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<a href="https://greenvolt.com/" target="_blank" rel="noopener">Greenvolt Group</a>, a clean energy project developer, through Greenvolt Power, has signed a €35 million (~$41 million) project finance agreement with Ringkjøbing Landbobank. The funding will be used to construct and operate a large-scale hybrid project in Høegholm, Denmark, combining solar and battery energy storage systems.
The project integrates 97.36 MW solar with a 55-60 MW/110-120 MWh battery energy storage system. Once operational, the solar project is estimated to produce 97 GWh of electricity annually.
The project is currently under construction and is expected to begin commercial operations in the first quarter of 2026.
&#8220;Hybrid projects like this one, which bring together solar and battery storage, not only make renewable energy generation more efficient but also help us enhance and differentiate our assets, strengthening the confidence and interest of institutional partners, namely financing entities,&#8221; said João Manso Neto, CEO of the Greenvolt Group.
&#8220;Financing sustainable and responsible projects is fully aligned with Ringkjøbing Landbobank&#8217;s strategy. We are pleased to support Greenvolt in this project in Høegholm, which has a tangible regional impact and contributes to Denmark&#8217;s national energy goals&#8221;, said Jørn Nielsen, Managing Director, Ringkjøbing Landbobank A/S.
In August 2025, the company <a href="https://cms.mercomindia.com/greenvolt-group-increases-share-capital/" target="_blank" rel="noopener">announced</a> a €150 million (~$173 million) share capital increase, fully subscribed by its shareholder KKR. This transaction is said to strengthen the company&#8217;s capacity to execute its business plan, especially in utility-scale battery energy storage systems.
The Greenvolt Group also reached an agreement with Nuveen Infrastructure in September 2024 to <a href="https://cms.mercomindia.com/greenvolt-sells-153-mw-solar-project-portfolio-in-italy/" target="_blank" rel="noopener">sell</a> a 153 MW solar project portfolio across various regions of Italy for €18.7 million (~$20.69 million).
According to Mercom&#8217;s 9M and Q3 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.

Greenvolt Secures $41 Million Financing for 150 MW Hybrid Project

<a href="https://dri-energy.com/" target="_blank" rel="noopener">DRI</a>, an Amsterdam-based renewable energy company and a subsidiary of the DTEK Group, announced the acquisition of rights to build a 112 MW/448 MWh battery energy storage system from <a href="https://greenvolt.com/" target="_blank" rel="noopener">Greenvolt Group</a>, a renewable energy project developer.
The project, located in Kozienice, in the east-central part of Poland, was acquired through Greenvolt Power, a developer of utility-scale solar, wind, and energy storage projects.
Currently, the Kozienice project is at the ready-to-build stage, with all necessary administrative approvals, permits, and grid connection agreements in place for immediate construction.
DRI CEO, Murat Cinar, said, &#8220;With the signing of this agreement, we are consolidating our position in the Polish energy market, and more broadly, in Europe&#8217;s energy transition. By adding a second battery storage project to our portfolio, the acquisition of the Kozienice BESS will increase our total storage capacity available to the Polish grid to 245 MW. This technology will play a vital role in Europe&#8217;s transition towards a renewables-based system, enhancing grid stability and reducing the risk of outages during periods of system stress. Battery Energy Storage Systems will be at the heart of the power grid of the future. &#8221;
In August, the company also <a href="https://cms.mercomindia.com/dri-secures-70-m-financing-for-126-mw-solar-project-in-romania/" target="_blank" rel="noopener">secured</a> non-recourse loans of up to €60 million (~$70 million) to finance the development and construction of the 126 MW Vacaresti solar project in Romania.
In 2024, the company <a href="https://cms.mercomindia.com/dri-acquires-133-mw-energy-storage-project-in-poland/" target="_blank" rel="noopener">acquired</a> a 133 MW/532 MWh energy storage project in Trzebinia, Poland. DRI acquired 100% of the project&#8217;s shares from Columbus Energy, a Polish renewable energy services provider. Additionally, DRI <a href="https://cms.mercomindia.com/dri-acquires-166-mw-solar-project-portfolio-in-italy/" target="_blank" rel="noopener">signed</a> and completed a purchase agreement to develop a 166 MWp solar portfolio in Sardinia, Italy, in December last year. The portfolio, named Project Nox, comprises four solar projects acquired from Enerland, a solar engineering, procurement, and construction firm.
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 report, announced Energy Storage project financing increased 168% year-over-year in 2025.

DRI Acquires 112 MW/448 MWh Battery Storage Project in Poland

BlueWave, a solar and storage developer, owner, operator, and a subsidiary of Axium Infrastructure, an independent portfolio management firm, has <a href="https://cms.mercomindia.com/renewable-energy-developer-bluewave-debt-financing/" target="_blank" rel="noopener">secured</a> $247 million from two credit facilities. The first $125 million revolving construction-to-term loan facility was led by KeyBank and the National Bank of Canada, which is said to provide construction debt. The remaining $122 million corporate revolving credit facility was provided by KeyBank and the Canadian Imperial Bank of Commerce, the New York branch.
Greenvolt Group, a developer of clean energy projects, <a href="https://cms.mercomindia.com/greenvolt-group-increases-share-capital/" target="_blank" rel="noopener">announced</a> a €150 million (~$173 million) share capital increase, fully subscribed by its shareholder KKR. The share capital increase will be implemented in two phases. The first phase of this capital increase, totaling €100 million (~$115 million), is expected to be completed soon. The second phase, corresponding to the remaining €50 million (~$58 million) already approved, is expected to be completed by September 30, 2025.
Planted Solar, a company that provides solar energy project deployment platforms, has <a href="https://cms.mercomindia.com/planted-solar-secures-funding/" target="_blank" rel="noopener">secured</a> a $12 million funding round led by Piva Capital, with participation from existing investors Breakthrough Energy Ventures, Khosla Ventures, and Team Builder Ventures. With this funding, the company plans to accelerate the development of its digital and hardware solutions, expand deployment capacity, and strengthen its partnerships globally.
Sun King, a company focusing on off-grid solar solutions, has <a href="https://sunking.com/news-blog/156m-sun-king-securitisation-to-deliver-solar-for-over-a-million-kenyans/" target="_blank" rel="noopener">closed</a> KES 20.1 billion (~$156 million) securitization. Arranged and structured by Citi with Stanbic Bank Kenya acting as the placement agent, the securitization is backed by five international and local commercial banks and three development finance institutions. It builds on the company&#8217;s $130 million securitization completed in 2023. The securitization enables Sun King to raise long-term local currency debt by converting future customer repayments for financed solar products into investable assets.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-ma-roundup-cleanpeak-energy-raises-328-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Bluewave Secures $247 Million Debt Financing

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-bluewave-secures-247m-debt-financing/" target="_blank" rel="noopener">Mercom Capital Group</a>
BlueWave, a solar and storage developer, owner, operator, and a subsidiary of Axium Infrastructure, an independent portfolio management firm, has <a href="https://mercomcapital.com/renewable-energy-developer-bluewave-debt-financing/" target="_blank" rel="noopener">secured</a> $247 million from two credit facilities. The first $125 million revolving construction-to-term loan facility was led by KeyBank and the National Bank of Canada, which is said to provide construction debt. The remaining $122 million corporate revolving credit facility was provided by KeyBank and the Canadian Imperial Bank of Commerce, the New York branch.
Greenvolt Group, a developer of clean energy projects, <a href="https://mercomcapital.com/greenvolt-group-increases-share-capital/" target="_blank" rel="noopener">announced</a> a €150 million (~$173 million) share capital increase, fully subscribed by its shareholder KKR. The share capital increase will be implemented in two phases. The first phase of this capital increase, totaling €100 million (~$115 million), is expected to be completed soon. The second phase, corresponding to the remaining €50 million (~$58 million) already approved, is expected to be completed by September 30, 2025.
Planted Solar, a company that provides solar energy project deployment platforms, has <a href="https://mercomcapital.com/planted-solar-secures-funding/" target="_blank" rel="noopener">secured</a> a $12 million funding round led by Piva Capital, with participation from existing investors Breakthrough Energy Ventures, Khosla Ventures, and Team Builder Ventures. With this funding, the company plans to accelerate the development of its digital and hardware solutions, expand deployment capacity, and strengthen its partnerships globally.
Sun King, a company focusing on off-grid solar solutions, has <a href="https://www.citigroup.com/global/news/press-release/2025/citi-sun-king-securitization-deliver-solar-million-kenyans" target="_blank" rel="noopener">closed</a> $156 million (KES20.1 billion) securitization. Arranged and structured by Citi with Stanbic Bank Kenya acting as the placement agent, the securitization is backed by five international and local commercial banks and three development finance institutions. It builds on the company’s $130 million securitization completed in 2023. The securitization enables Sun King to raise long-term local currency debt by converting future customer repayments for financed solar products into investable assets.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-cleanpeak-energy-raises-328-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://greenvolt.com/" target="_blank" rel="noopener">Greenvolt Group</a>, a developer of clean energy projects, announced a €150 million (~$173 million) share capital increase, fully subscribed by its shareholder KKR.
The share capital increase will be implemented in two phases. The first phase of this capital increase, totaling €100 million (~$115 million), is expected to be completed soon. The second phase, corresponding to the remaining €50 million (~$58 million) already approved, is expected to be completed by September 30, 2025.
This transaction is said to strengthen the company&#8217;s capacity to execute its business plan, especially in the area of utility-scale battery energy storage systems, a segment in which the company has a probability-weighted pipeline of 4.3 GW across nine countries, with projects already underway in Poland, the U.K., and Hungary.
&#8220;This capital increase is part of the path we&#8217;ve been building alongside our shareholder and once again demonstrates its commitment to Greenvolt&#8217;s strategy. It gives us access to the financial resources needed to accelerate the execution capabilities we have consistently demonstrated and to further strengthen Greenvolt&#8217;s position as a key player in the energy transition&#8221;, said, João Manso Neto, CEO, Greenvolt Group.
With first-half asset rotation sales exceeding €500 million (~$575 million), the company is said to be strengthening its capacity to finance the next investment cycle across the global markets where it operates.
In March, the company <a href="https://cms.mercomindia.com/greenvolt-secures-39-million-project-finance/" target="_blank" rel="noopener">signed</a> a €36 million (~$39.34 million) project finance with UniCredit Bank Hungary for the construction, operation, and maintenance of a 57 MW solar project in Hungary. It is also expecting significant investments in BESS in the coming years, as this technology becomes increasingly central to the energy transition.
According to Mercom&#8217;s 1H and Q2 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, solar public market financing totaled $467 million in five deals, 73% lower than $1.7 billion across eight deals in 1H 2024.

Greenvolt Group Increases $173 Million Share Capital

OX2, a solar and energy storage project developer, has <a href="https://cms.mercomindia.com/ox2-sells-119-mw-solar-project-in-australia/" target="_blank" rel="noopener">entered</a> into an agreement to sell a 119 MWac solar project in Victoria, Australia, to an undisclosed buyer. OX2 will manage the construction of the project on behalf of the buyer. The project is expected to be operational in 2027 and produce about 242 GWh of clean electricity annually, enough to power approximately 51,000 households in Australia.
Doral Renewables, a utility-scale renewable energy developer, <a href="https://cms.mercomindia.com/doral-renewables-secures-debt-financing-mammoth-solar-project/" target="_blank" rel="noopener">announced</a> closing a $285 million debt financing package to support the initial construction of the remaining phases of the Mammoth Solar complex in Northern Indiana. These phases consist of three ground-mounted, single-axis systems, each with a capacity of 300 MW, totaling 900 MW overall.
Arevon Energy, a solar and energy storage project developer, <a href="https://cms.mercomindia.com/arevon-energy-secures-299-million-financing-for-solar-projects-in-indiana/" target="_blank" rel="noopener">announced</a> the financial closure of $299 million debt financing commitments for the 192 MWdc Ratts 1 solar and 73 MWdc (60 MWac) Heirloom solar projects. The projects are part of the Midwest and Midcontinent Independent System Operator territory, adding 264 MWdc capacity to Pike County, Indiana. Construction on the Ratts 1 and Heirloom solar projects began in August 2024, and both projects are expected to be in commercial operation by Q3 2025.
Q ENERGY, a solar, energy storage, and wind project developer, <a href="https://cms.mercomindia.com/q-energy-secures-56-million-debt-financing-for-floating-solar-project/" target="_blank" rel="noopener">secured</a> €50.4 million (~$55.68 million) in debt financing for the Les Ilots Blandin solar project development. The floating solar project spans over a former gravel pit in the Haute-Marne region of France and has a total capacity of 74.3 MW.
The Greenvolt Group, a solar and wind project developer, <a href="https://cms.mercomindia.com/greenvolt-sells-153-mw-solar-project-portfolio-in-italy/" target="_blank" rel="noopener">reached</a> an agreement with Nuveen Infrastructure to sell a 153 MW solar project portfolio across various regions of Italy for €18.7 million (~$20.69 million). The portfolio comprises 19 projects that will be sold in phases and are expected to reach the ready-to-build stage between 2024 and 2025.
Independent power producer Sunsure Energy has <a href="https://www.mercomindia.com/sunsure-2-billion-tata-capital" target="_blank" rel="noopener">secured</a> ₹2.26 billion (~$26.92 million) in long-term debt financing from Tata Capital to bolster its portfolio of open access solar projects in Uttar Pradesh, India with a total operational capacity of 75 MW.
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-swift-current-energy-secures-financing-for-800-mw-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: OX2 Sells 119 MW Solar Project in Australia

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-ox2-sells-solar-project-australia/" target="_blank" rel="noopener">Mercom Capital Group</a>
OX2, a solar and energy storage project developer, has <a href="https://mercomcapital.com/ox2-sells-119-mw-solar-project-in-australia/" target="_blank" rel="noopener">entered</a> into an agreement to sell a 119 MWac solar project in Victoria, Australia, to an undisclosed buyer. OX2 will manage the construction of the project on behalf of the buyer. The project is expected to be operational in 2027 and produce about 242 GWh of clean electricity annually, enough to power approximately 51,000 households in Australia.
Doral Renewables, a utility-scale renewable energy developer, <a href="https://mercomcapital.com/doral-renewables-secures-debt-financing-mammoth-solar-project/" target="_blank" rel="noopener">announced</a> closing a $285 million debt financing package to support the initial construction of the remaining phases of the Mammoth Solar complex in Northern Indiana. These phases consist of three ground-mounted, single-axis systems, each with a capacity of 300 MW, totaling 900 MW overall.
Arevon Energy, a solar and energy storage project developer, <a href="https://mercomcapital.com/arevon-energy-secures-299-million-financing-for-solar-projects-in-indiana/" target="_blank" rel="noopener">announced</a> the financial closure of $299 million debt financing commitments for the 192 MWdc Ratts 1 solar and 73 MWdc (60 MWac) Heirloom solar projects. The projects are part of the Midwest and Midcontinent Independent System Operator territory, adding 264 MWdc capacity to Pike County, Indiana. Construction on the Ratts 1 and Heirloom solar projects began in August 2024, and both projects are expected to be in commercial operation by Q3 2025.
Q ENERGY, a solar, energy storage, and wind project developer, <a href="https://mercomcapital.com/q-energy-secures-56-million-debt-financing-for-floating-solar-project/" target="_blank" rel="noopener">secured</a> €50.4 million (~$55.68 million) in debt financing for the Les Ilots Blandin solar project development. The floating solar project spans over a former gravel pit in the Haute-Marne region of France and has a total capacity of 74.3 MW.
The Greenvolt Group, a solar and wind project developer, <a href="https://mercomcapital.com/greenvolt-sells-153-mw-solar-project-portfolio-in-italy/" target="_blank" rel="noopener">reached</a> an agreement with Nuveen Infrastructure to sell a 153 MW solar project portfolio across various regions of Italy for €18.7 million (~$20.69 million). The portfolio comprises 19 projects that will be sold in phases and are expected to reach the ready-to-build stage between 2024 and 2025.
Independent power producer Sunsure Energy has <a href="https://www.mercomindia.com/sunsure-2-billion-tata-capital" target="_blank" rel="noopener">secured</a> ₹2.26 billion (~$26.92 million) in long-term debt financing from Tata Capital to bolster its portfolio of open access solar projects in Uttar Pradesh, India with a total operational capacity of 75 MW.
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-swift-current-energy-secures-financing-for-800-mw-solar-project/" target="_blank" rel="noopener">brief</a>.

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