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Zelestra, a renewable energy project developer, <a href="https://cms.mercomindia.com/zelestra-secures-113-million-for-81-mw-solar-project/" target="_blank" rel="noopener">secured</a> a $113 million project financing credit facility for the 81 MW Jasper County solar project in Jasper County, Indiana. Banco Santander acted as the sole arranger of the Facility. The project has long-term environmental attributes purchase agreement with Meta and is expected to be fully operational in Q4 2025.
Standard Solar, a community solar developer and asset owner, <a href="https://cms.mercomindia.com/standard-solar-acquires-39-mw-community-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 39 MW community solar portfolio in Illinois from New Leaf Energy, a clean energy project developer. The acquired portfolio comprises five community solar projects in towns across Illinois: Blackstone, Braceville, Dwight, Seneca, and Wadsworth.
Limes Renewable Energy, a developer of solar, wind, and energy storage projects, has completed the <a href="https://cms.mercomindia.com/limes-renewable-energy-sells-solar-wind-portfolio/" target="_blank" rel="noopener">sale</a> of a 287 MW solar and wind project portfolio in Italy to an undisclosed international independent power producer. The portfolio sold is split equally between solar PV and wind projects, with 50 MWp of solar PV projects already authorized.
Nexamp, a solar and energy storage project developer, <a href="https://cms.mercomindia.com/nexamp-secures-340-million-in-refinancing-for-solar-and-storage-project-portfolio/" target="_blank" rel="noopener">secured</a> a $340 million private placement debt refinancing with PGIM Private Capital, the private credit business of global asset manager PGIM. The financing will be used to support solar and storage projects across multiple states over the next three years. The refinancing covers a portfolio of 39 solar projects in seven states, representing 150 MW of solar and 37 MWh of storage capacity.
METLEN Energy &amp; Metals (METLEN), a Greek-based industrial and energy group and a wholly owned subsidiary of Glenfarne Asset Company (Glenfarne) has <a href="https://cms.mercomindia.com/glenfarne-to-acquire-solar-plus-storage-project-portfolio-in-chile/" target="_blank" rel="noopener">entered</a> into an agreement for Glenfarne to acquire a portfolio of Solar and Battery Energy Storage System assets in Chile. The transaction involves 588 MW of operational solar projects combined with 1,610 MWh of co-located BESS facilities.
Atlas Renewable Energy, a solar and wind project developer, <a href="https://cms.mercomindia.com/atlas-renewable-energy-secures-financing-estepa-project/" target="_blank" rel="noopener">secured</a> $510 million in financing for the construction and development of the Estepa Project in Chile. The Estepa project will be a hybrid project consisting of a 215 MW solar project with an estimated generation of 600 GWh per year. The project also includes two battery storage projects with a 418 MW capacity, equivalent to four hours of energy generation. The project is expected to begin commercial operation by the end of 2026.
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-spearmint-energy-bess-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Zelestra Secures $113 Million for 81 MW Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-zelestra-secures-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Zelestra, a renewable energy project developer, <a href="https://mercomcapital.com/zelestra-secures-113-million-for-81-mw-solar-project/" target="_blank" rel="noopener">secured</a> a $113 million project financing credit facility for the 81 MW Jasper County solar project in Jasper County, Indiana. Banco Santander acted as the sole arranger of the Facility. The project has long-term environmental attributes purchase agreement with Meta and is expected to be fully operational in Q4 2025.
Standard Solar, a community solar developer and asset owner, <a href="https://mercomcapital.com/standard-solar-acquires-39-mw-community-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 39 MW community solar portfolio in Illinois from New Leaf Energy, a clean energy project developer. The acquired portfolio comprises five community solar projects in towns across Illinois: Blackstone, Braceville, Dwight, Seneca, and Wadsworth.
Limes Renewable Energy, a developer of solar, wind, and energy storage projects, has completed the <a href="https://mercomcapital.com/limes-renewable-energy-sells-solar-wind-portfolio/" target="_blank" rel="noopener">sale</a> of a 287 MW solar and wind project portfolio in Italy to an undisclosed international independent power producer. The portfolio sold is split equally between solar PV and wind projects, with 50 MWp of solar PV projects already authorized.
Nexamp, a solar and energy storage project developer, <a href="https://mercomcapital.com/nexamp-secures-340-million-in-refinancing-for-solar-and-storage-project-portfolio/" target="_blank" rel="noopener">secured</a> a $340 million private placement debt refinancing with PGIM Private Capital, the private credit business of global asset manager PGIM. The financing will be used to support solar and storage projects across multiple states over the next three years. The refinancing covers a portfolio of 39 solar projects in seven states, representing 150 MW of solar and 37 MWh of storage capacity.
METLEN Energy &amp; Metals (METLEN), a Greek-based industrial and energy group and a wholly owned subsidiary of Glenfarne Asset Company (Glenfarne) has <a href="https://mercomcapital.com/glenfarne-to-acquire-solar-plus-storage-project-portfolio-in-chile/" target="_blank" rel="noopener">entered</a> into an agreement for Glenfarne to acquire a portfolio of Solar and Battery Energy Storage System assets in Chile. The transaction involves 588 MW of operational solar projects combined with 1,610 MWh of co-located BESS facilities.
Atlas Renewable Energy, a solar and wind project developer, <a href="https://mercomcapital.com/atlas-renewable-energy-secures-financing-estepa-project/" target="_blank" rel="noopener">secured</a> $510 million in financing for the construction and development of the Estepa Project in Chile. The Estepa project will be a hybrid project consisting of a 215 MW solar project with an estimated generation of 600 GWh per year. The project also includes two battery storage projects with a 418 MW capacity, equivalent to four hours of energy generation. The project is expected to begin commercial operation by the end of 2026.
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-spearmint-energy-bess-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.metlengroup.com/" target="_blank" rel="noopener">METLEN Energy &amp; Metals</a> (METLEN), a Greek-based industrial and energy group and a wholly owned subsidiary of <a href="https://glenfarnegroup.com/" target="_blank" rel="noopener">Glenfarne Asset Company</a> (Glenfarne) has entered into an agreement for Glenfarne to acquire a portfolio of Solar and Battery Energy Storage System assets in Chile. The acquisition is valued at $815 million, which also includes the assumption of debt and is based on certain financing assumptions and other adjustments.
Glenfarne Group is a developer, owner, and operator of energy infrastructure assets. Through its subsidiaries, the company said that it owns and operates over 50 energy infrastructure assets, including Global LNG Solutions, Grid Stability, and Renewables.
Astris Finance acted as the financial advisor, and Milbank LLP, Larrain y Asociados Ltda., acted as legal advisors to METLEN for this transaction. The transaction involves 588 MW of operational solar projects combined with 1,610 MWh of co-located BESS facilities. The BESS facilities are currently under construction and are expected to be completed within a year.
The transaction is expected to be closed when the BESS becomes operational, regulatory approvals are obtained, and certain financing and other customary conditions for this type of transaction are fulfilled.
&#8220;This transaction represents a significant step in Glenfarne&#8217;s commitment to further expanding our presence in Chile&#8217;s renewable energy sector and continued growth in our business relationships with METLEN. We&#8217;re glad to work with METLEN on this transaction, which aligns with our mission by investing in infrastructure that supports Chile&#8217;s energy transition,&#8221; said Brendan Duval, Founder and CEO of Glenfarne.
According to Mercom&#8217;s recently <a href="https://cms.mercomindia.com/product/q1-2025-solar-funding-ma-report/" target="_blank" rel="noopener">released</a> Q1 2025 Solar Funding and M&amp;A report, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.
This week, Palladium Energy, a renewable energy project developer, <a href="https://cms.mercomindia.com/exus-acquires-solar-plus-storage-project-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a 364 MW solar plus 280 MWh storage portfolio to Exus Renewables North America (Exus) through its joint venture with Arava Power, a utility-scale renewable energy project developer.

Glenfarne to Acquire Solar Plus Storage Project Portfolio in Chile

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