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Swift Current Energy, a utility-scale solar, wind, and energy storage project developer, <a href="https://cms.mercomindia.com/swift-current-energy-secures-financing-800-mw-solar-project/" target="_blank" rel="noopener">secured</a> tax equity investment from Google to develop an 800 MWdc (593 MWac) Double Black Diamond solar project in southern Illinois. The project is currently under construction and is expected to reach commercial operations by early 2025. Once operational, the project is expected to be the largest solar project east of the Mississippi River. The tax equity financing utilizes energy communities and domestic content adders, provided in the Inflation Reduction Act.
The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International provided €110 million (~$122 million) in <a href="https://cms.mercomindia.com/ebrd-and-raiffeisen-bank-provide-122m-loan-for-solar-projects-in-romania/" target="_blank" rel="noopener">funding</a> to build and operate two solar projects in southeastern Romania. The Lepuresti and Ghimpati solar projects have a total installed capacity of around 300 MW. EBRD will provide a loan of €55 million (~$61 million), which will be split into two tranches of €25 million (~$27.74 million) and €30 million (~$33.29 million), and another €55 million (~$61 million) will be from Raiffeisen Bank International.
Levanta Renewables, a renewable energy project developer and independent power producer in Southeast Asia backed by Actis, an investor in sustainable infrastructure, <a href="https://cms.mercomindia.com/levanta-renewables-acquires-9-5-mw-commercial-industrial-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of six solar projects with a total installed capacity of 9.5 MWp for its commercial and industrial business from an undisclosed regional renewable energy projects developer. The portfolio comprises solar projects with long-term power purchase agreements signed with leading Global 500 multinational corporations.
Lodestone Energy, a solar project developer, <a href="https://cms.mercomindia.com/lodestone-energy-acquires-54-mw-solar-portfolio-in-new-zealand/" target="_blank" rel="noopener">announced</a> the acquisition of two grid-scale solar project sites in the Manawatu region of New Zealand from Kiwi Solar, a utility-scale and rooftop solar energy project developer. Upon completion, the two projects will each have a total capacity of approximately 27 MW. Construction on the first site is scheduled to begin by mid-2025.
Generate Capital, a sustainable investment and operating company, and KeyState Renewables, an investment firm, <a href="https://cms.mercomindia.com/generate-keystate-close-53-5-mw-community-solar-projects-investment-fund/" target="_blank" rel="noopener">announced</a> the close of their third joint fund, Generate NY Community Solar VI. The closed fund includes a $64 million investment from KeyState, which will be used to develop and manage 11 projects in New York with a total capacity of 53.5 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-atlas-renewable-energy-secures-solar-project/" target="_blank" rel="noopener">brief</a>.
&nbsp;

Project Finance Brief: Swift Current Energy Secures Financing for 800 MW Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-swift-current-energy-secures-financing-for-800-mw-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Swift Current Energy, a utility-scale solar, wind, and energy storage project developer, <a href="https://mercomcapital.com/swift-current-energy-secures-financing-800-mw-solar-project/" target="_blank" rel="noopener">secured</a> tax equity investment from Google to develop an 800 MWdc (593 MWac) Double Black Diamond solar project in southern Illinois. The project is currently under construction and is expected to reach commercial operations by early 2025. Once operational, the project is expected to be the largest solar project east of the Mississippi River. The tax equity financing utilizes energy communities and domestic content adders, provided in the Inflation Reduction Act.
The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International provided €110 million (~$122 million) in <a href="https://mercomcapital.com/ebrd-and-raiffeisen-bank-provide-122m-loan-for-solar-projects-in-romania/" target="_blank" rel="noopener">funding</a> to build and operate two solar projects in southeastern Romania. The Lepuresti and Ghimpati solar projects have a total installed capacity of around 300 MW. EBRD will provide a loan of €55 million (~$61 million), which will be split into two tranches of €25 million (~$27.74 million) and €30 million (~$33.29 million), and another €55 million (~$61 million) will be from Raiffeisen Bank International.
Levanta Renewables, a renewable energy project developer and independent power producer in Southeast Asia backed by Actis, an investor in sustainable infrastructure, <a href="https://mercomcapital.com/levanta-renewables-acquires-9-5-mw-commercial-industrial-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of six solar projects with a total installed capacity of 9.5 MWp for its commercial and industrial business from an undisclosed regional renewable energy projects developer. The portfolio comprises solar projects with long-term power purchase agreements signed with leading Global 500 multinational corporations.
Lodestone Energy, a solar project developer, <a href="https://mercomcapital.com/lodestone-energy-acquires-54-mw-solar-portfolio-in-new-zealand/" target="_blank" rel="noopener">announced</a> the acquisition of two grid-scale solar project sites in the Manawatu region of New Zealand from Kiwi Solar, a utility-scale and rooftop solar energy project developer. Upon completion, the two projects will each have a total capacity of approximately 27 MW. Construction on the first site is scheduled to begin by mid-2025.
Generate Capital, a sustainable investment and operating company, and KeyState Renewables, an investment firm, <a href="https://mercomcapital.com/generate-keystate-close-53-5-mw-community-solar-projects-investment-fund/" target="_blank" rel="noopener">announced</a> the close of their third joint fund, Generate NY Community Solar VI. The closed fund includes a $64 million investment from KeyState, which will be used to develop and manage 11 projects in New York with a total capacity of 53.5 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-atlas-renewable-energy-secures-solar-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.levantarenewables.com/" target="_blank" rel="noopener">Levanta Renewables</a>, a renewable energy project developer and independent power producer in Southeast Asia backed by Actis, an investor in sustainable infrastructure, announced the acquisition of six solar projects with a total installed capacity of 9.5 MWp for its commercial and industrial business from an undisclosed regional renewable energy projects developer. The portfolio comprises solar projects with long-term power purchase agreements signed with leading Global 500 multinational corporations.
The projects span three Southeast Asian countries, with three sites in Malaysia, two in Indonesia, and one in Thailand.
The completion of the transaction is subject to and conditional upon certain customary conditions, including regulatory and other approvals. The transaction is expected to close before the end of 2024.
Earlier this year, Levanta Renewables also announced the <a href="https://cms.mercomindia.com/levanta-renewables-acquires-139-4-mw-solar-portfolio-in-thailand/" target="_blank" rel="noopener">acquisition</a> of a 90% controlling shareholding in Thailand&#8217;s 139.4 MW operating solar project portfolio. The company acquired the portfolio from Super Energy, a Thai renewable energy project developer, and its subsidiary, Super Energy Group.
&#8220;This acquisition is strategically important to Levanta as it represents an expansion of our three key markets, solidifying our position as a leading renewable energy provider for C&amp;I and Utility customers,&#8221; said Sudhir Nunes, Chief Executive Officer of Levanta Renewables.
According to Mercom&#8217;s 1H and Q2 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 113 solar project acquisitions totaling 18.5 GW in 1H 2024 were transacted compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
This week, Lodestone Energy, a solar project developer, announced the <a href="https://cms.mercomindia.com/lodestone-energy-acquires-54-mw-solar-portfolio-in-new-zealand/" target="_blank" rel="noopener">acquisition</a> of two grid-scale solar project sites in the Manawatu region of New Zealand from Kiwi Solar, a utility-scale and rooftop solar energy project developer. Upon completion, the two projects will each have a total capacity of approximately 27 MW. Construction on the first site is scheduled to begin by mid-2025.

Levanta Renewables Acquires 9.5 MW Commercial & Industrial Solar Portfolio

Emeren Group, a solar project developer, <a href="https://cms.mercomindia.com/emeren-group-sells-42-mw-solar-project-portfolio-in-spain/" target="_blank" rel="noopener">announced</a> the sale of a 42 MW ready-to-build solar project portfolio in Spain to CVE España, part of CVE, a French independent power producer. The portfolio comprises eight greenfield projects with capacities ranging from 5 MW to 6 MW. One project has already been closed, while the rest will be closed during Q3 and are classified as ready-to-build. Six projects are in Castilla-y-Leon, one in Comunidad Valenciana, and the last in Andalucia.
Enfinity Global, a U.S.-based renewable energy project developer, <a href="https://cms.mercomindia.com/enfinity-global-secures-164-million-financing-for-solar-project-portfolio/" target="_blank" rel="noopener">closed</a> a $164 million (~JPY 26.24 billion) financing for a 250 MW solar PV project portfolio in Japan. Enfinity Global obtained the funding in partnership with Macquarie Capital and a syndicate led by Shinhan Asset Management. The portfolio comprises seven operating utility-scale solar projects and one project under construction, with an enterprise value of over $1 billion.
CEE Group, a renewable energy asset management firm, <a href="https://cms.mercomindia.com/cee-group-acquires-102-5-mw-solar-project-in-spain/" target="_blank" rel="noopener">announced</a> the acquisition of a 102.5 MW solar PV project in San Pedro del Pinatar in Murcia, a region in southern Spain, with its CEE Renewable Fund 8. The project is under construction and will be connected to the grid in the second half of 2025. The seller is a European corporation specializing in developing, constructing, and operating renewable energy projects.
Public infrastructure finance company REC Limited has <a href="https://www.mercomindia.com/rec-200-million-loan-deutsche-bank" target="_blank" rel="noopener">secured</a> a green loan of JPY31.96 billion (~$200 million) from Deutsche Bank‘s GIFT City branch to fund green projects in India. This green financing is one of the first JPY-denominated green loan transactions for Deutsche Bank at GIFT City.
Actis’ SE Asia Renewables Platform Levanta Renewables, a renewable energy project developer and independent power producer, <a href="https://cms.mercomindia.com/levanta-renewables-acquires-139-4-mw-solar-portfolio-in-thailand/" target="_blank" rel="noopener">announced</a> the acquisition of a 90% controlling shareholding in a 139.4 MW operating solar project portfolio in Thailand. The company acquired the portfolio from Super Energy, a Thai renewable energy project developer, and its subsidiary, Super Energy Group.
Akaysha Energy, an energy storage project developer, <a href="https://cms.mercomindia.com/akaysha-energy-secures-441-million-in-debt-financing-for-energy-storage-project/" target="_blank" rel="noopener">secured</a> A$650 million (~$440.92 million) in debt financing from a group of eleven domestic and foreign banks. The facility has a three-year tenor and will be used to construct the Orana Battery Energy Storage System project located near Wellington, NSW, within the Central West Orana Renewable Energy Zone , Australia. Once operational, the project will add more than 1,660 MWh of storage capacity to the National Electricity Market.
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-sonnedix-acquires-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Emeren Group Sells 42 MW Solar Project Portfolio in Spain

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-emeren-group-sells-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Emeren Group, a solar project developer, <a href="https://mercomcapital.com/emeren-group-sells-42-mw-solar-project-portfolio-in-spain/" target="_blank" rel="noopener">announced</a> the sale of a 42 MW ready-to-build solar project portfolio in Spain to CVE España, part of CVE, a French independent power producer. The portfolio comprises eight greenfield projects with capacities ranging from 5 MW to 6 MW. One project has already been closed, while the rest will be closed during Q3 and are classified as ready-to-build. Six projects are in Castilla-y-Leon, one in Comunidad Valenciana, and the last in Andalucia.
Enfinity Global, a U.S.-based renewable energy project developer, <a href="https://mercomcapital.com/enfinity-global-secures-164-million-financing-for-solar-project-portfolio/" target="_blank" rel="noopener">closed</a> a $164 million (~JPY 26.24 billion) financing for a 250 MW solar PV project portfolio in Japan. Enfinity Global obtained the funding in partnership with Macquarie Capital and a syndicate led by Shinhan Asset Management. The portfolio comprises seven operating utility-scale solar projects and one project under construction, with an enterprise value of over $1 billion.
CEE Group, a renewable energy asset management firm, <a href="https://mercomcapital.com/cee-group-acquires-102-5-mw-solar-project-in-spain/" target="_blank" rel="noopener">announced</a> the acquisition of a 102.5 MW solar PV project in San Pedro del Pinatar in Murcia, a region in southern Spain, with its CEE Renewable Fund 8. The project is under construction and will be connected to the grid in the second half of 2025. The seller is a European corporation specializing in developing, constructing, and operating renewable energy projects.
Public infrastructure finance company REC Limited has <a href="https://www.mercomindia.com/rec-200-million-loan-deutsche-bank" target="_blank" rel="noopener">secured</a> a green loan of JPY31.96 billion (~$200 million) from Deutsche Bank‘s GIFT City branch to fund green projects in India. This green financing is one of the first JPY-denominated green loan transactions for Deutsche Bank at GIFT City.
Actis’ SE Asia Renewables Platform Levanta Renewables, a renewable energy project developer and independent power producer, <a href="https://mercomcapital.com/levanta-renewables-acquires-139-4-mw-solar-portfolio-in-thailand/" target="_blank" rel="noopener">announced</a> the acquisition of a 90% controlling shareholding in a 139.4 MW operating solar project portfolio in Thailand. The company acquired the portfolio from Super Energy, a Thai renewable energy project developer, and its subsidiary, Super Energy Group.
Akaysha Energy, an energy storage project developer, <a href="https://mercomcapital.com/akaysha-energy-secures-441-million-in-debt-financing-for-energy-storage-project/" target="_blank" rel="noopener">secured</a> A$650 million (~$440.92 million) in debt financing from a group of eleven domestic and foreign banks. The facility has a three-year tenor and will be used to construct the Orana Battery Energy Storage System project located near Wellington, NSW, within the Central West Orana Renewable Energy Zone , Australia. Once operational, the project will add more than 1,660 MWh of storage capacity to the National Electricity Market.
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-sonnedix-acquires-solar-project/" target="_blank" rel="noopener">brief</a>.

Actis&#8217; SE Asia Renewables Platform <a href="https://www.levantarenewables.com/" target="_blank" rel="noopener">Levanta Renewables</a>, a renewable energy project developer and independent power producer, announced the acquisition of a 90% controlling shareholding in a 139.4 MW operating solar project portfolio in Thailand. The company acquired the portfolio from Super Energy, a Thai renewable energy project developer, and its subsidiary, Super Energy Group.
&#8220;We’re looking forward to leveraging our energy generation experience across Asia and deploying our tried and tested playbook to build a utility-scale and C&amp;I business in Thailand, helping the country make the transition away from fossil fuels to a more sustainable energy future,” said Rahul Agrawal Head of Energy for Southeast Asia at Actis.
The portfolio consists of 24 ground-mounted solar projects spread across four provinces in Thailand. Each solar project has a 25-year power purchase agreement with the Provincial Electricity Authority of Thailand.
“The entrance into the Thai energy sector forms an important part of Levanta’s business plan. Earlier this year, we established an office in Bangkok and recruited a local team to pursue C&amp;I solar projects in the country. We intend to leverage this acquisition to further pursue greenfield and brownfield opportunities for both utility-scale and C&amp;I projects in Thailand. We are also excited to partner with Super Energy on this project portfolio and look forward to further business collaboration between the two sides,” said Sudhir Nunes CEO of Levanta Renewables.
According to Mercom’s Q1 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, almost 10.8 GW of solar projects were acquired in Q1 2024 compared to 11.9 GW in Q1 2023. In a quarter-over-quarter comparison, 13.7 GW of solar projects were acquired in Q4 2023.
Recently, Obton, a solar and energy storage project developer, announced its joint venture with GSSG Solar, a solar-focused renewable energy investment company, and its affiliates to <a href="https://cms.mercomindia.com/obton-partners-with-gssg-solar-to-acquire-solar-projects-in-japan/" target="_blank" rel="noopener">acquire</a> nine solar projects in Japan with a total capacity of 117 MW. Eight of the projects are operational and have a total capacity of 104 MW, while one, with a capacity of 13 MW, is under development.

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