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Recurrent Energy, a global developer, owner, and operator of solar and energy storage and a subsidiary of Canadian Solar, <a href="https://cms.mercomindia.com/recurrent-energy-acquires-420-mw-solar-portfolio-in-spain/" target="_blank" rel="noopener">announced</a> the acquisition of a solar PV portfolio with more than 420 MW capacity in South Spain. The portfolio, located in Carmona, consists of a cluster of four projects, Rey I, II, III, and IV, which are under construction and will feature Canadian Solar’s TopBiHiKu7 N-type bifacial TOPCon technology modules.
Invenergy, a developer of renewable energy projects, has <a href="https://cms.mercomindia.com/invenergy-secures-1-3-billion-to-develop-renewable-energy-projects/" target="_blank" rel="noopener">secured</a> $1.27 billion in financing. The funding round of funding was led by Natixis Corporate and Investment Banking and is earmarked for the development and construction of Invenergy’s renewable energy initiatives located in Kansas and Texas. The four projects together represent a total capacity of 677MW.
Doral Renewables, a utility-scale renewable energy project developer, <a href="https://cms.mercomindia.com/doral-renewables-secures-debt-financing-solar-project/" target="_blank" rel="noopener">closed</a> a construction debt facility for its Great Bend solar project. The company secured $114 million in financing from the sole lender, HSBC, for the project, which consists of a $36 million construction-to-term loan facility, a $57 million tax equity bridge loan, and a $21 million letter of credit facility.
Solarpack, a solar project developer, has <a href="https://cms.mercomindia.com/solarpack-secures-176-million-financing-for-san-martin-solar-project/" target="_blank" rel="noopener">secured</a> a $176.6 million senior financing package for the 300 MW San Martin solar project in Peru. The financing has been secured from Crédit Agricole Corporate and Investment Bank, Natixis Corporate &amp; Investment Baking, BBVA, and BNP Paribas using a project finance structure, being the first renewable project financed in Peru based on a power purchase agreement  between private parties.
Greenvolt, a solar and wind project developer, through its subsidiary Greenvolt Power, <a href="https://cms.mercomindia.com/greenvolt-secures-39-million-project-finance/" target="_blank" rel="noopener">signed</a> a €36 million (~$39.34 million) project finance with UniCredit Bank Hungary for the construction, operation, and maintenance of a 57 MW solar project in Hungary.
AXS Energia, a solar energy company, <a href="https://cms.mercomindia.com/axs-energia-secures-project-financing-for-39-7-mw-solar-projects/" target="_blank" rel="noopener">secured</a> a $5 million senior debt facility from Triodos Emerging Markets Renewable Energy Fund and Triodos Groenfonds for the construction of 14 ground-mounted solar projects in Brazil with a combined capacity of 39.7 MW. CIFI Services is the lead arranger of this $54 million 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-strata-clean-energy-secures-storage-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Recurrent Energy Acquires 420 MW Solar Portfolio in Spain

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-recurrent-energy-acquires-420-mw-solar-portfolio-in-spain/" target="_blank" rel="noopener">Mercom Capital Group</a>
Recurrent Energy, a global developer, owner, and operator of solar and energy storage and a subsidiary of Canadian Solar, <a href="https://mercomcapital.com/recurrent-energy-acquires-420-mw-solar-portfolio-in-spain/" target="_blank" rel="noopener">announced</a> the acquisition of a solar PV portfolio with more than 420 MW capacity in South Spain. The portfolio, located in Carmona, consists of a cluster of four projects, Rey I, II, III, and IV, which are under construction and will feature Canadian Solar’s TopBiHiKu7 N-type bifacial TOPCon technology modules.
Invenergy, a developer of renewable energy projects, has <a href="https://mercomcapital.com/invenergy-secures-1-3-billion-to-develop-renewable-energy-projects/" target="_blank" rel="noopener">secured</a> $1.27 billion in financing. The funding round of funding was led by Natixis Corporate and Investment Banking and is earmarked for the development and construction of Invenergy’s renewable energy initiatives located in Kansas and Texas. The four projects together represent a total capacity of 677MW.
Doral Renewables, a utility-scale renewable energy project developer, <a href="https://mercomcapital.com/doral-renewables-secures-debt-financing-solar-project/" target="_blank" rel="noopener">closed</a> a construction debt facility for its Great Bend solar project. The company secured $114 million in financing from the sole lender, HSBC, for the project, which consists of a $36 million construction-to-term loan facility, a $57 million tax equity bridge loan, and a $21 million letter of credit facility.
Solarpack, a solar project developer, has <a href="https://mercomcapital.com/solarpack-secures-176-million-financing-for-san-martin-solar-project/" target="_blank" rel="noopener">secured</a> a $176.6 million senior financing package for the 300 MW San Martin solar project in Peru. The financing has been secured from Crédit Agricole Corporate and Investment Bank, Natixis Corporate &amp; Investment Baking, BBVA, and BNP Paribas using a project finance structure, being the first renewable project financed in Peru based on a power purchase agreement  between private parties.
Greenvolt, a solar and wind project developer, through its subsidiary Greenvolt Power, <a href="https://mercomcapital.com/greenvolt-secures-39-million-project-finance/" target="_blank" rel="noopener">signed</a> a €36 million (~$39.34 million) project finance with UniCredit Bank Hungary for the construction, operation, and maintenance of a 57 MW solar project in Hungary.
AXS Energia, a solar energy company, <a href="https://mercomcapital.com/axs-energia-secures-project-financing-for-39-7-mw-solar-projects/" target="_blank" rel="noopener">secured</a> a $5 million senior debt facility from Triodos Emerging Markets Renewable Energy Fund and Triodos Groenfonds for the construction of 14 ground-mounted solar projects in Brazil with a combined capacity of 39.7 MW. CIFI Services is the lead arranger of this $54 million 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’s project finance <a href="https://www.mercomindia.com/project-finance-brief-primergy-secures-solar-project" target="_blank" rel="noopener">brief</a>.

<a href="https://www.axsenergia.com.br/" target="_blank" rel="noopener">AXS Energia</a>, a solar energy company, secured a $5 million senior debt facility from Triodos Emerging Markets Renewable Energy Fund and Triodos Groenfonds for the construction of 14 ground-mounted solar projects in Brazil with a combined capacity of 39.7 MW. CIFI Services is the lead arranger of this $54 million project.
All the solar projects are currently under construction and are expected to start operations in the second quarter of 2024. The energy generated by the 14 solar projects will be directly injected into the grid near the point of use, which means it is placed close to the end consumers, mainly small businesses.
AXS Energia has developed an app that allows customers to get discounts on the energy generated by solar plants.  With this app, customers can also access their invoices, look at their energy consumption, and track energy savings.
Altynai Valikhanova, Head of Project Debt (renewable energy in emerging markets): ‘We see this transaction – our first in Brazil &#8211; as a welcome addition to our renewable energy portfolio in emerging markets. The project boosts distributed renewable energy and has clear environmental and social benefits: reduction of greenhouse gas emissions, provision of energy security, and employment and income opportunities. It also marks the start of our relationship with CIFI, a reputed player in infrastructure and energy projects in Latin America.”
According to Mercom’s Q4 and Annual Global Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding deals announced in 2023 came to $44.5 billion in 229 deals, of which 196 were disclosed.
Primergy Solar, a developer, owner, and operator focused on distributed and utility-scale solar PV and battery storage projects, <a href="https://cms.mercomindia.com/primergy-solar-secures-financing-408-mw-solar-project/" target="_blank" rel="noopener">announced</a> the closure of its $588 million commitments in debt financing for the 408 MW Ash Creek solar project in Hill County, Texas.

AXS Energia Secures Project Financing for 39.7 MW Solar Projects

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