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

<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/2026/03/amazon_polly_92060.mp3?version=1773811924">
			</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-prime-infra-secures-4-6b-for-pumped-hydro-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Prime Infra, an infrastructure developer and operator, <a href="https://mercomcapital.com/prime-infra-secures-4-6-billion-for-pumped-hydro-storage-projects/" target="_blank" rel="noopener">closed</a> two financing agreements totaling Php273.47 billion (~$4.6 billion). According to the company, the funding will finance the ongoing construction of the 1,400 MW Pakil Pumped Storage Hydropower Project of Ahunan Power in the Philippines’ Laguna province and the 600 MW Wawa Pumped Storage Hydropower Project of Olympia Violago Water &amp; Power in the Rizal province.
ENERPARC AG, a European solar project developer and independent power producer, <a href="https://mercomcapital.com/enerparc-secures-1-billion-debt-financing-solar-storage-projects/" target="_blank" rel="noopener">secured</a> a €1 billion (~$1.15 billion) debt package to support the continued expansion of its solar and battery storage pipeline across the company’s core markets. This new financing package, provided by a consortium of three global asset managers and a German state bank, comprises a €500 million (~$577 million) loan. It also includes a long-term project financing framework of up to €425 million (~$490 million) with an accordion facility that could increase project financing to €500 million (~$577 million).
Primergy, a renewable energy project developer and portfolio company of Quinbrook, <a href="https://mercomcapital.com/primergy-secures-600-million-gemini-solar-storage-project/" target="_blank" rel="noopener">secured</a> refinancing through a $600 million private placement of senior secured notes, together with a $160 million letter of credit facility, for its Gemini solar plus storage project. The hybrid project comprises 690 MWac solar and 380 MWac of battery storage capacity. Since 2024, the project has been supplying energy from its site in Clark County, Nevada, U.S.
Enlight Renewable Energy, a renewable energy independent power producer and developer, <a href="https://mercomcapital.com/enlight-secures-304-million-for-crimson-orchard-solarstorage-project/" target="_blank" rel="noopener">announced</a> that its U.S. subsidiary, Clēnera, has secured $304 million in construction financing and term debt commitments for the Crimson Orchard project in Elmore County, Idaho. This deal is stated to bring Enlight’s total project financing to $3 billion.
Zelestra, a renewable energy project developer, <a href="https://mercomcapital.com/zelestra-closes-176-million-financing-for-babilonia-solar-project/" target="_blank" rel="noopener">reached</a> financial close on the 242 MWdc Babilonia solar project in Perú through a $176 million green financing package. The facility has been agreed with Natixis CIB and BBVA Perú. The Babilonia solar project is part of the La Joya complex in Arequipa, which is expected to have a total planned capacity of nearly 700 MW. This capacity comprises Zelestra’s operational 300 MW San Martin project and the 125 MW San Joaquin project, which is in advanced development.
GridStor, a developer and operator of utility-scale battery energy storage projects, <a href="https://mercomcapital.com/gridstor-secures-120-million-financing-for-300-mwh-bess-project-in-texas/" target="_blank" rel="noopener">announced</a> the closing of a $120 million financing package provided by lending partners NORD/LB and Siemens Financial Services. The funding will support the Gunnar Reliability Project, a 150 MW/300 MWh battery energy storage project in Hidalgo County, Texas.
Mahindra Susten, the clean-tech platform of the Mahindra Group, <a href="https://www.mercomindia.com/mahindra-susten-secures-%E2%82%B910-25-billion-for-300-mw-renewable-project-in-rajasthan" target="_blank" rel="noopener">achieved</a> financial closure for NHPC’s 300 MW renewable energy project in Rajasthan. The project, developed by Hazel Hybren, a wholly owned subsidiary of Mahindra Susten, secured ₹10.25 billion (~$111.32 million) in financing from HDFC Bank. The project, which will supply power to NHPC, can now move into the next phase of development.
Renewable energy solutions provider Sunsure Energy <a href="https://www.mercomindia.com/sunsure-raises-%E2%82%B96-billion-in-debt-financing-from-aseem-infra-and-rbl-bank" target="_blank" rel="noopener">raised</a> ₹6.06 billion (~$65.64 million) in debt financing from Aseem Infrastructure Finance and RBL Bank to develop solar energy projects across Maharashtra and Uttar Pradesh. The financing package includes ₹4.62 billion (~$50.02 million) from Aseem Infrastructure Finance for solar projects in Maharashtra and Uttar Pradesh, along with ₹1.44 billion (~$15.59 million) in refinancing from RBL Bank for Sunsure’s solar project in Augasi, Uttar Pradesh.
Renewable energy solutions company KPI Green Energy <a href="https://www.mercomindia.com/kpi-green-secures-%E2%82%B99-79-billion-loan-for-150-mw-wind-project-in-gujarat" target="_blank" rel="noopener">secured</a> ₹9.79 billion (~$105.99 million), comprising a ₹9.31 billion (~$100.81 million) term loan and a ₹480 million (~$5.19 million) bank guarantee facility, from Canara Bank to develop a 150 MW wind power project in Gujarat. The project is backed by a 25-year power purchase agreement with the Gujarat Urja Vikas Nigam.
Cypress Creek Renewables, a U.S.-based solar and energy storage project developer, <a href="https://mercomcapital.com/cypress-creek-acquires-2-5-gw-solar-project-2-9-gwh-energy-storage/" target="_blank" rel="noopener">acquired</a> the Steel River project from Swift Current Energy, a renewable energy project developer. The Steel River project, currently under development in Mississippi County, Arkansas, will have 2.45 GW of solar generation paired with 2.9 GWh (720 MW) of battery storage capacity.
Sol Systems, a clean energy project developer and independent power producer, <a href="https://mercomcapital.com/sol-systems-acquires-250-mw-wolf-creek-renewable-energy-center/" target="_blank" rel="noopener">acquired</a> the Wolf Creek Renewable Energy Center from U.S.-based solar project developer US Solar. Located in Saline County, Illinois, the Wolf Creek is a 250 MW solar project built atop a subsurface mine. It is also adjacent to Sol’s 342 MWdc Eldorado solar project.
Aspen Power, a distributed energy generation platform, <a href="https://mercomcapital.com/aspen-power-acquires-first-five-projects-51-mw-solar-portfolio/" target="_blank" rel="noopener">acquired</a> the first five projects in a community solar portfolio spanning across New York and Illinois from Cipriani Energy Group, a renewable energy project developer. The initial projects, located in New York’s North County and Capital District, total 19.9 MWdc and are expected to begin construction in the coming months.
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-origis-secures-545-million" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Prime Infra Secures $4.6B for Pumped Hydro Projects

<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/2025/05/amazon_polly_79278.mp3?version=1746593186">
			</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-doral-renewables-funding-bend-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Doral Renewables, a utility-scale renewable energy project developer, <a href="https://mercomcapital.com/doral-renewables-secures-funding-for-the-great-bend-solar-project/" target="_blank" rel="noopener">closed</a> tax equity funding for its Great Bend solar project. Fifth Third Bank committed to investing up to $30 million of tax equity into the project. Located in Meigs County, Ohio, the 48 MWac project features a ground-mounted, single-axis PV system and is expected to be operational by Q4 2025. Doral Renewables and Fifth Third are also set to receive proceeds from a tax credit transfer transaction that will be finalized later this year.
Stonepeak, an alternative investment firm focused on infrastructure and real assets, has <a href="https://mercomcapital.com/stonepeak-to-acquire-46-3-stake-in-777-mw-solar-and-storage-project-portfolio/" target="_blank" rel="noopener">agreed</a> to acquire a 46.3% stake in Repsol’s 777 MW operating solar and storage portfolio in New Mexico and Texas for $340 million. Repsol is a Spanish energy and petrochemical company. The portfolio comprises the Fyre solar project and the Jicarilla solar and storage project. The transaction is expected to close during the third quarter of 2025, subject to customary regulatory approvals.
Cypress Creek Renewables, a solar and energy storage project developer, <a href="https://mercomcapital.com/cypress-creek-secures-150-million-financing-for-ostrea-solar-project/" target="_blank" rel="noopener">closed</a> $150 million in financing to support the development and construction of the 104 MW Ostrea solar project in Yakima County, Washington. The company also announced the beginning of construction of the project. The project is expected to reach commercial operation by mid-2026.
Indian Oil Corporation’s board of directors has <a href="https://www.mercomindia.com/indian-oil-invest-subsidiary-renewables-portfolio" target="_blank" rel="noopener">approved</a> an additional equity investment of ₹10.86 billion (~$129.44 million) in its wholly owned subsidiary, Terra Clean, to develop 4.3 GW renewable energy capacity. This decision adds to the previously approved 1 GW capacity. Terra Clean was incorporated on March 15, 2023. In April 2024, it received an initial equity investment of ₹13.03 billion (~$155.28 million) to develop its first 1 GW renewable energy capacity.
Voltalia, a renewable energy power producer, <a href="https://mercomcapital.com/voltalia-secures-over-26-million-financing-for-34-mw-solar-project/" target="_blank" rel="noopener">secured</a> £20 million (~$26.6 million) in debt financing for the 34 MW Eastgate solar project from Triodos Bank UK. The funding will support the construction and development of the project. The financial package comprises a senior debt loan of up to £18.9 million (~$25.11 million) and a Debt Service Reserve Facility (DSRF) of £1.1 million (~$1.46 million), which will provide crucial support during the project’s construction phase.
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-zelestra-secures-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Doral Renewables Closes Funding for the Great Bend 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/2025/03/amazon_polly_77566.mp3?version=1742358009">
			</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-cypress-creek-energy-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Cypress Creek Renewables, a renewable energy project developer and independent power producer, <a href="https://mercomcapital.com/cypress-creek-secures-133-million-financing-for-energy-storage-project/" target="_blank" rel="noopener">secured</a> approximately $133 million in funding to support the development of the 200 MW Destiny Energy Storage project in Texas. Destiny is a standalone battery energy storage project that is currently under construction and located in Harris County. The project is expected to be completed in early 2026.
Arevon Energy, a solar and energy storage project developer, <a href="https://mercomcapital.com/arevon-secures-509-million-financing-for-430-mw-solar-projects/" target="_blank" rel="noopener">announced</a> closing $509 million in financing for the 430 MWdc Kelso 1 &amp; 2 solar projects in Scott County, Missouri. The financing package comprises a $245 million bridge loan, a $172 million construction loan, and $92 million of credit support. The company will develop, build, and operate the two-phase Kelso solar projects, Arevon’s first utility-scale renewable energy projects in Missouri.
NorthStar Clean Energy, a renewable energy project developer and wholly owned subsidiary of CMS Energy, <a href="https://mercomcapital.com/northstar-clean-energy-secures-334-million-financing-for-two-solar-projects/" target="_blank" rel="noopener">secured</a> up to $334 million in construction-to-term financing for developing two solar projects in Michigan. The projects include a 200 MW solar project in Branch County and a 50 MW solar project in Genesee County. Once operational, the projects are expected to produce renewable-based electricity to power nearly 36,000 households annually.
Adapture Renewables, a utility-scale solar and energy storage project developer, <a href="https://mercomcapital.com/adapture-renewables-acquires-110-mw-solar-and-storage-project/" target="_blank" rel="noopener">announced</a> the acquisition of a 110 MW solar and 110 MW battery energy storage project from Samsung C&amp;T Renewables, the renewable development and investment platform of Samsung C&amp;T America. The project, known as Haynach Solar, is in Colorado and is expected to reach commercial operations by 2029. The company did not disclose the financial details of the acquisition.
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-smt-energy-funding-bess-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Cypress Creek Secures $133 Million for Energy Storage Project

<a href="https://ccrenew.com/" target="_blank" rel="noopener">Cypress Creek Renewables</a>, a developer and owner of solar generating assets has secured $200 million in equity investment. A group led by <a href="https://www.temasek.com.sg/en/index.html" target="_blank" rel="noopener">Temasek</a>, a global investment company headquartered in Singapore, has agreed to purchase preferred equity interests in Cypress Creek Renewables.
The $200 million investment represents the purchase by the group of preferred stock and warrants to purchase up to an aggregate 10 percent stake of the common stock. Proceeds will support the company’s continued growth through creation, investment, maturation and monetization of its development portfolio.
Cypress Creek Renewables will continue to operate under its existing management and add two independent directors to its board.
“Temasek has shown itself to be a patient, forward-looking partner focused on generating sustainable long-term returns – and it is this shared vision that makes expansion of our relationship quite natural,” said Cypress Creek Renewables CEO Matt McGovern.
“The confidence Temasek has shown in our business model and development portfolio is a firm endorsement of our strategy, which we look forward to refining and executing on in tandem in the years to come,” added McGovern.
“Our strategy focuses on creating markets, originating projects and allocating capital to the most attractive risk-adjusted opportunities, with success being driven by our ability to navigate development, structural and financial complexities as well as assessing and pricing risk,” commented Brad Bauer, Cypress Creek Renewables Chief Capital Markets Officer.
According to Mercom’s <a href="http://mercomcapital.com/total-corporate-funding-in-solar-sector-rises-yoy-with-$5.3-billion-in-1h-2018-reports-mercom-capital-group" target="_blank" rel="noopener">Solar Funding and M&amp;A Report</a>, global VC funding (venture capital, private equity, and corporate venture capital) for the solar sector in 1H 2018 was 36 percent lower with $458 million compared to the $716 million raised in the first half of 2017.

cypress-creek-renewables

Get the most relevant India solar and clean energy news.

RECENT POSTS