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SMT Energy, a developer, owner, and operator of battery energy storage projects, <a href="https://cms.mercomindia.com/smt-energy-secures-funding-for-160-mw-320-mwh-energy-storage-project/" target="_blank" rel="noopener">secured</a> $135 million in project financing to develop a 160 MW/320 MWh battery energy storage project in Houston, Texas, also known as SMT Houston IV. Macquarie and KeyBanc acted as the joint lead arrangers and provided $100 million in funding. The energy storage project is expected to start commercial operation in Q2 2026 and will be connected to the ERCOT power grid once completed.
Apex Energies, an independent renewable energy power producer, <a href="https://cms.mercomindia.com/apex-energies-secures-367-million-financing-for-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the closing of over €350 million (~$366.93 million) senior debt financing for developing a solar project portfolio in France. The financing will support the construction and development of nearly 1,100 ground-based, rooftop, and shade solar projects totaling over 400 MWp, of which 250 MWp are already at an advanced stage of development and/or under construction.
Ellomay Capital, a renewable energy project developer in Europe, the U.S., and Israel, <a href="https://cms.mercomindia.com/ellomay-capital-secures-114-million-financing-for-198-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> that its wholly owned subsidiary Ellomay Holdings Luxembourg Sarl entered into a project financing agreement amounting up to €110 million (~$114.11 million) for the construction of its 198 MW solar project portfolio in Italy.
Adani Green Energy has <a href="https://www.mercomindia.com/agel-refinances-1-06-billion-loan-for-wind-solar-projects-in-rajasthan" target="_blank" rel="noopener">completed</a> a long-term refinancing of $1.06 billion (~₹92.56 billion) for developing wind-solar projects in Rajasthan. This company’s maiden construction facility entails a door-to-door tenor of 19 years with a fully amortized debt structure aligned with the cash flow lifecycle. The refinancing aims to provide benefits through deep access to diverse pools of capital to secure large sums for a long duration.
Gurugram-based Sunsure Energy has <a href="https://www.mercomindia.com/sunsure-secures-%E2%82%B91-28-billion-loan-for-49-mw-solar-open-access-project" target="_blank" rel="noopener">secured</a> ₹1.28 billion (~$14.69 million) in long-term debt financing from Tata Capital and Aditya Birla Finance for its 49 MW open-access solar project in Augasi, Uttar Pradesh. This financing will support Sunsure’s commissioned 145 MW portfolio of solar open-access projects in the state. Tata Capital and ABFL will share the loan amount equally.
RES, a U.K.-based independent renewable energy developer, <a href="https://cms.mercomindia.com/res-sells-70-mw-battery-energy-storage-project-in-sweden/" target="_blank" rel="noopener">announced</a> the completion of the sale of a fully ready-to-build 70 MW/160 MWh battery energy storage project in Ånge, Sweden. Delta Capacity, a Swiss-based utility-scale battery storage project developer, acquired the project with financial backing from Wood &amp; Company, a European investment bank and asset manager.
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-nautilus-acquires-community-solar-projects-illinois/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: SMT Energy Secures Funding for 160 MW/320 MWh BESS Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-smt-energy-funding-bess-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
SMT Energy, a developer, owner, and operator of battery energy storage projects, <a href="https://mercomcapital.com/smt-energy-secures-funding-for-160-mw-320-mwh-energy-storage-project/" target="_blank" rel="noopener">secured</a> $135 million in project financing to develop a 160 MW/320 MWh battery energy storage project in Houston, Texas, also known as SMT Houston IV. Macquarie and KeyBanc acted as the joint lead arrangers and provided $100 million in funding. The energy storage project is expected to start commercial operation in Q2 2026 and will be connected to the ERCOT power grid once completed.
Apex Energies, an independent renewable energy power producer, <a href="https://mercomcapital.com/apex-energies-secures-367-million-financing-for-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the closing of over €350 million (~$366.93 million) senior debt financing for developing a solar project portfolio in France. The financing will support the construction and development of nearly 1,100 ground-based, rooftop, and shade solar projects totaling over 400 MWp, of which 250 MWp are already at an advanced stage of development and/or under construction.
Ellomay Capital, a renewable energy project developer in Europe, the U.S., and Israel, <a href="https://mercomcapital.com/ellomay-capital-secures-114-million-financing-for-198-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> that its wholly owned subsidiary Ellomay Holdings Luxembourg Sarl entered into a project financing agreement amounting up to €110 million (~$114.11 million) for the construction of its 198 MW solar project portfolio in Italy.
Adani Green Energy has <a href="https://www.mercomindia.com/agel-refinances-1-06-billion-loan-for-wind-solar-projects-in-rajasthan" target="_blank" rel="noopener">completed</a> a long-term refinancing of $1.06 billion (~₹92.56 billion) for developing wind-solar projects in Rajasthan. This company’s maiden construction facility entails a door-to-door tenor of 19 years with a fully amortized debt structure aligned with the cash flow lifecycle. The refinancing aims to provide benefits through deep access to diverse pools of capital to secure large sums for a long duration.
Gurugram-based Sunsure Energy has <a href="https://www.mercomindia.com/sunsure-secures-%E2%82%B91-28-billion-loan-for-49-mw-solar-open-access-project" target="_blank" rel="noopener">secured</a> ₹1.28 billion (~$14.69 million) in long-term debt financing from Tata Capital and Aditya Birla Finance for its 49 MW open-access solar project in Augasi, Uttar Pradesh. This financing will support Sunsure’s commissioned 145 MW portfolio of solar open-access projects in the state. Tata Capital and ABFL will share the loan amount equally.
RES, a U.K.-based independent renewable energy developer, <a href="https://mercomcapital.com/res-sells-70-mw-battery-energy-storage-project-in-sweden/" target="_blank" rel="noopener">announced</a> the completion of the sale of a fully ready-to-build 70 MW/160 MWh battery energy storage project in Ånge, Sweden. Delta Capacity, a Swiss-based utility-scale battery storage project developer, acquired the project with financial backing from Wood &amp; Company, a European investment bank and asset manager.
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-nautilus-acquires-community-solar-projects-illinois/" target="_blank" rel="noopener">brief</a>.

<a href="https://ellomay.com/" target="_blank" rel="noopener">Ellomay Capital</a>, a renewable energy project developer in Europe, the U.S., and Israel, announced that its wholly owned subsidiary Ellomay Holdings Luxembourg Sarl entered into a project financing agreement amounting up to €110 million (~$114.11 million) for the construction of its 198 MW solar project portfolio in Italy.
The portfolio comprises three solar projects already connected to the grid with a combined capacity of 38 MW and additional projects totaling 160 MW that are in ready-to-build stages.
The company closed the agreement with an undisclosed European institutional investor, which will be provided by way of senior secured notes to be issued in multiple tranches during the construction phase by a wholly owned subsidiary of Ellomay Luxembourg.
All notes are due on December 31, 2047, and are to be repaid in semi-annual installments. The financial closing of the project financing is expected to occur in the coming weeks.
The notes bear interest from and include the issue date to and exclude the maturity date at the rate of 4.50% per annum, to be paid semi-annually in arrears.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding in 2024 increased 21% year-over-year.
Last year, Ellomay Capital <a href="https://mercomcapital.com/renewable-developer-ellomay-sells-9-mw-solar-facility-israel/" target="_blank" rel="noopener">announced</a> that it had executed an agreement to sell its holdings in the 9 MW Talmei Yosef Solar facility in Israel to Greenlight Fund Limited Partnership and Doral Group Renewable Energy Resources, in equal parts, in consideration for NIS44.75 million (~$12.2 million). In addition, the company also <a href="https://mercomcapital.com/ellomay-solar-secures-financing-for-28-mw-solar-project/" target="_blank" rel="noopener">secured</a> financing for the 28 MW Ellomay solar project in Talaván, Cáceres, Spain, from Bankinter, a Spanish financial services company, for a term of 16 years.

Ellomay Capital Secures $114 Million Financing for 198 MW Solar Project Portfolio

<a href="https://ellomay.com/" target="_blank" rel="noopener">Ellomay Capital</a>, a renewable energy project developer in Europe, the U.S., and Israel, announced that it had executed an agreement to sell its holdings in the 9 MW Talmei Yosef Solar facility in Israel to Greenlight Fund Limited Partnership and Doral Group Renewable Energy Resources, in equal parts, in consideration for NIS44.75 million (~$12.2 million).
The agreement also provides for an additional potential payment of up to NIS4 million (~$1.09 million) if the solar facility generates more than 18 million kWh during 2024.
The agreement provides for a cutoff date of June 30, 2023, and the company will be entitled to all revenues of the Talmei Yosef Facility up to such date, net of expenses for the period.
It allows for customary exceptions with a cap of NIS9 million (~$2.46 million) and is limited to a period of 18 months from the closing date.
The solar facility is located in southern Israel, which currently is in the middle of a war zone. The entities have specified one of the conditions for closing as the end of the war in southern Israel and that the Talmei Yosef Facility be physically accessible.
Following the sale, the company will maintain the rights to the two projects under development located in the vicinity of the Talmei Yosef Facility: (i) a solar facility intended for 10 MW solar and 22 MWh battery storage capacity and (ii) a battery storage facility intended for approximately 400 MWh.
The completion of the sale is subject to various customary conditions to closing, including receipt of regulatory approvals and the consent of the financing entity of the Talmei Yosef Facility.
All conditions to closing are required to be fulfilled within a period of 90 days from execution of the agreement, which can be extended to up to 150 days under certain circumstances.
According to Mercom’s 9M and Q3 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, in the first nine months (9M) of 2023, there were 166 project acquisitions for 31.6 GW compared to 207 projects for 52.1 GW in 9M 2022.

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