CEA Allows Type Testing of Power Equipment at Manufacturer’s NABL Labs

CERC Approves Tariffs for NHPC’s 1.2 GW Wind-Solar Hybrid Power Projects

MHI Invites Bids to Set Up Rare Earth Permanent Magnets Manufacturing

ILJIN Electronics to Raise ₹2.96 Billion from Amber Group Through Rights Issue

PFC to Raise ₹1.6 Trillion from Indian and Global Markets

SWELECT-FortifyGrid JV to Set Up Solar-Battery Storage Platform in Singapore

GAIL Invests ₹130 Million in JV with TruAlt to Develop Biogas Plants

Bluspring Acquires STEAG India Unit to Strengthen Energy Services

Rajasthan Invites Bids to Install 4.5 MW Rooftop Solar Systems at Thermal Plants

CPWD Tenders 2.3 MW of Solar Projects in Andhra Pradesh

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-origis-secures-545-million-solar-project-portfolio/" target="_blank" rel="noopener">Mercom Capital Group</a>
Origis Energy, a renewable energy platform, <a href="https://mercomcapital.com/origis-energy-secures-545-million-financing-texas-solar-portfolio/" target="_blank" rel="noopener">reached</a> financial close on an approximately $545 million senior secured project financing with Natixis Corporate &amp; Investment Banking and Santander Corporate &amp; Investment Banking for three utility-scale solar projects (the Rockhound Projects). The portfolio, in Ector County, Texas, has a combined installed capacity of 413 MW.
Enery, an independent power producer in Central and Eastern Europe, <a href="https://mercomcapital.com/enery-secures-535-million-financing-ogrezeni-hybrid-project/" target="_blank" rel="noopener">reached</a> a close on a €460 million (~$535 million) syndicated green project financing to fund the construction of its Ogrezeni hybrid project in Giurgiu County, Romania. The project, which combines solar with battery energy storage systems, has an installed capacity of 761 MWp/534 MWac and over 1 GWh of battery storage capacity.
Avantus, a developer of utility-scale solar and solar-plus-storage projects, <a href="https://mercomcapital.com/avantus-closes-over-300-million-for-kitt-solar-and-energy-storage-project/" target="_blank" rel="noopener">secured</a> a financing package of more than $300 million with Banco Bilbao Vizcaya Argentaria and Canadian Imperial Bank of Commerce, New York Branch, for the Kitt solar and energy storage project. Located in Pinal County, Arizona, the project includes 100 MWac/130 MWdc of solar and 400 MWh of energy storage.
Nofar USA, the U.S. subsidiary of Israeli renewable energy independent power producer Nofar Energy, <a href="https://mercomcapital.com/nofar-usa-closes-acquisition-of-1-gw-of-solar-projects/" target="_blank" rel="noopener">closed</a> its previously approved acquisition of approximately 1 GW of solar energy projects from Pine Gate Renewables, a utility-scale solar project developer. The acquired portfolio comprises operating and development-stage utility-scale solar projects across Texas, Alabama, South Carolina, and North Carolina.
BayWa r.e., a renewable energy project developer, <a href="https://mercomcapital.com/baywa-r-e-sells-14-2-mw-ci-solar-portfolio-in-italy/" target="_blank" rel="noopener">completed</a> the sale of 100% of the share capital of its subsidiary WHF 01 to NetOn Power, a renewable energy platform launched by investment firms Quantum Energy Partners and 547 Energy. The special-purpose vehicle, controlled by BayWa r.e. Power Solutions, includes a portfolio of four commercial and industrial solar rooftop and carport projects located across Italy, totaling approximately 14 MWp.
Bank of Baroda <a href="https://www.mercomindia.com/bank-of-baroda-raises-%E2%82%B9100-billion-through-green-infrastructure-bonds" target="_blank" rel="noopener">raised</a> ₹100 billion (~$1.1 billion) through green infrastructure bonds to support long-term funding for renewable energy and sustainable infrastructure projects. The Series I Long-Term Green Infrastructure Bonds received total bids of ₹164.15 billion (~$1.8 billion), which was over three times the base issue size of ₹50 billion (~$545.65 million). The bank had offered a greenshoe option of an additional ₹50 billion (~$545.65 million).
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’s project finance <a href="https://www.mercomindia.com/project-finance-brief-arevon-energy-secures-183" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Origis Secures $545 Million Solar Project Portfolio

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-grenergy-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Grenergy, a renewable energy company, <a href="https://mercomcapital.com/grenergy-secures-116-million-financing-172-mw-solar-project/" target="_blank" rel="noopener">secured</a> €98.8 million (~$116.26 million) senior non-recourse financing for the 172 MW Ayora solar project. The financing also includes a €13.6 million (~$15.97 million) line of credit loan. The project is located in Valencia, Spain. Banco Santander has fully underwritten the transaction. The project’s construction is complete and is now in the commissioning phase. The project has a 15-year power purchase agreement.
Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, <a href="https://mercomcapital.com/altus-power-acquires-234-mw-solar-and-storage-project-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 234 MW portfolio of solar and storage projects from Greenbacker, a renewable energy investment firm.
Orrön Energy, an independent renewable energy company, has <a href="https://mercomcapital.com/orron-energy-sells-234-mw-solar-projects-in-germany/" target="_blank" rel="noopener">entered</a> into an agreement with Gülermak Renewables Deutschland Holding, a subsidiary of Gülermak Renewables, to sell 234 MW of solar projects in Germany for a total consideration of up to MEUR 14 (~$16 million). The portfolio consists of three solar projects.
PowerBank, an independent renewable energy power producer specializing in distributed solar and battery energy storage system projects, has <a href="https://mercomcapital.com/powerbank-sells-16-87-mw-of-solar-projects/" target="_blank" rel="noopener">announced</a> the sale of its Elmira, Jordan Road 1, and Jordan Road 2 solar projects with a combined capacity of 16.87 MW. Solar Advocate Development acquired the projects for the total consideration of $41 million.
ACME Solar Holdings has <a href="https://www.mercomindia.com/acme-solar-secures-%E2%82%B947-2-billion-financing-for-renewable-energy-projects" target="_blank" rel="noopener">secured</a> a debt tie-up of ₹47.2 billion (~$519.2 million) from Indian financial institutions to fund the construction of renewable energy projects and optimize its capital structure by reducing financing costs. Out of the total amount, ₹27.1 billion (~$298.1 million) has been secured from Power Finance Corporation for ACME’s 300 MW firm and dispatchable energy project that combines renewables with four hours of battery energy storage.
CleanCapital, an independent power producer focused on distributed clean energy, including solar and energy storage, <a href="https://mercomcapital.com/cleancapital-secures-185-million-debt-private-placement/" target="_blank" rel="noopener">announced</a> the completion of a $185 million private placement debt. The debt facility will be used to finance a portfolio of 156 distributed generation projects totaling more than 180 MW, spanning solar and energy storage assets across the U.S.
Avantus, a developer of utility-scale solar and solar-plus-storage projects, <a href="https://mercomcapital.com/avantus-secures-300-million-aratina-1-solar-storage-project/" target="_blank" rel="noopener">secured</a> $300 million tax equity financing from Truist Bank to support the development of the Aratina 1 utility-scale solar and storage project in Kern County, California.
BayWa r.e., a renewable energy project developer, along with its Dutch subsidiary GroenLeven, <a href="https://mercomcapital.com/baywa-r-e-sells-46-mw-floating-solar-project/" target="_blank" rel="noopener">announced</a> the completion of the sale of a 46 MW floating solar project in Friesland, the Netherlands. The project’s rights have been transferred to the local energy cooperative Enerzjyk Skûlenboarch, the municipality Tytsjerksteradiel, and the Friesland Clean Energy Fund.
Pivot Energy, a renewable energy provider and independent power producer, <a href="https://mercomcapital.com/pivot-energy-secures-over-225-million-for-community-solar-projects/" target="_blank" rel="noopener">announced</a> three financing agreements totaling $225 million. The three financing agreements include a $170 million upsized existing construction warehouse facility with ATLAS and First Citizens Bank providing the funding to support the development of a new portfolio of approximately 60 community solar projects totaling 225 MW in Illinois, Colorado, Maryland, Virginia, New York, Pennsylvania, Delaware, Michigan, and California.
ib vogt, a solar and energy storage project developer, <a href="https://mercomcapital.com/ib-vogt-sells-95-mw-solar-project-in-spain/" target="_blank" rel="noopener">announced</a> the sale of the 95.18 MW Baobab solar project in Segovia, Spain, to EOS NER Solar España, a subsidiary of EOS NER, an independent power producer wholly owned by EOS Holding.
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-origis-funding-solar-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Grenergy Secures $116 Million Financing for 172 MW Solar Project

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					</table>Primergy Solar, a developer of distributed and utility-scale solar and battery storage projects, <a href="https://mercomcapital.com/primergy-secures-225-million-in-corporate-and-project-financing/" target="_blank" rel="noopener">announced</a> closing $225 million in project financing for developing its Valley of Fire portfolio. The funding comprises a $125 million tax credit sale for the Gemini Solar + Storage project and a $100 million revolving credit facility from Rabobank for the continued development of the other VoF projects.
Lightsource bp, a solar project developer, <a href="https://mercomcapital.com/lightsource-bp-secures-equity-financing-for-288-mw-solar-portfolio/" target="_blank" rel="noopener">secured</a> a structured equity investment for a 288 MW utility-scale solar portfolio in Texas. HASI, an investor in climate solutions, provided funding to Lightsource bp. The two transactions reached a financial close on October 3 this year. The portfolio comprises the 163 MW Starr solar project in Starr County and the 125 MW Second Division solar project in Brazoria County. Both projects are expected to reach commercial operation by the end of 2024.
Low Carbon, a renewable energy project developer, <a href="https://mercomcapital.com/low-carbon-sells-6gw-battery-storage-projects-in-the-netherlands/" target="_blank" rel="noopener">announced</a> the sale of 6 GW of energy storage projects in the Netherlands. LC Energy, a joint venture between Low Carbon and QING, developed those storage assets. The projects were acquired by S4 Energy, a Dutch-based grid-scale energy storage developer and operator, majority-owned by Castleton Commodities International. According to Low Carbon, the sale is one of the largest-ever investments in battery storage capacity in the renewables sector globally.
Avantus, a solar and storage project developer, <a href="https://mercomcapital.com/avantus-sells-225-mw-catclaw-solar-and-storage-project/" target="_blank" rel="noopener">announced</a> the sale of the Catclaw solar and storage project to D. E. Shaw Renewable Investments. The project features 225 MWac solar and 250 MW/1,000 MWh storage capacity in Buckeye, Arizona, in Maricopa County, and is expected to become commercially operational in 2026. Arizona Public Service has signed a long-term power purchase agreement for the project.
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://mercomcapital.com/project-finance-brief-capital-dynamics-financing-solar-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Primergy Secures $225 Million in Financing for Valley of Fire Portfolio

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