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Scale Microgrids, a vertically integrated distributed energy platform, <a href="https://cms.mercomindia.com/scale-microgrids-acquires-500-mw-community-solar-projects/" target="_blank" rel="noopener">entered</a> into a definitive agreement with Gutami to acquire 500 MW of distributed solar and storage projects. All the projects are located across multiple states, including California and New York. The acquisition is built on the company’s existing 100 MW partnership in New York. Scale and Gutami have executed an expansion agreement under which Gutami will develop 500 MW of energy transition infrastructure assets, which Scale will acquire, finance, and own.
Infiniti Energy, a solar project developer and independent power producer, <a href="https://cms.mercomindia.com/infiniti-energy-closes-financing-commercial-solar-project/" target="_blank" rel="noopener">announced</a> the closure of an $83 million structured finance facility with Fifth Third Bank, who acted as the administrative agent, to support a portfolio totaling 21 MW commercial solar projects. The construction facility is being financed through Fiera Private Debt, and Flagstar Bank is providing the tax equity.
FP Lux, an investment firm, through its FP Lux Energy Transition Fund, <a href="https://www.re-cap.ch/wp-content/uploads/2024/01/2024-01-18_recap-global_investors_FP_Lux_Group_buys_solar-park_portfolio_in_Italy_RZ.pdf" target="_blank" rel="noopener">announced</a> the acquisition of 114 MW of solar projects in Italy from PNE, a German-based renewable energy project developer. The deal covers twelve photovoltaic projects across Italy that can supply a medium-sized city with 75,000 households with green electricity, saving up to 104,400 tons of CO2 per year.
SSE Renewables, a developer and operator of renewable energy projects, <a href="https://cms.mercomindia.com/sse-renewables-acquires-400-mw-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 400 MW solar project portfolio in Poland from IBC Solar, a solar project developer. The solar projects acquired are currently in the early stage of development. This follows the company’s earlier acquisition of 500 MW solar projects in Poland from Optisol. The two solar portfolios bring the company’s prospective pipeline of solar PV projects in Poland to 900 MW.
Globeleq, an independent solar power producer, <a href="https://cms.mercomindia.com/globeleq-secures-37-million-debt-financing-for-solar-projects/" target="_blank" rel="noopener">announced</a> the completion of a $37 million senior debt restructuring for 11 MW of Aries and 11 MW of Konkoonsies solar projects in the Northern Cape of South Africa. By lowering the cost of debt for the projects, the restructuring led by Standard Bank Limited allows for a significant reduction in wholesale electricity prices from the projects.
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-mytilineos-secures-financing-588-mw-solar-portfolio/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Scale Microgrids Acquires 500 MW Community Solar Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-scale-microgrids-acquires-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Scale Microgrids, a vertically integrated distributed energy platform, <a href="https://mercomcapital.com/scale-microgrids-acquires-500-mw-community-solar-projects/" target="_blank" rel="noopener">entered</a> into a definitive agreement with Gutami to acquire 500 MW of distributed solar and storage projects. All the projects are located across multiple states, including California and New York. The acquisition is built on the company’s existing 100 MW partnership in New York. Scale and Gutami have executed an expansion agreement under which Gutami will develop 500 MW of energy transition infrastructure assets, which Scale will acquire, finance, and own.
Infiniti Energy, a solar project developer and independent power producer, <a href="https://mercomcapital.com/infiniti-energy-closes-financing-commercial-solar-project/" target="_blank" rel="noopener">announced</a> the closure of an $83 million structured finance facility with Fifth Third Bank, who acted as the administrative agent, to support a portfolio totaling 21 MW commercial solar projects. The construction facility is being financed through Fiera Private Debt, and Flagstar Bank is providing the tax equity.
FP Lux, an investment firm, through its FP Lux Energy Transition Fund, <a href="https://www.re-cap.ch/wp-content/uploads/2024/01/2024-01-18_recap-global_investors_FP_Lux_Group_buys_solar-park_portfolio_in_Italy_RZ.pdf" target="_blank" rel="noopener">announced</a> the acquisition of 114 MW of solar projects in Italy from PNE, a German-based renewable energy project developer. The deal covers twelve photovoltaic projects across Italy that can supply a medium-sized city with 75,000 households with green electricity, saving up to 104,400 tons of CO2 per year.
SSE Renewables, a developer and operator of renewable energy projects, <a href="https://mercomcapital.com/sse-renewables-acquires-400-mw-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 400 MW solar project portfolio in Poland from IBC Solar, a solar project developer. The solar projects acquired are currently in the early stage of development. This follows the company’s earlier acquisition of 500 MW solar projects in Poland from Optisol. The two solar portfolios bring the company’s prospective pipeline of solar PV projects in Poland to 900 MW.
Globeleq, an independent solar power producer, <a href="https://mercomcapital.com/globeleq-secures-37-million-debt-financing-for-solar-projects/" target="_blank" rel="noopener">announced</a> the completion of a $37 million senior debt restructuring for 11 MW of Aries and 11 MW of Konkoonsies solar projects in the Northern Cape of South Africa. By lowering the cost of debt for the projects, the restructuring led by Standard Bank Limited allows for a significant reduction in wholesale electricity prices from the projects.
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-mytilineos-secures-financing-588-mw-solar-portfolio/" target="_blank" rel="noopener">brief</a>.

<a href="https://infinitienergy.com/" target="_blank" rel="noopener">Infiniti Energy</a>, a solar project developer and independent power producer, announced the closure of an $83 million structured finance facility with Fifth Third Bank, who acted as the administrative agent, to support a portfolio totaling 21 MW commercial solar projects.
The construction facility is being financed through Fiera Private Debt, and Flagstar Bank is providing the tax equity. The financing will support developing, constructing, and operating commercial and industrial (C&amp;I) solar projects in New Jersey, California, and Illinois. Infiniti Energy will build, own, and operate all sites under power purchase agreements (PPAs) with a diverse group of solar off-takers, including retail, commercial, and industrial clients.
Development of the projects is already underway, and completion of the portfolio is expected this year.
&#8220;The Infiniti team is excited to build on our expanding partnership with Fifth Third Bank and welcome the opportunity to work with Fiera and Flagstar to support our growing portfolio,&#8221; said Michael Kushner, Infiniti Energy CEO. &#8220;The projects that Infiniti owns and operates continue to generate affordable and sustainable solar energy for our clients while contributing to our country&#8217;s renewable transition.&#8221;
According to Mercom&#8217;s recently released Q4 and Annual Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding deals announced in 2023 came to $44.5 billion in 229 deals, of which 196 were disclosed.
Genesis Energy, a New Zealand-based power and gas utility company and joint venture partner, FRV Australia, <a href="https://cms.mercomindia.com/genesis-energy-closes-financing-63-mw-solar-project-new-zealand/" target="_blank" rel="noopener">completed</a> the financial close on the 63 MW solar project, which is yet to be built in Lauriston on the Canterbury Plains, New Zealand. The solar project is on a 93-hectare site and, once operational, will power the equivalent of nearly 13,000 houses. According to the company, construction contracts have been confirmed, initial work is underway, and procurement of key equipment has started. The expected construction costs are approximately $104 million.

Infiniti Energy Closes $83 Million Financing for Commercial Solar Project

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