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					</table><a href="https://www.eiffel-ig.com/en/" target="_blank" rel="noopener">Eiffel Investment Group</a>, an independent asset manager, through its infrastructure funds, has agreed to acquire a 50% interest in a Norwegian portfolio from <a href="https://www.landinfra-energy.com/" target="_blank" rel="noopener">Landinfra Energy</a>, a Nordic renewable energy developer.
The company focuses on large-scale renewable energy and infrastructure projects covering onshore wind, offshore wind, energy storage, hydrogen, eFuels, and industrial projects.
Both companies have entered into an agreement to develop the portfolio jointly. Under the agreement, Landinfra will retain the remaining 50% stake. The portfolio comprises four projects located in the NO1 price area, with an aggregate planned capacity of approximately 886 MW of solar power and 177 MW of co-located battery storage.
The projects are in development. The first projects are planned to reach ready-to-build status in 2028, subject to obtaining all required permits.
If fully developed and constructed, the portfolio is expected to represent an investment of more than €700 million (~$810 million) and deliver approximately 900 GWh of renewable electricity annually to Norway’s power system.
“We are pleased to expand our successful partnership with Eiffel to include a portfolio of large-scale solar power projects with co-located battery energy storage in Norway. Eiffel is a leading European asset manager with extensive experience from development partnerships and infrastructure financing. Together, we bring the capabilities, experience, and financial strength required to develop new and much-needed renewable electricity generation in NO1,” says Marcus Landelin, CEO and Co-founder of Landinfra.
The transaction expands the partnership between Landinfra and Eiffel, announced in April 2024, which covers the joint development of up to 1,800 MW of renewable energy projects in Sweden.
Through the expanded partnership, Landinfra and Eiffel plan to combine Landinfra’s project origination and development capabilities in the Nordic region with Eiffel’s financing experience and its work on renewable energy infrastructure development across Europe.
According to Mercom’s Q1 2026 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.
In May 2026, SolarAfrica, an independent renewable power producer, signed an agreement to acquire the 315 MW Nyakallo solar and battery storage project in Limpopo, South Africa, from <a href="https://norskrenewables.com/" target="_blank" rel="noopener">Norsk Renewables</a>, a Norwegian renewable energy project developer. The project is expected to begin evacuating power by the second half of 2028.

Eiffel Investment Group to Acquire 50% Stake in Solar and Storage Portfolio

Recurrent Energy, a global developer, owner, and operator of solar and energy storage, <a href="https://cms.mercomindia.com/recurrent-energy-secures-funding-for-119-mw-horus-solar-project/" target="_blank" rel="noopener">secured</a> financial closure on the 119 MW Horus Solar project in Mexico. The solar project was closed under a non-recourse financing of $51 million provided by Korea Eximbank, South Korea’s official export credit agency, and KEB Hana Bank, one of South Korea’s largest banks.
ENGIE North America, a U.S.-based electric utility, <a href="https://cms.mercomindia.com/engie-secures-1-billion-financing-for-1-3-gw-renewable-projects/" target="_blank" rel="noopener">announced</a> the completion of more than $1 billion in tax equity financing for 1.3 GW of renewable energy projects in the U.S. The financing was secured through separate agreements with three banks, including J.P. Morgan, Goldman Sachs, and BNP Paribas. The financing pertains to a portfolio of recently commissioned renewable projects in the U.S. The overall portfolio consists of 6 projects across ERCOT, MISO, and SPP, including 950 MW of solar and 353 MW of wind capacity.
The European Bank for Reconstruction and Development and French asset manager Eiffel Investment Group extended a joint <a href="https://cms.mercomindia.com/ebrd-and-eiffel-provide-loan-solar-projects-poland/" target="_blank" rel="noopener">loan</a> of €45 million (~$48.83 million) to PL-SUN for the construction of a portfolio of solar power plants.
India-based BluPine Energy has expanded its renewable energy portfolio by <a href="https://www.mercomindia.com/blupine-energy-acquires-369-mw-of-solar" target="_blank" rel="noopener">acquiring</a> 369 MW of solar power assets from the ACME Group. The deal covers 14 special-purpose vehicle solar projects located across Uttarakhand, Punjab, and Karnataka. With this acquisition, BluPine’s total renewable capacity has grown to 2.4 GW.
Elawan Energy, a developer and operator in the renewable energy industry, has <a href="https://cms.mercomindia.com/elawan-energy-secures-163-million-for-renewable-project-portfolio-in-spain/" target="_blank" rel="noopener">closed</a> €150 million (~$162.76 million) in debt financing for a portfolio of renewable projects in Spain. The project is financed by ING, Banco Sabadell, Banco Santander, and Unicaja. Watson Farley &amp; Williams provided legal assistance to Elawan Energy through the transaction, while Clifford Chance advised the financers.
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 Secures Funding for 119 MW Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-recurrent-energy-funding-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Recurrent Energy, a global developer, owner, and operator of solar and energy storage, <a href="https://mercomcapital.com/recurrent-energy-secures-funding-for-119-mw-horus-solar-project/" target="_blank" rel="noopener">secured</a> financial closure on the 119 MW Horus Solar project in Mexico. The solar project was closed under a non-recourse financing of $51 million provided by Korea Eximbank, South Korea’s official export credit agency, and KEB Hana Bank, one of South Korea’s largest banks.
ENGIE North America, a U.S.-based electric utility, <a href="https://mercomcapital.com/engie-secures-1-billion-financing-for-1-3-gw-renewable-projects/" target="_blank" rel="noopener">announced</a> the completion of more than $1 billion in tax equity financing for 1.3 GW of renewable energy projects in the U.S. The financing was secured through separate agreements with three banks, including J.P. Morgan, Goldman Sachs, and BNP Paribas. The financing pertains to a portfolio of recently commissioned renewable projects in the U.S. The overall portfolio consists of 6 projects across ERCOT, MISO, and SPP, including 950 MW of solar and 353 MW of wind capacity.
The European Bank for Reconstruction and Development and French asset manager Eiffel Investment Group extended a joint <a href="https://mercomcapital.com/ebrd-and-eiffel-provide-loan-solar-projects-poland/" target="_blank" rel="noopener">loan</a> of €45 million (~$48.83 million) to PL-SUN for the construction of a portfolio of solar power plants.
India-based BluPine Energy has expanded its renewable energy portfolio by <a href="https://www.mercomindia.com/blupine-energy-acquires-369-mw-of-solar" target="_blank" rel="noopener">acquiring</a> 369 MW of solar power assets from the ACME Group. The deal covers 14 special-purpose vehicle solar projects located across Uttarakhand, Punjab, and Karnataka. With this acquisition, BluPine’s total renewable capacity has grown to 2.4 GW.
Elawan Energy, a developer and operator in the renewable energy industry, has <a href="https://mercomcapital.com/elawan-energy-secures-163-million-for-renewable-project-portfolio-in-spain/" target="_blank" rel="noopener">closed</a> €150 million (~$162.76 million) in debt financing for a portfolio of renewable projects in Spain. The project is financed by ING, Banco Sabadell, Banco Santander, and Unicaja. Watson Farley &amp; Williams provided legal assistance to Elawan Energy through the transaction, while Clifford Chance advised the financers.
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-strata-clean-energy-secures-storage-project/" target="_blank" rel="noopener">brief</a>.

The European Bank for Reconstruction and Development (<a href="https://www.ebrd.com/" target="_blank" rel="noopener">EBRD</a>) and French asset manager Eiffel Investment Group (Eiffel) made a joint loan of €45 million (~$48.83 million) to PL-SUN Sp.z.o.o for the construction of a portfolio of solar power plants.
PL-SUN Sp.z.o.o is a holding company incorporated in Poland to construct and operate a portfolio of solar plants. It is owned and sponsored by a Lithuanian closed-end investment company, UAB Atsinaujinančios Energetikos Investicijos (AEI), focused on renewable energy investments and managed by Lords LB Asset Management.
The construction bridge loan will finance the development of a portfolio of 16 solar projects totaling 114.7 MW across Poland. The plants are expected to generate a total of 122.5 GWh of electricity and save 88,000 tonnes of carbon dioxide emissions annually.
Andrius Stonkus, Partner and CIO at Lords LB, said: &#8220;This transaction is very significant for the development of Lords LB Asset Management portfolio of solar projects in Poland. I am glad that it not only contributes to the development of our renewable energy infrastructure in Poland but also meets the country&#8217;s green energy strategic goals.&#8221;
Elisabetta Falcetti, EBRD Regional Head for Poland and the Baltic states, added: &#8220;Unlocking additional financial resources for the renewables sector in Poland is crucial to meet the country&#8217;s ambitious green transition targets. I am particularly pleased that this first project under the EBRD and Eiffel partnership will – thanks to the efforts of Lords &#8211; increase the renewable energy generation capacity in Poland and support the country&#8217;s shift to a greener, more sustainable energy model.&#8221;
According to Mercom&#8217;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.
ib vogt, a renewable energy project developer, recently <a href="https://cms.mercomindia.com/ib-vogt-secures-376m-in-financing-spanish-solar-project-portfolio/" target="_blank" rel="noopener">achieved</a> financial closure for a 418 MW solar PV portfolio in Spain. The PV portfolio consists of three projects clustered around Segovia, in the autonomous community of Castile and León, Spain.

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