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Eolian, a U.S. developer, owner, and operator of renewable energy and energy storage infrastructure, <a href="https://cms.mercomindia.com/eolian-secures-463-million-financing-for-battery-energy-storage-project/" target="_blank" rel="noopener">secured</a> $463 million financing from Natixis Corporate and Investment Banking. The funding will be used for the development and construction of the Padua 2 and Padua 3 battery energy storage systems, totaling 350 MW/1.7 GWh, in Bexar County, Texas. The financing will support the completion of the final stages of the Padua Complex, which is projected to be finished by spring 2026.
Rivington Energy, a renewable energy solutions provider, has <a href="https://cms.mercomindia.com/rivington-energy-acquires-139-mw-solar-and-bess-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of three co-located solar and battery energy storage projects in the U.K. totaling 139 MW from GRIDSERVE, a developer and operator of renewable energy and EV charging infrastructure. The portfolio comprises two ready-to-build assets of 54 MW and 44 MW in Scunthorpe and Doncaster, and a pre-ready-to-build 41 MW project in Hartlepool.
Renewable energy company Hero Future Energies has <a href="https://www.mercomindia.com/hero-energies-secures-%E2%82%B919-8-billion-funding-from-sbi-canara-bank" target="_blank" rel="noopener">secured</a> a ₹19.8 billion (~$221 million) loan from public sector banks State Bank of India and Canara Bank to develop a 120 MW wind-solar hybrid project with energy storage systems. Hero has received the funding for its special purpose vehicle, Clean Renewable Energy Hybrid Three. The loan has a repayment tenure of 21 years.
Sembcorp Green Infra, a wholly owned subsidiary of Singapore-based energy solutions company Sembcorp Industries, has <a href="https://www.mercomindia.com/sembcorp-to-acquire-300-mw-solar-project-from-renew" target="_blank" rel="noopener">signed</a> a share purchase agreement with ReNew to acquire 100% of ReNew Sun Bright, its subsidiary, for approximately SGD246 million (~$190 million). ReNew Sun Bright’s 300 MW solar project in Fatehgarh, Rajasthan, commenced generation in November 2021.
Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, <a href="https://cms.mercomindia.com/altus-power-acquires-8-6-mw-of-solar-projects-from-origis-energy/" target="_blank" rel="noopener">announced</a> the acquisition of three ground-mounted solar projects in Florida from Origis Energy, a solar project developer. The acquired projects have a total capacity of 8.6 MW and are already generating and delivering power to a local utility through long-term power purchase agreements.
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-green-hedge-battery-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Eolian Secures $463 Million Financing for BESS Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-eolian-financing-bess-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Eolian, a U.S. developer, owner, and operator of renewable energy and energy storage infrastructure, <a href="https://mercomcapital.com/eolian-secures-463-million-financing-for-battery-energy-storage-project/" target="_blank" rel="noopener">secured</a> $463 million financing from Natixis Corporate and Investment Banking. The funding will be used for the development and construction of the Padua 2 and Padua 3 battery energy storage systems, totaling 350 MW/1.7 GWh, in Bexar County, Texas. The financing will support the completion of the final stages of the Padua Complex, which is projected to be finished by spring 2026.
Rivington Energy, a renewable energy solutions provider, has <a href="https://mercomcapital.com/rivington-energy-acquires-139-mw-solar-and-bess-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of three co-located solar and battery energy storage projects in the U.K. totaling 139 MW from GRIDSERVE, a developer and operator of renewable energy and EV charging infrastructure. The portfolio comprises two ready-to-build assets of 54 MW and 44 MW in Scunthorpe and Doncaster, and a pre-ready-to-build 41 MW project in Hartlepool.
Renewable energy company Hero Future Energies has <a href="https://www.mercomindia.com/hero-energies-secures-%E2%82%B919-8-billion-funding-from-sbi-canara-bank" target="_blank" rel="noopener">secured</a> a ₹19.8 billion (~$221 million) loan from public sector banks State Bank of India and Canara Bank to develop a 120 MW wind-solar hybrid project with energy storage systems. Hero has received the funding for its special purpose vehicle, Clean Renewable Energy Hybrid Three. The loan has a repayment tenure of 21 years.
Sembcorp Green Infra, a wholly owned subsidiary of Singapore-based energy solutions company Sembcorp Industries, has <a href="https://www.mercomindia.com/sembcorp-to-acquire-300-mw-solar-project-from-renew" target="_blank" rel="noopener">signed</a> a share purchase agreement with ReNew to acquire 100% of ReNew Sun Bright, its subsidiary, for approximately SGD246 million (~$190 million). ReNew Sun Bright’s 300 MW solar project in Fatehgarh, Rajasthan, commenced generation in November 2021.
Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, <a href="https://mercomcapital.com/altus-power-acquires-8-6-mw-of-solar-projects-from-origis-energy/" target="_blank" rel="noopener">announced</a> the acquisition of three ground-mounted solar projects in Florida from Origis Energy, a solar project developer. The acquired projects have a total capacity of 8.6 MW and are already generating and delivering power to a local utility through long-term power purchase agreements.
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-green-hedge-battery-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.eolianenergy.com/" target="_blank" rel="noopener">Eolian</a>, a U.S. developer, owner, and operator of renewable energy and energy storage infrastructure, secured $463 million financing package from Natixis Corporate and Investment Banking.
The funding will be used for the development and construction of the Padua 2 and Padua 3 battery energy storage systems, totaling 350 MW/1.7 GWh, in Bexar County, Texas.
The financing will support the completion of the final stages of the Padua Complex, which is projected to be finished by spring 2026. The projects are strategically situated near the retiring J.K. Spruce coal plant and the V.H. Braunig gas plant.
The first phase, Padua 1, a 50 MW system with a duration of roughly two hours, is already in commercial operation. Construction on Padua 2 and Padua 3 began earlier this summer, adding 150 MW and 200 MW of capacity, respectively, each designed for approximately five-hour discharge durations. All three projects utilize battery energy storage equipment supplied by Tesla.
“Under Governor Abbott&#8217;s leadership, Texas is showing the nation how to build energy infrastructure today that ensures sustained economic expansion for the future. By calling for and then passing into law new reliability products for the Texas grid, the Governor and the Legislature sent a clear market signal expressing the need and desire for the deployment of battery energy storage systems designed with four-hour or longer duration that directly led to our substantial investment in this project,&#8221; said Aaron Zubaty, CEO of Eolian. &#8220;Texas and the Padua Complex demonstrate how building battery energy storage at this speed and scale to meet urgent market needs and to better use the existing transmission network will act as a vital bridge between now and 2030, buying time to allow other technologies to scale and ramp up production and deployment while enabling continued load growth.&#8221;
According to Mercom&#8217;s 1H and Q2 2025 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">Report</a> for Energy Storage, announced Energy Storage project financing increased 168% year-over-year in 2025.
Green Genius, a renewable energy company, <a href="https://cms.mercomindia.com/green-genius-secures-30-million/" target="_blank" rel="noopener">closed</a> a €25.3 million (~$29.9 million) financing for the construction and development of a 196 MWh battery energy storage project in Antkalniškiai village, Jurbarkas district, Lithuania.

Eolian Secures $463 Million Financing for Battery Energy Storage Project

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					</table><a href="https://www.eolianenergy.com/" target="_blank" rel="noopener">Eolian</a>, a U.S.-based investor in renewable energy projects and a portfolio company of Global Infrastructure Partners (<a href="https://www.global-infra.com/" target="_blank" rel="noopener">GIP</a>), has announced the closing of a $515 million renewable energy green loan.
The company said the financing was secured by its diverse group of eligible green projects developed over the past two decades.
The financing saw investments from <a href="https://www.bancosantander.es/en/particulares" target="_blank" rel="noopener">Banco Santander</a>, Mitsubishi UFJ Financial Group (<a href="https://www.mufg.jp/english/index.html" target="_blank" rel="noopener">MUFG</a>), <a href="https://www.nab.com.au/" target="_blank" rel="noopener">National Australia Bank</a>, <a href="https://cib.natixis.com/home/" target="_blank" rel="noopener">Natixis Corporate and Investment Banking</a>, and Sumitomo Mitsui Banking Corporation (<a href="https://www.smbcgroup.com/" target="_blank" rel="noopener">SMBC</a>).
The financing is aligned with the four pillars of the Green Loan Principles, jointly published in February this year by the Asia Pacific Loan Market Association, the Loan Market Association, and the Loan Syndications and Trading Association, the company said in a statement.
J.C. Kreutz, Co-Head of Global Structured Finance, Americas at SMBC, said, &#8220;SMBC appreciates the opportunity to provide Eolian with financing that helps expand the use of green, renewable power in the U.S. We look forward to supporting Eolian in its continuing efforts to expand green generation and create additional value in this crucial sector.&#8221;
Eolian’s CEO Aaron Zubaty said, &#8220;The closing of this long-term financing with a club of five premier global lenders validates the broad appeal of Eolian as a sponsor and of its uniquely diversified and compelling clean energy portfolio. The expansion of our lending group will provide additional sources of capital to advance and scale our decarbonization strategies in the years ahead.&#8221;
Eolian has funded the development of more than 21 GW of operating energy storage, solar, and wind generating capacity across the U.S. to date.
The company recently closed the first-of-its-kind tax equity investment in two standalone utility-scale battery storage projects with 200 MW capacity in Mission, Texas.
Earlier this year, Aypa Power, a developer and owner of utility-scale energy storage and hybrid renewable projects, <a href="https://www.mercomindia.com/project-finance-brief-edf-acquires-solar-portfolio" target="_blank" rel="noopener">acquired</a> two standalone battery energy storage projects in Indiana from Blue Steel, a joint venture between Eolian and Open Road Renewables.
Last December, Saudi Arabia’s Public Investment Firm and GIP <a href="https://www.mercomindia.com/pif-buys-stake-in-germany-based-offshore-wind-portfolio" target="_blank" rel="noopener">acquired</a> a 9.5% stake in Germany-based offshore wind developer and operator Skyborn Renewables.

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