects totaling around 130 MW in France.
European Energy, a renewable energy project developer, <a href="https://mercomcapital.com/european-energy-secures-73-million-financing-for-148-mw-solar-project/" target="_blank" rel="noopener">secured</a> €68 million (~$72.79 million) in financing to develop a 148 MW solar project in the Ventspils municipality, Latvia. NIB, Luminor Bank, and NORD/LB have agreed to co-finance the project. Stelo Orienta SIA, a subsidiary of European Energy, is developing the project.
New York-based global alternative asset manager Brookfield Asset Management <a href="https://www.mercomindia.com/brookfield-sells-1-6-gw-renewables-portfolio-in-india-to-gentari" target="_blank" rel="noopener">announced</a> the sale of its 1.6 GW portfolio of solar and wind assets in India to Gentari Renewables India in two phases. The first phase, comprising the sale of 1 GW of operating assets, is already complete. It is Brookfield’s first full-cycle portfolio monetization for its renewable power and transition business in India.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week&#8217;s project finance <a href="https://www.mercomindia.com/project-finance-brief-smt-energy-secures-bess-project" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: European Energy Sells 470 MW Solar and Wind Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-ib-vogt-solar-project-spain-2/" target="_blank" rel="noopener">Mercom Capital Group</a>
ib vogt, a solar and energy storage project developer, <a href="https://mercomcapital.com/ib-vogt-sells-110-mw-solar-project-in-spain/" target="_blank" rel="noopener">announced</a> the sale of its 110 MW Pato solar project in Spain to NextPower V ESG, an OECD Fund of NextEnergy Capital. Construction of the solar project began in March 2024. The solar project is expected to be commercially operational in the first quarter of 2025 and has a signed power purchase agreement with an industrial innovator.
Alight, an independent solar power producer, announced the financial <a href="https://mercomcapital.com/alight-secures-123-million-debt-financing-for-solar-projects-in-sweden/" target="_blank" rel="noopener">closure</a> of €110 million (~$122.56 million) senior debt portfolio financing with the Dutch lender Rabobank. The funding will be used to build, own, and operate small to medium solar projects (up to 50 MW) with a combined capacity of about 220 MW in Sweden.
The European Investment Bank (EIB) and BNZ, a solar project developer owned by Nuveen Infrastructure, <a href="https://mercomcapital.com/bnz-secures-185-million-green-loan-for-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the signing of a €166 million (~$184.68 million) green loan to support the development of 17 new solar projects with a combined capacity of more than 700 MW located across Spain, Italy, and Portugal.
Sonnedix, an independent solar power producer, announced the <a href="https://mercomcapital.com/sonnedix-acquires-80-mw-solar-project-in-italy/" target="_blank" rel="noopener">acquisition</a> of an 80 MW solar project in Sicily, Italy, from Blunova, a renewable energy project developer and the sub-holding of Carlo Maresca Group. Following the acquisition, the company will acquire ten operating plants totaling 250 MW from Blunova in Southern Italy.
Arevon Energy, a solar and energy storage project developer, <a href="https://mercomcapital.com/arevon-secures-351-million-financing-for-251-mw-solar-project/" target="_blank" rel="noopener">announced</a> the closing of $351 million financing to build the 251 MWdc Gibson Solar Project, located in Gibson County, Indiana. Construction on the Gibson solar project began last month. The funding consisted of a construction loan from CoBank, Societe Generale, and PNC Bank, along with a letter of credit facility provided by CoBank.
Zelestra (formerly Solarpack), a renewable energy project developer, has <a href="https://www.mercomindia.com/zelestra-closes-146-million-financing-for-453-mw-solar-project-in-rajasthan" target="_blank" rel="noopener">closed</a> a financing package of €132 million (~$146 million) for a 453 MW solar PV project in Gorbea, Rajasthan. The project will supply power to the Solar Energy Corporation of India for 25 years. The financing was signed with HSBC, Credit Agricole, MUFG, and Bank of America.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-atlas-secures-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: ib vogt Sells 110 MW Solar Project in Spain

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