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Samsung C&amp;T Renewables, a renewable energy development and investment company and the renewable energy corporation of South Korea’s Samsung C&amp;T in the U.S., <a href="https://cms.mercomindia.com/samsung-ct-renewables-sells-solar-energy-storage-projects/" target="_blank" rel="noopener">signed</a> a contract for sale and development services for a 3 GW solar and ESS (energy storage system) project in southern Texas to Sunraycer Renewables. The portfolio sold consists of 15 projects, of which 1 GW is from six solar projects and 2 GW from 9 ESS projects.
Dimension Renewable Energy, a community solar project developer, <a href="https://cms.mercomindia.com/dimension-renewable-energy-secures-project-financing/" target="_blank" rel="noopener">secured</a> $237 million in financing for constructing a 120 MW distributed generation portfolio. Silicon Valley Bank , a division of First Citizens Bank, acted as lead debt syndicator, with NT Solar and Advantage Capital arranging the tax equity. The portfolio comprises 28 solar projects located across New York, New Jersey, Virginia, and California.
Ethical Power, a utility-scale solar and storage project developer, <a href="https://www.thriverenewables.co.uk/latest-news/news/new-deal-with-ethical-power-will-help-double-thrive-s-impact/" target="_blank" rel="noopener">secured</a> £20M (~$25M) loan facility from Thrive Renewables for the development and construction of two 25 MW battery storage and four solar projects (142 MW in total) across the UK over the next three to five years.
IGNIS, a vertically integrated renewable energy company, <a href="https://cms.mercomindia.com/ignis-secures-financing-solar-projects-spain/" target="_blank" rel="noopener">achieved</a> a financial closing amounting to €335 million (~$357.47 million) for the development of 500 MW of solar projects in Spain. The loan was led by Deutsche Bank, which also acted as sole underwriter, with the participation of Rabobank, ABN Amro and Triodos Bank. IGNIS was advised by Cuatrecasas and the financial institutions by Clifford Chance.
Nexwell Power, a UK-based company that builds and operates solar PV installations, <a href="https://cms.mercomindia.com/nexwell-power-secures-financing-for-46-mw-solar-projects/" target="_blank" rel="noopener">announced</a> the signing of a financing agreement with Coöperatieve Rabobank U.A. for a total amount of €37 million (~$39.77 million). The funding will be utilized to construct seven new plants located in Andalusia and Extremadura totaling 46 MW. The projects are expected to start delivering power in 2024.
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-matrix-renewables-secures-financing/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Samsung Sells 3 GW Solar and Energy Storage Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-samsung-sells-solar-energy-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Samsung C&amp;T Renewables, a renewable energy development and investment company and the renewable energy corporation of South Korea’s Samsung C&amp;T in the U.S., <a href="https://mercomcapital.com/samsung-ct-renewables-sells-solar-energy-storage-projects/" target="_blank" rel="noopener">signed</a> a contract for sale and development services for a 3 GW solar and ESS (energy storage system) project in southern Texas to Sunraycer Renewables. The portfolio sold consists of 15 projects, of which 1 GW is from six solar projects and 2 GW from 9 ESS projects.
Dimension Renewable Energy, a community solar project developer, <a href="https://mercomcapital.com/dimension-renewable-energy-secures-project-financing/" target="_blank" rel="noopener">secured</a> $237 million in financing for constructing a 120 MW distributed generation portfolio. Silicon Valley Bank , a division of First Citizens Bank, acted as lead debt syndicator, with NT Solar and Advantage Capital arranging the tax equity. The portfolio comprises 28 solar projects located across New York, New Jersey, Virginia, and California.
Ethical Power, a utility-scale solar and storage project developer, <a href="https://www.thriverenewables.co.uk/latest-news/news/new-deal-with-ethical-power-will-help-double-thrive-s-impact/" target="_blank" rel="noopener">secured</a> £20M (~$25M) loan facility from Thrive Renewables for the development and construction of two 25 MW battery storage and four solar projects (142 MW in total) across the UK over the next three to five years.
IGNIS, a vertically integrated renewable energy company, <a href="https://mercomcapital.com/ignis-secures-financing-solar-projects-spain/" target="_blank" rel="noopener">achieved</a> a financial closing amounting to €335 million (~$357.47 million) for the development of 500 MW of solar projects in Spain. The loan was led by Deutsche Bank, which also acted as sole underwriter, with the participation of Rabobank, ABN Amro and Triodos Bank. IGNIS was advised by Cuatrecasas and the financial institutions by Clifford Chance.
Nexwell Power, a UK-based company that builds and operates solar PV installations, <a href="https://mercomcapital.com/nexwell-power-secures-financing-for-46-mw-solar-projects/" target="_blank" rel="noopener">announced</a> the signing of a financing agreement with Coöperatieve Rabobank U.A. for a total amount of €37 million (~$39.77 million). The funding will be utilized to construct seven new plants located in Andalusia and Extremadura totaling 46 MW. The projects are expected to start delivering power in 2024.
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-matrix-renewables-secures-financing/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.dimension-energy.com/" target="_blank" rel="noopener">Dimension Renewable Energy</a>, a community solar project developer, secured $237 million in financing for constructing a 120 MW distributed generation portfolio. Silicon Valley Bank (SVB), a division of First Citizens Bank, acted as lead debt syndicator, with NT Solar and Advantage Capital arranging the tax equity.
The portfolio comprises 28 solar projects located across New York, New Jersey, Virginia, and California and is expected to provide local solar energy to more than 12,000 residential and commercial customers, with over half of the portfolio dedicated to serving low- and moderate-income households.
“We are pleased to partner with leading solar lenders and tax equity institutions as we accelerate the growth of community solar across the United States,” said Rafael Dobrzynski, Co-Founder and CEO of Dimension. “Our strong capital position demonstrates Dimension’s leadership in building the country’s leading community solar IPP, as we lead the way in making the benefits of solar energy accessible to all.”CohnReznick Capital acted as the exclusive financial advisor to Dimension. Stoel Rives acted as counsel for Dimension, and Milbank acted as counsel for SVB and lenders.
Bret Turner, Head of Project Finance Business Development and Innovation for Silicon Valley Bank, said, “We are thrilled to have led and structured Dimension’s inaugural project financing for this important portfolio of community solar projects for the company. Silicon Valley Bank is excited to support Dimension as they help to make clean energy affordable, accessible, equitable, and flexible for residents and businesses.”
According to Mercom’s 1H and Q2 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, the announced large-scale project funding in Q2 2023 reached $9.5 billion in 51 deals, a 79% increase QoQ compared to $5.3 billion raised in 62 deals in Q1 2023.
GreenYellow, a renewable energy project developer, <a href="https://cms.mercomindia.com/greenyellow-secures-financing-for-solar-projects/" target="_blank" rel="noopener">recently</a> secured €31 million (~$33.25 million) financing with Caisse d’Epargne CEPAC, acting as Mandated Arranger, and Natixis, acting as Cover Bank for the construction of 55 solar power plants totaling 32 MW in mainland France and the French overseas territories.

Dimension Renewable Energy Secures $237 Million Project Financing

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