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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

<a href="https://avantus.com/" target="_blank" rel="noopener">Avantus</a>, a developer of utility-scale solar and solar-plus-storage projects, secured a financing package of more than $300 million with Banco Bilbao Vizcaya Argentaria (BBVA) and Canadian Imperial Bank of Commerce, New York Branch (CIBC) 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. RES is providing the engineering, procurement, and construction services for the project, with Fluence providing its Gridstack Pro battery energy storage systems technology and integration.
Currently under construction, the project is expected to create up to 500 construction jobs and is scheduled for commercial operation by the end of 2026.
The financing package comprises construction funding, a tax equity bridge loan, and letters of credit. The project benefits from a power purchase agreement with Arizona Public Service. White &amp; Case acted as the borrower’s counsel, while Akin Gump served as the counsel to the financing parties.
“The financing demonstrates the continued bankability and commercial viability of utility-scale solar and storage projects in the region, and Avantus’ growing presence in Arizona,” said Avantus CEO Cliff Graham. “We&#8217;re grateful for BBVA and CIBC&#8217;s partnership in bringing this critical infrastructure to Arizona at a time when the state navigates mounting pressure on its electric grid.
Once operational, the Kitt hybrid project is estimated to generate over $25 million in local tax revenues to benefit local services.
In December, the company <a href="https://cms.mercomindia.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. Also, Avantus had <a href="https://cms.mercomindia.com/avantus-sells-225-mw-catclaw-solar-and-storage-project/" target="_blank" rel="noopener">sold</a> its Catclaw solar and storage project to D. E. Shaw Renewable Investments in November 2024.
Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.

Avantus Closes Over $300 Million for Kitt Solar and Energy Storage Project

Grenergy, a renewable energy company, <a href="https://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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>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>.

<a href="https://avantus.com/" target="_blank" rel="noopener">Avantus</a>, a developer of utility-scale solar and solar-plus-storage projects, secured $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.
This tax equity investment follows Avantus&#8217; June 2025 <a href="https://avantus.com/news/Avantus-Secures-Over-$500-Million-to-Advance-Solar-and-Storage-Project-in-Southern-California" target="_blank" rel="noopener">announcement</a> of securing over $500 million in construction financing for the project. The financing package comprises both construction funding and letters of credit and was led by a consortium of lenders, including Sumitomo Mitsui Banking Corporation and Truist Securities.
The project will deliver 200 MW of solar and 500 MWh of energy storage capacity to the grid. Currently under construction, Aratina 1 project is scheduled for commercial operations in 2026. The project is expected to create local jobs and generate significant tax revenue for Kern County, supporting the local economy throughout construction and operations.
White &amp; Case served as legal counsel for Avantus on this transaction. Milbank served as legal counsel, and CCA served as advisor for Truist on this transaction.
&#8220;Closing this tax equity investment is a major milestone for us as we establish ourselves as an independent power producer,&#8221; said Cliff Graham, Chief Executive Officer of Avantus. &#8220;Aratina 1 will be the flagship project coming online under our operating platform, and our continued partnership with Truist reflects their confidence in our ability to deliver reliable, large-scale solar and storage for California.&#8221;
&#8220;Truist is proud to finalize this significant tax equity transaction with Avantus, supporting their Aratina 1 utility-scale solar and battery storage initiative,&#8221; said Chris Nygren, Head of Tax Equity at Truist Bank. &#8220;This deal reflects Truist&#8217;s commitment to building better lives and communities and underscores our tax equity strategy of establishing long-term partnerships that drive both economic and environmental value.&#8221;
According to Mercom&#8217;s 9M and Q3 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
In December, BayWa r.e., a renewable energy project developer, <a href="https://cms.mercomindia.com/baywa-r-e-secures-416-million-funding-for-jvr-energy-park/" target="_blank" rel="noopener">secured</a> financing for the Jacumba Valley Ranch (JVR) Energy Park, which includes 90 MWac/127 MWdc solar and 70 MWac/280 MWh battery energy storage capacity located in Southeastern San Diego County, California.

Avantus Secures $300 Million for Aratina 1 Solar and Storage 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

Primergy Solar, a developer of distributed and utility-scale solar and battery storage projects, <a href="https://cms.mercomindia.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://cms.mercomindia.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, announced the <a href="https://cms.mercomindia.com/low-carbon-sells-6gw-battery-storage-projects-in-the-netherlands/" target="_blank" rel="noopener">sale</a> 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://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.com/project-finance-brief-capital-dynamics-financing-solar-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://avantus.com/" target="_blank" rel="noopener">Avantus</a>, a solar and storage project developer, announced the sale of the Catclaw solar and storage project to D. E. Shaw Renewable Investments (DESRI). 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.
Avantus was responsible for the initial greenfield development, including interconnection, site acquisition, permitting, and procuring select equipment, including batteries. Foley &amp; Lardner acted as legal counsel for Avantus for the transaction.
This transaction marks Avantus&#8217;s fourth project sold to DESRI. The financial details of the transaction were not disclosed.
&#8220;DESRI is pleased to continue our partnership with Avantus, a top U.S. developer of utility-scale solar and solar-plus-storage projects,&#8221; said Robert Schoenherr, Chief Strategy Officer of DESRI. &#8220;Projects like Catclaw underscore our commitment to supporting new clean energy investment nationwide. We are proud to add Catclaw to our current portfolio of Arizona projects and to count APS as a new customer.&#8221;
According to Mercom&#8217;s 9M and Q3 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
Last month, Redeux Energy, a utility-scale solar and storage project developer, announced the <a href="https://cms.mercomindia.com/redeux-energy-sells-200-mw-solar-plus-storage-project/" target="_blank" rel="noopener">sale</a> of a hybrid solar and energy storage project to Scout Clean Energy, a renewable energy project developer. The project includes a 200 MWdc solar and 40 MW/160 MWh, four-hour battery energy storage project. Marathon Capital advised Redeux Energy on the sale. The financial details of the transaction are not disclosed.

Avantus Sells 225 MW Catclaw Solar and Storage Project

<a href="https://www.gsenergystoragefund.com/" target="_blank" rel="noopener">Gore Street Energy Storage Fund</a>, a London-based publicly traded fund managed by Gore Street Capital, has acquired a 200 MW Big Rock 1 energy storage project in Imperial County, California, from clean energy project developer <a href="https://avantus.com/" target="_blank" rel="noopener">Avantus</a>, for an undisclosed amount.
The project is expected to begin construction in the second half of 2023, with completion expected by late 2024. Once operational, the 400 MWh, a two-hour energy storage system, is expected to be one of the largest in the country and will provide reliable power, with plans to provide resource adequacy and ancillary services to the CAISO market.
After the acquisition, the Gore Street Capital Fund will have 27 projects, representing 1.2 GW of operational and construction capacity in the UK, Ireland, Germany, and the U.S.
Tom Buttgenbach, Founder and CEO of Avantus, said, &#8220;Powering our future requires solutions like Big Rock 1 that are clean, low-cost, responsive, and reliable any time of day or night. Now that we have the technology and economics in place to really unleash the potential of energy storage, we need to get to work deploying it in California and other places with vast amounts of existing renewable resources and help bolster grid stability for millions of people&#8221;.
Avantus will continue to oversee the development and construction of the project, pairing Gore Street Capital&#8217;s global operating and technical experience with Avantus&#8217; technical and market expertise.
&#8220;This acquisition is an important milestone in increasing the size and diversification of our international portfolio. In acquiring Big Rock 1, we are delighted to enter the CAISO grid, supporting California&#8217;s massive renewable energy market and broadening our presence in the U.S&#8221;, said Alex O&#8217;Cinneide, CEO of Gore Street Capital.
The Big Rock 1 project is part of Avantus&#8217; longstanding partnership with Imperial County, where the company developed the 800 MW Mount Signal solar cluster over a decade ago, which remains one of the largest operating solar projects in the country. Big Rock 1 will add additional resiliency to the grid, capturing clean energy produced throughout the day and discharging it during periods of high demand throughout the night.
The project is expected to create 90 construction jobs and provide tens of millions in local tax revenue and other contributions to benefit Imperial County communities.
According to Mercom&#8217;s Annual And Q4 2022 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2022-funding-ma-report-for-storage-grid-efficiency" target="_blank" rel="noopener">Report</a> for Storage, Grid &amp; Efficiency. A record 14.6 GW of energy storage and solar + storage projects were acquired in 2022, a 400% increase YoY compared to 3 GW in 2021.

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