NTPC Floats O&M Tender for 25 MW Floating Solar Project

MNRE Clarifies ALMM List II Rules for Solar Cell Compliance

IEX’s Electricity Trading Volume Rises 7.7% YoY in July

Distribution Business, Renewables Boost Torrent’s Revenue 3% in Q1 FY 2027

SECI Seeks Trading Partner to Sell Renewable Energy

PM Surya Ghar Powers 5 Million Homes, Total Capacity Hits 15 GW

Nextpower Raises Guidance for FY 2027 on Strong Q1 Performance

Avantus Closes $1 Billion Credit Facility to Expand Project Portfolio

Tandem PV Acquires nexTC to Bring Thin-Film Coating Technology In-House

Base Power Raises $1 Billion in Series D Funding Round

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/02/amazon_polly_91130.mp3?version=1771997890">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/project-finance-brief-atlas-renewable-secures-3-billion-refinancing/" target="_blank" rel="noopener">Mercom Capital Group</a>
Atlas Renewable Energy, a solar and wind project developer, has <a href="https://mercomcapital.com/atlas-renewable-3-billion-refinancing-latin-american-portfolio/" target="_blank" rel="noopener">closed</a> approximately $3 billion in corporate refinancing, its largest to date for clean energy in Latin America. The company carried out the transaction with the support of its shareholder, Global Infrastructure Partners, and the participation of financial institutions, including BNP Paribas, Crédit Agricole, Goldman Sachs, Morgan Stanley, MUFG Bank, Natixis CIB, and Santander CIB. Due to its scale and structural complexity, the transaction involved 26 law firms in 11 jurisdictions.
Lightsource bp, a renewable energy project developer, <a href="https://mercomcapital.com/lightsource-bp-sells-over-1-gw-of-solar-projects-portfolio/" target="_blank" rel="noopener">sold</a> a portfolio of solar projects totaling 1,037 MWdc in Australia to Aula Energy, an Australian-headquartered renewable energy project developer. The transaction includes five operational solar projects, namely the 200 MWdc Wellington Solar, the 425 MWdc Wellington North Solar, the 107 MWdc West Wyalong Solar, the 214 MWdc Woolooga Solar, and the 90 MWdc Wunghnu Solar projects. The portfolio also comprises a development pipeline of up to 800 MW of co-located battery energy storage systems.
Lydian Energy, an independent power producer, <a href="https://mercomcapital.com/lydian-energy-secures-689-million-for-solar-and-battery-storage-projects/" target="_blank" rel="noopener">closed</a> a $689 million financing for two solar and one battery storage projects located across three states in the U.S. The full-stack financing, backed by CIBC and MUFG, comprises a construction-to-term loan, a tax credit bridge loan, a co-investment bridge loan, and a letter of credit facility. Lydian’s current portfolio includes 18 solar and storage projects with a combined capacity of 4.4 GW. The company is backed by the clean energy infrastructure fund Excelsior Energy Capital.
Sun Investment Group, a vertically integrated European renewable energy company, <a href="https://mercomcapital.com/sun-investment-group-secures-38-million-59-mw-solar-portfolio/" target="_blank" rel="noopener">closed</a> a €32.5 million (~$38 million) financing for a portfolio of solar projects in Poland. NORD/LB provided the construction bridge financing, including a VAT facility. The portfolio comprises 32 ready-to-build projects with a combined capacity of 59 MWp, at various stages of development, including both ready-to-build and under-construction projects.
CleanChoice Energy, a renewable energy company, will <a href="https://mercomcapital.com/cleanchoice-energy-to-acquire-222-mw-of-solar-projects/" target="_blank" rel="noopener">acquire</a> two solar projects totaling 222.2 MWdc, located in Halifax and Bertie counties in North Carolina. The company is acquiring the projects from utility-scale energy project developer Geenex, which began developing these projects in 2017. Construction on the Sumac and Sweetleaf projects is expected to begin in early 2027, with interconnection planned for 2028.
Swift Current Energy, a company that develops, commercializes, owns, and operates utility-scale solar, wind, and energy storage projects, has <a href="https://mercomcapital.com/swift-current-energy-raises-248-million-in-project-financing/" target="_blank" rel="noopener">secured</a> tax equity financing and $248 million in project financing for its 122 MWdc (100 MWac) Three Rivers solar project in eastern Maine, located in Hancock County. Currently under construction, the project is expected to reach commercial operation by the end of 2026. The clean electricity produced from the project is fully contracted under a 20-year power purchase agreement.
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-greenbacker-440-million-tax-equity-financing" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Atlas Renewable Energy Secures $3B Refinancing

Atlas Renewable Energy, a solar and wind project developer, has <a href="https://cms.mercomindia.com/atlas-renewable-3-billion-refinancing-latin-american-portfolio/" target="_blank" rel="noopener">closed</a> approximately $3 billion in corporate refinancing, its largest to date for clean energy in Latin America. The company carried out the transaction with the support of its shareholder, Global Infrastructure Partners, and the participation of financial institutions, including BNP Paribas, Crédit Agricole, Goldman Sachs, Morgan Stanley, MUFG Bank, Natixis CIB, and Santander CIB. Due to its scale and structural complexity, the transaction involved 26 law firms in 11 jurisdictions.
Lightsource bp, a renewable energy project developer, <a href="https://cms.mercomindia.com/lightsource-bp-sells-over-1-gw-of-solar-projects-portfolio/" target="_blank" rel="noopener">sold</a> a portfolio of solar projects totaling 1,037 MWdc in Australia to Aula Energy, an Australian-headquartered renewable energy project developer. The transaction includes five operational solar projects, namely the 200 MWdc Wellington Solar, the 425 MWdc Wellington North Solar, the 107 MWdc West Wyalong Solar, the 214 MWdc Woolooga Solar, and the 90 MWdc Wunghnu Solar projects. The portfolio also comprises a development pipeline of up to 800 MW of co-located battery energy storage systems.
Lydian Energy, an independent power producer, <a href="https://cms.mercomindia.com/lydian-energy-secures-689-million-for-solar-and-battery-storage-projects/" target="_blank" rel="noopener">closed</a> a $689 million financing for two solar and one battery storage projects located across three states in the U.S. The full-stack financing, backed by CIBC and MUFG, comprises a construction-to-term loan, a tax credit bridge loan, a co-investment bridge loan, and a letter of credit facility. Lydian’s current portfolio includes 18 solar and storage projects with a combined capacity of 4.4 GW. The company is backed by the clean energy infrastructure fund Excelsior Energy Capital.
Sun Investment Group, a vertically integrated European renewable energy company, <a href="https://cms.mercomindia.com/sun-investment-group-secures-38-million-59-mw-solar-portfolio/" target="_blank" rel="noopener">closed</a> a €32.5 million (~$38 million) financing for a portfolio of solar projects in Poland. NORD/LB provided the construction bridge financing, including a VAT facility. The portfolio comprises 32 ready-to-build projects with a combined capacity of 59 MWp, at various stages of development, including both ready-to-build and under-construction projects.
CleanChoice Energy, a renewable energy company, will <a href="https://cms.mercomindia.com/cleanchoice-energy-to-acquire-222-mw-of-solar-projects/" target="_blank" rel="noopener">acquire</a> two solar projects totaling 222.2 MWdc, located in Halifax and Bertie counties in North Carolina. The company is acquiring the projects from utility-scale energy project developer Geenex, which began developing these projects in 2017. Construction on the Sumac and Sweetleaf projects is expected to begin in early 2027, with interconnection planned for 2028.
Swift Current Energy, a company that develops, commercializes, owns, and operates utility-scale solar, wind, and energy storage projects, has <a href="https://cms.mercomindia.com/swift-current-energy-raises-248-million-in-project-financing/" target="_blank" rel="noopener">secured</a> tax equity financing and $248 million in project financing for its 122 MWdc (100 MWac) Three Rivers solar project in eastern Maine, located in Hancock County. Currently under construction, the project is expected to reach commercial operation by the end of 2026. The clean electricity produced from the project is fully contracted under a 20-year power purchase agreement.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-greenbacker-closes-440-million-tax-equity-financing/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Atlas Renewable Secures $3 Billion Refinancing

<a href="https://cleanchoiceenergy.com/" target="_blank" rel="noopener">CleanChoice Energy</a>, a renewable energy company, will acquire two solar projects with a combined capacity of 222.2 MWdc, located in Halifax and Bertie counties in North Carolina.
The company is acquiring the projects from utility-scale energy project developer <a href="https://www.geenexpower.com/" target="_blank" rel="noopener">Geenex</a>, which began developing these projects in 2017.
Construction on the Sumac and Sweetleaf projects is expected to begin in early 2027, with interconnection planned for 2028. Upon completion, the Sumac Project will generate 103.92 MWdc, and the Sweetleaf Project will generate 118.3 MWdc. Both projects will connect to the PJM grid.
“The Sumac and Sweetleaf projects represent a pivotal step in our evolution into a fully integrated clean energy company that builds, owns, and delivers renewable power directly to customers,” said Zoë Gamble, President of CleanChoice. “As electricity demand accelerates nationwidee, we’re investing in high-capacity solar infrastructure that strengthens grid reliability, expands domestic energy supply, and gives more households access to locally sourced, pollution-free power.”
With these acquisitions, the company will triple its generation capacity to 331.99 MW and expand its clean energy generation business into the Southeast region of the country.
Currently, CleanChoice operates a solar project in Franklin County, Pennsylvania, which is interconnected to the PJM electric grid, and is constructing additional projects in Kylertown, Pennsylvania, Washington County, New York, and Rensselaer County, New York.
In June 2025, CleanChoice Energy announced the <a href="https://cms.mercomindia.com/cleanchoice-energy-acquires-54-2-mw-solar-projects/" target="_blank" rel="noopener">acquisition</a> of two solar projects totaling 54.2 MW in New York State from CS Energy, a solar project developer. Both solar projects will have a capacity of 27.1 MW each, with the Dolan project located in Washington County and the Hawthorn project in Rensselaer County.
According to Mercom’s 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>, approximately 37.4 GW of solar projects were acquired in 2025, compared to 37.7 GW in 2024.
In February, Bestinver, Acciona’s asset management arm, <a href="https://cms.mercomindia.com/ist3-infrastruktur-global-acquires-91-mw-solar-portfolio/" target="_blank" rel="noopener">sold</a> a portfolio of solar projects with a total installed capacity of 91 MW in Spain to Zurich-based IST3 Infrastruktur Global, an infrastructure investment vehicle backed by Swiss pension funds.

CleanChoice Energy to Acquire 222 MW of Solar Projects

Scatec, a renewable energy solutions provider, has <a href="https://cms.mercomindia.com/scatec-secures-479-million-for-solar-and-storage-project-in-egypt/" target="_blank" rel="noopener">secured</a> $479.1 million of non-recourse project financing to develop the Obelisk hybrid solar and battery storage project located in Egypt. The funding, which corresponds to approximately 80% of the total estimated capital expenditure of $590 million, was provided by the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and British International Investment (BII). The project, which has a total capacity of 1.1 GW Solar and 100/200 MWh battery energy storage, will be constructed in two phases.
CleanChoice Energy, a U.S.-based renewable energy company, <a href="https://cms.mercomindia.com/cleanchoice-energy-acquires-54-2-mw-solar-projects/" target="_blank" rel="noopener">announced</a> the acquisition of two solar projects totaling 54.2 MW in New York State from CS Energy, a solar project developer. Both solar projects will have a capacity of 27.1 MW each, with the Dolan project located in Washington County and the Hawthorn project in Rensselaer County. The construction of the projects is expected to begin in the fall of 2025, with a planned interconnection date in the fourth quarter of 2026.
Earthrise Energy, a renewable energy independent power producer, <a href="https://cms.mercomindia.com/earthrise-secures-630-million-financing-for-260-mw-solar-project/" target="_blank" rel="noopener">announced</a> the closing of $630 million in tax equity and debt financing for its 260 MWac Gibson City solar project within Illinois’s MISO power market. The project is expected to reach commercial operation in 2026. The debt financing includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility.
Lightsource bp, a solar project developer, <a href="https://cms.mercomindia.com/lightsource-bp-secures-200-million-financing-for-115-mw-fishery-solar-projects/" target="_blank" rel="noopener">secured</a> around TWD 6 billion (~$200 million) in financing for its 115 MWp fishery solar project in Budai and Yizhu Township, Chiayi County, Taiwan. The project’s construction is expected to begin in June 2025. The Budai project is expected to produce 180,000 MWh of renewable energy annually once operational.
Soltage, an independent power producer and developer of utility-scale solar and energy storage projects across the U.S., <a href="https://cms.mercomindia.com/soltage-secures-260m-financing-solar-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of a $260 million construction and term debt financing facility to support the near-term deployment of solar and storage projects from the company’s more than 2 GW development pipeline across the U.S.
Ingka Investments, the investment arm of Ingka Group, <a href="https://cms.mercomindia.com/ingka-investments-acquires-76-3-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 76.3 MW solar project portfolio in the Netherlands from the SUSI Renewable Energy Fund II, an investment vehicle managed by SUSI Partners, a Swiss-based infrastructure investment manager.  The portfolio comprises three operating solar projects: 54.36 MW Scaldia, 11.72 MW Achtkarspelen, and 10.20 MW De Kie.
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-enlight-secures-hybrid-renewable-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Scatec Secures $479 Million for Solar and Storage Project in Egypt

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/06/amazon_polly_80881.mp3?version=1750223448">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/project-finance-brief-scatec-solar-storage-project-egypt/" target="_blank" rel="noopener">Mercom Capital Group</a>
Scatec, a renewable energy solutions provider, has <a href="https://mercomcapital.com/scatec-secures-479-million-for-solar-and-storage-project-in-egypt/" target="_blank" rel="noopener">secured</a> $479.1 million of non-recourse project financing to develop the Obelisk hybrid solar and battery storage project located in Egypt. The funding, which corresponds to approximately 80% of the total estimated capital expenditure of $590 million, was provided by the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and British International Investment (BII). The project, which has a total capacity of 1.1 GW Solar and 100/200 MWh battery energy storage, will be constructed in two phases.
CleanChoice Energy, a U.S.-based renewable energy company, <a href="https://mercomcapital.com/cleanchoice-energy-acquires-54-2-mw-solar-projects/" target="_blank" rel="noopener">announced</a> the acquisition of two solar projects totaling 54.2 MW in New York State from CS Energy, a solar project developer. Both solar projects will have a capacity of 27.1 MW each, with the Dolan project located in Washington County and the Hawthorn project in Rensselaer County. The construction of the projects is expected to begin in the fall of 2025, with a planned interconnection date in the fourth quarter of 2026.
Earthrise Energy, a renewable energy independent power producer, <a href="https://mercomcapital.com/earthrise-secures-630-million-financing-for-260-mw-solar-project/" target="_blank" rel="noopener">announced</a> the closing of $630 million in tax equity and debt financing for its 260 MWac Gibson City solar project within Illinois’s MISO power market. The project is expected to reach commercial operation in 2026. The debt financing includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility.
Lightsource bp, a solar project developer, <a href="https://mercomcapital.com/lightsource-bp-secures-200-million-financing-for-115-mw-fishery-solar-projects/" target="_blank" rel="noopener">secured</a> around TWD 6 billion (~$200 million) in financing for its 115 MWp fishery solar project in Budai and Yizhu Township, Chiayi County, Taiwan. The project’s construction is expected to begin in June 2025. The Budai project is expected to produce 180,000 MWh of renewable energy annually once operational.
Soltage, an independent power producer and developer of utility-scale solar and energy storage projects across the U.S., <a href="https://mercomcapital.com/soltage-secures-260m-financing-solar-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of a $260 million construction and term debt financing facility to support the near-term deployment of solar and storage projects from the company’s more than 2 GW development pipeline across the U.S.
Ingka Investments, the investment arm of Ingka Group, <a href="https://mercomcapital.com/ingka-investments-acquires-76-3-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 76.3 MW solar project portfolio in the Netherlands from the SUSI Renewable Energy Fund II, an investment vehicle managed by SUSI Partners, a Swiss-based infrastructure investment manager.  The portfolio comprises three operating solar projects: 54.36 MW Scaldia, 11.72 MW Achtkarspelen, and 10.20 MW De Kie.
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-enlight-secures-hybrid-renewable-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://cleanchoiceenergy.com/" target="_blank" rel="noopener">CleanChoice Energy</a>, a U.S.-based renewable energy company, announced the acquisition of two solar projects totaling 54.2 MW in New York State from CS Energy, a solar project developer.
Both solar projects will have a capacity of 27.1 MW each, with the Dolan project located in Washington County and the Hawthorn project in Rensselaer County.
The construction of the projects is expected to begin in the fall of 2025, with a planned interconnection date in the fourth quarter of 2026. Once the projects are completed, both will interconnect to the National Grid.
CS Energy has led the development of both projects for the past five years. The financial details of the acquisition were not disclosed.
Recently, the company has unveiled its first solar project, located in Franklin County, Pennsylvania, and is also continuing construction on a second project in Kylertown, Pennsylvania.
&#8220;CleanChoice Energy is committed to making renewable energy more accessible, and our two solar projects in New York will soon double the amount of clean energy that we deliver to the Mid-Atlantic region,&#8221; said Zoë Gamble, President of CleanChoice. &#8220;With electric grids struggling to keep up with ever-increasing demand, along with growing consumer demand for more sustainable energy options, investing in solar generation is a win-win solution for everyone.&#8221;
In April 2023, True Green Capital Management, a renewable energy infrastructure investment firm, announced the acquisition of majority ownership in CleanChoice Energy.
According to Mercom&#8217;s Q1 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.
Earlier this month, Ingka Investments, the investment arm of Ingka Group, <a href="https://mercomcapital.com/ingka-investments-acquires-76-3-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 76.3 MW solar project portfolio in the Netherlands from the SUSI Renewable Energy Fund II, an investment vehicle managed by SUSI Partners, a Swiss-based infrastructure investment manager.

CleanChoice Energy Acquires 54.2 MW Solar Projects

Primergy Solar, a developer of distributed and utility-scale solar and battery storage projects, has <a href="https://cms.mercomindia.com/primergy-secures-350-million-for-408-mw-solar-project/" target="_blank" rel="noopener">secured</a> $350 million in tax equity financing for the 408 MWac Ash Creek solar project in Hill County, Texas. A Fortune 500 telecommunications company led the tax equity investment, with additional funding provided by Truist Bank. The project is under construction and is expected to reach commercial operation in early 2025.
Redeux Energy, a utility-scale solar and storage project developer, <a href="https://cms.mercomindia.com/redeux-energy-sells-200-mw-solar-plus-storage-project/" target="_blank" rel="noopener">announced</a> the sale 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.
Independent power producer AMPIN Energy Transition has <a href="https://www.mercomindia.com/ampin-financial-closure-200-mw-hybrid-project" target="_blank" rel="noopener">announced</a> the financial closure for its 200 MW wind-solar hybrid project in Rajasthan, with the final step achieved through a green loan of ₹7.42 billion (~$88.27 million) from Standard Chartered. The total investment for this project is ₹9.44 billion (~$112.3 million). The hybrid project is expected to generate approximately 435 million units of renewable electricity annually.
CleanChoice Energy, a clean energy provider, announced the <a href="https://cms.mercomindia.com/cleanchoice-energy-acquires-29-mw-solar-project-in-pennsylvania/" target="_blank" rel="noopener">acquisition</a> of a 29.42 MW solar project in Kylertown, Pennsylvania. The company acquired the project from Prospect14, which led the siting and greenfield development. The construction of the Kylertown solar project is expected to begin in Q4 2024 and will be the second project CleanChoice owns and operates, among multiple projects in its pipeline.
Rezolv Energy, an independent power producer backed by Actis, <a href="https://cms.mercomindia.com/rezolv-energy-secures-98-million-in-debt-financing-for-solar-project/" target="_blank" rel="noopener">secured</a> up to €90 million (~$98.09 million) in debt financing to develop and construct the 225 MW St. George solar park in northeastern Bulgaria. The International Finance Corporation and Raiffeisen Bank International provided the funding. The project’s construction will begin soon and is expected to reach commercial operation in 2025.
GreenGo, a renewable energy project developer, <a href="https://cms.mercomindia.com/greengo-secures-35-million-financing-for-41-8-mw-solar-project-portfolio/" target="_blank" rel="noopener">secured</a> €32.6 million (~$35.6 million) in financing from Intesa Sanpaolo, an Italian bank, to construct eight new solar projects in Italy with a combined capacity of 41.8 MW. Of these eight projects, four are in Calabria, totaling 22.8 MW; three are in Sicily, with a combined capacity of 13.7 MW; and one in Marche, with a capacity of 5.3 MW.
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-mainstream-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Primergy Secures $350 Million for 408 MW Solar Project

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/10/amazon_polly_71637.mp3?version=1729668981">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/project-finance-brief-primergy-secures-solar-project-2/" target="_blank" rel="noopener">Mercom Capital Group</a>
Primergy Solar, a developer of distributed and utility-scale solar and battery storage projects, has <a href="https://mercomcapital.com/primergy-secures-350-million-for-408-mw-solar-project/" target="_blank" rel="noopener">secured</a> $350 million in tax equity financing for the 408 MWac Ash Creek solar project in Hill County, Texas. A Fortune 500 telecommunications company led the tax equity investment, with additional funding provided by Truist Bank. The project is under construction and is expected to reach commercial operation in early 2025.
Redeux Energy, a utility-scale solar and storage project developer, <a href="https://mercomcapital.com/redeux-energy-sells-200-mw-solar-plus-storage-project/" target="_blank" rel="noopener">announced</a> the sale 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.
Independent power producer AMPIN Energy Transition has <a href="https://www.mercomindia.com/ampin-financial-closure-200-mw-hybrid-project" target="_blank" rel="noopener">announced</a> the financial closure for its 200 MW wind-solar hybrid project in Rajasthan, with the final step achieved through a green loan of ₹7.42 billion (~$88.27 million) from Standard Chartered. The total investment for this project is ₹9.44 billion (~$112.3 million). The hybrid project is expected to generate approximately 435 million units of renewable electricity annually.
CleanChoice Energy, a clean energy provider, announced the <a href="https://mercomcapital.com/cleanchoice-energy-acquires-29-mw-solar-project-in-pennsylvania/" target="_blank" rel="noopener">acquisition</a> of a 29.42 MW solar project in Kylertown, Pennsylvania. The company acquired the project from Prospect14, which led the siting and greenfield development. The construction of the Kylertown solar project is expected to begin in Q4 2024 and will be the second project CleanChoice owns and operates, among multiple projects in its pipeline.
Rezolv Energy, an independent power producer backed by Actis, <a href="https://mercomcapital.com/rezolv-energy-secures-98-million-in-debt-financing-for-solar-project/" target="_blank" rel="noopener">secured</a> up to €90 million (~$98.09 million) in debt financing to develop and construct the 225 MW St. George solar park in northeastern Bulgaria. The International Finance Corporation and Raiffeisen Bank International provided the funding. The project’s construction will begin soon and is expected to reach commercial operation in 2025.
GreenGo, a renewable energy project developer, <a href="https://mercomcapital.com/greengo-secures-35-million-financing-for-41-8-mw-solar-project-portfolio/" target="_blank" rel="noopener">secured</a> €32.6 million (~$35.6 million) in financing from Intesa Sanpaolo, an Italian bank, to construct eight new solar projects in Italy with a combined capacity of 41.8 MW. Of these eight projects, four are in Calabria, totaling 22.8 MW; three are in Sicily, with a combined capacity of 13.7 MW; and one in Marche, with a capacity of 5.3 MW.
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-mainstream-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://cleanchoiceenergy.com/" target="_blank" rel="noopener">CleanChoice Energy</a>, a clean energy provider, announced the acquisition of a 29.42 MW solar project in Kylertown, Pennsylvania. The company acquired the project from Prospect14, which led the siting and greenfield development.
The construction of the Kylertown solar project is expected to begin in Q4 2024 and will be the second project CleanChoice owns and operates, among multiple projects in its pipeline.
The project has a planned interconnection date of October 2025. Upon completion, the project will be connected to the PJM electric grid, which supplies renewable electricity to utilities in Pennsylvania, New Jersey, and the surrounding regions.
According to CleanChoice Energy, the solar project will produce enough clean electricity to supply over 5,100 households once operational.
“Our project in Kylertown will double CleanChoice Energy’s solar generation assets, as well as demonstrate how responsible renewable energy generation can support the local community and wildlife,” said Zoë Gamble, President of CleanChoice. “This is part of our long-term strategy to support the growth of 100% green energy in the U.S. and make it more accessible to people &#8211; a solution that is critically needed as we all face the dire consequences of climate change.”
According to Mercom’s recently released 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.
Earlier this month, Enerside, a Spain-based vertically integrated solar company, announced the <a href="https://cms.mercomindia.com/enerside-sells-5-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">sale</a> of two Brazilian distributed-generation solar projects totaling 5 MW (6.6 MWp) to IVI ENERGIA, a Brazilian energy company owned by investment fund Brookfield Renovables. Brazilian industrial group Raízen signed a lease contract with Enerside to receive renewable energy produced by the project.

cleanchoice-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS