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CEE Group, a Hamburg-based renewable energy asset management firm, <a href="https://cms.mercomindia.com/cee-group-acquires-102-mw-solar-project-in-germany/" target="_blank" rel="noopener">announced</a> the acquisition of the 102 MW Klüden solar project in the Börde district in Saxony-Anhalt, Germany  from Sunovis, a Germany-based solar project developer. The construction of the solar project already began in September 2024, with commercial operation expected in April 2025.
Gulf Renewable Energy, a subsidiary of Gulf Energy Development Public Company, <a href="https://cms.mercomindia.com/gulf-renewable-energy-secures-820-million-loan-for-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of a $820 million loan to support the construction of a portfolio of 12 renewable energy projects across Thailand. The portfolio includes eight ground-mounted solar projects totaling 393 MW and four ground-mounted solar projects with battery energy storage systems totaling 256 MW and 396 MWh of energy storage.
Spruce Power, an owner and operator of distributed residential solar systems, <a href="https://cms.mercomindia.com/spruce-power-acquires-residential-solar-portfolio-in-new-jersey/" target="_blank" rel="noopener">announced</a> the acquisition of a residential solar portfolio from NJR Clean Energy Ventures (CEV), a subsidiary of New Jersey Resources for $132.5 million. The acquired portfolio, known as Spruce Power 5 Portfolio, includes approximately 9,800 solar systems in New Jersey, which were installed under a CEV residential solar program between 2010 and 2024.
Alpiq, a Switzerland-based electricity producer, announced the <a href="https://cms.mercomindia.com/alpiq-acquires-100-mw-200-mwh-battery-storage-project-in-france/" target="_blank" rel="noopener">acquisition</a> of the 100 MW/200 MWh battery energy storage project located in the department of Oise, north of Paris, France from Harmony Energy, a renewable energy project developer. The project is expected to be commissioned in autumn 2026.
Yinson Renewables, an independent renewable power producer, <a href="https://cms.mercomindia.com/yinson-renewables-secures-59-million-financing-for-solar-project/" target="_blank" rel="noopener">secured</a> a $59 million senior secured green financing for the 97 MWp Matarani solar project located near Arequipa, Peru. IDB Invest and Natixis Corporate &amp; Investment Banking provided the funding. The project achieved full commercial operations in September 2024 and is backed by a long-term Power Purchase Agreement (PPA) with Orygen, a Peru-based renewable energy supplier and generator.
TSE, a French solar developer specializing in agrivoltaics projects, <a href="https://cms.mercomindia.com/agrivoltaics-project-developer-tse-secures-68-5-million-financing/" target="_blank" rel="noopener">secured</a> a bond debt funding of €65 million (~$68.5 million) from the Eiffel Investment Group Fund. The debt funding will enable TSE to develop and construct new solar projects with a combined capacity of 800 MW. Astris Finance advised TSE as financial advisor and Gibson Dunn as legal advisor. Clifford Chance advised Eiffel Investment Group as legal counsel.
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-baywa-r-e-sells-solar-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: CEE Group Acquires 102 MW Solar Project in Germany

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-cee-group-solar-project-germany/" target="_blank" rel="noopener">Mercom Capital Group</a>
CEE Group, a Hamburg-based renewable energy asset management firm, <a href="https://mercomcapital.com/cee-group-acquires-102-mw-solar-project-in-germany/" target="_blank" rel="noopener">announced</a> the acquisition of the 102 MW Klüden solar project in the Börde district in Saxony-Anhalt, Germany  from Sunovis, a Germany-based solar project developer. The construction of the solar project already began in September 2024, with commercial operation expected in April 2025.
Gulf Renewable Energy, a subsidiary of Gulf Energy Development Public Company, <a href="https://mercomcapital.com/gulf-renewable-energy-secures-820-million-loan-for-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of a $820 million loan to support the construction of a portfolio of 12 renewable energy projects across Thailand. The portfolio includes eight ground-mounted solar projects totaling 393 MW and four ground-mounted solar projects with battery energy storage systems totaling 256 MW and 396 MWh of energy storage.
Spruce Power, an owner and operator of distributed residential solar systems, <a href="https://mercomcapital.com/spruce-power-acquires-residential-solar-portfolio-in-new-jersey/" target="_blank" rel="noopener">announced</a> the acquisition of a residential solar portfolio from NJR Clean Energy Ventures (CEV), a subsidiary of New Jersey Resources for $132.5 million. The acquired portfolio, known as Spruce Power 5 Portfolio, includes approximately 9,800 solar systems in New Jersey, which were installed under a CEV residential solar program between 2010 and 2024.
Alpiq, a Switzerland-based electricity producer, announced the <a href="https://mercomcapital.com/alpiq-acquires-100-mw-200-mwh-battery-storage-project-in-france/" target="_blank" rel="noopener">acquisition</a> of the 100 MW/200 MWh battery energy storage project located in the department of Oise, north of Paris, France from Harmony Energy, a renewable energy project developer. The project is expected to be commissioned in autumn 2026.
Yinson Renewables, an independent renewable power producer, <a href="https://mercomcapital.com/yinson-renewables-secures-59-million-financing-for-solar-project/" target="_blank" rel="noopener">secured</a> a $59 million senior secured green financing for the 97 MWp Matarani solar project located near Arequipa, Peru. IDB Invest and Natixis Corporate &amp; Investment Banking provided the funding. The project achieved full commercial operations in September 2024 and is backed by a long-term Power Purchase Agreement (PPA) with Orygen, a Peru-based renewable energy supplier and generator.
TSE, a French solar developer specializing in agrivoltaics projects, <a href="https://mercomcapital.com/agrivoltaics-project-developer-tse-secures-68-5-million-financing/" target="_blank" rel="noopener">secured</a> a bond debt funding of €65 million (~$68.5 million) from the Eiffel Investment Group Fund. The debt funding will enable TSE to develop and construct new solar projects with a combined capacity of 800 MW. Astris Finance advised TSE as financial advisor and Gibson Dunn as legal advisor. Clifford Chance advised Eiffel Investment Group as legal counsel.
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-baywa-r-e-sells-solar-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.gulf.co.th/en/renewables.php" target="_blank" rel="noopener">Gulf Renewable Energy</a>, a subsidiary of Gulf Energy Development Public Company (Gulf), announced the closing of a $820 million loan to support the construction of a portfolio of 12 renewable energy projects across Thailand.
ADB led the funding as the mandated lead arranger and bookrunner. The funding package comprises $260 million from ADB’s ordinary capital resources and $529 million in parallel loans from the Asian Infrastructure Investment Bank, DEG &#8211; Deutsche Investitions- und Entwicklungsgesellschaft (German Development Finance Institution), the Export-Import Bank of China, and KEXIM Global (Singapore), among others.
Additionally, ADB is said to provide $31.35 million in blended concessional funding from the Clean Technology Fund.
The portfolio includes eight ground-mounted solar projects totaling 393 MW and four ground-mounted solar projects with battery energy storage systems totaling 256 MW and 396 MWh of energy storage.
The projects supported by the funding are part of Thailand’s 5 GW renewable energy feed-in-tariff program. Thailand aims to increase its renewable energy generation to 50% by 2037.
Gulf Energy Development Public, established in 2011, is a power generation company based in Thailand with a total installed generation capacity of 14.5 GW as of October 2024.
&#8220;This portfolio of projects significantly enhances solar energy and solar energy with battery storage in Thailand, marking a major step forward in the country’s goal of achieving carbon neutrality. It also offers a compelling model that can be replicated throughout the region,&#8221; said ADB Director General for Private Sector Operations Suzanne Gaboury.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding in  9M 2024 totaled $34.3 billion in 180 deals, up from $27.5 billion in 169 deals in 9M 2023.
Earlier this year, in May, Dynamic Sun Energy, a unit of Paramount Textile, <a href="https://cms.mercomindia.com/dynamic-sun-energy-secures-funding-100-mw-solar-project-bangladesh/" target="_blank" rel="noopener">secured</a> a financial package from the Asian Development Bank to build and operate a 100 MW grid-connected solar power project in Pabna, Bangladesh.

Gulf Renewable Energy Secures $820 Million Loan for Solar and Storage Projects

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