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Primo Chemicals to Procure Solar Power from TPCS’ 50 MW Project

Borosil’s Revenue Up 17% YoY in Q1, Advances 600 TPD Solar Glass Expansion

Enlight Renewable Energy, a renewable energy project developer, <a href="https://mercomcapital.com/enlight-secures-financing-solar-storage-project/" target="_blank" rel="noopener">announced</a> the closing of $550 million debt financing for the project Roadrunner, located in the Sulphur Springs Valley region near Tucson, Arizona. The project, also known as Apache Solar II, consists of 200 MW of solar and 940 MWh of energy storage capacity. The construction at the project site has already begun, and the project is expected to reach commercial operation by the end of 2025.
Kavram Enerji, a subsidiary of Türkiye-based renewable energy developer Fiba Yenilenebilir Enerji Holding (Fiba Renewables), <a href="https://mercomcapital.com/fiba-renewables-secures-42-million-loan-from-ebrd-in-turkiye/" target="_blank" rel="noopener">secured</a> a $42 million (€39.7 million) loan from the European Bank for Reconstruction and Development to develop hybrid solar projects in the country. The portfolio includes a 55 MW hybrid solar project in Isparta and a 20 MW hybrid solar project in Balikesir. Once operational, the projects are expected to reduce carbon emissions of the Turkish power system by around 37,000 tons per year.
Econergy, an independent renewable energy power producer, <a href="https://mercomcapital.com/econergy-secures-40-million-financing-for-92-mw-solar-project-in-romania/" target="_blank" rel="noopener">announced</a> the signing of a project financing agreement valued at approximately €38 million (~$39.61 million) with Raiffeisen Bank International AG. The funding will be used to repay loans provided by related parties for the acquisition, development, and construction of the 92 MW Parau solar project in Romania, which became operational earlier this year. The loan includes a maturity of up to 10.5 years, structured repayments, and a balloon payment at final maturity, with an interest rate linked to the six-month EURIBOR at a competitive margin.
ACME Renewtech, a subsidiary of solar energy company ACME Solar Holdings, has <a href="https://www.mercomindia.com/acme-renewtech-wind-solar-hybrid-project" target="_blank" rel="noopener">secured </a> ₹19.88 billion (~$232.3 million) in term loan financing from the Power Finance Corporation to fund a 300 MW solar-wind hybrid project. The project’s solar component will be in Bikaner, Rajasthan, and the wind sites in Bhuj, Gujarat. The project is set to begin commercial operations by June 30, 2025. The project will utilize the interstate transmission system charges waiver.
Nordic Solar, a Denmark-based developer and owner of solar projects, <a href="https://mercomcapital.com/nordic-solar-sells-2-8-mw-solar-project-in-france/" target="_blank" rel="noopener">announced</a> the signing of a share purchase agreement for the 2.8 MW Montmayon solar project in France. The company sold the project to an undisclosed acquirer. The financial terms of the acquisition remained undisclosed. The transaction is Nordic Solar’s first in France. In addition, the company is planning to divest its other solar projects in the near future. In 2024, it sold three projects, the highest number of divestments completed in a single year by the company so far.
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&#8217;s project finance <a href="https://mercomcapital.com/project-finance-brief-recurrent-energy-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Enlight Secures $550 Million Financing for Solar Plus Storage Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-enlight-secures-financing-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Enlight Renewable Energy, a renewable energy project developer, <a href="https://mercomcapital.com/enlight-secures-financing-solar-storage-project/" target="_blank" rel="noopener">announced</a> the closing of $550 million debt financing for the project Roadrunner, located in the Sulphur Springs Valley region near Tuscon, Arizona. The project, also known as Apache Solar II, consists of 200 MW of solar and 940 MWh of energy storage capacity. The construction at the project site has already begun, and the project is expected to reach commercial operation by the end of 2025.
Kavram Enerji, a subsidiary of Türkiye-based renewable energy developer Fiba Yenilenebilir Enerji Holding (Fiba Renewables), <a href="https://mercomcapital.com/fiba-renewables-secures-42-million-loan-from-ebrd-in-turkiye/" target="_blank" rel="noopener">secured</a> a $42 million (€39.7 million) loan from the European Bank for Reconstruction and Development to develop hybrid solar projects in the country. The portfolio includes a 55 MW hybrid solar project in Isparta and a 20 MW hybrid solar project in Balikesir. Once operational, the projects are expected to reduce carbon emissions of the Turkish power system by around 37,000 tons per year.
Econergy, an independent renewable energy power producer, <a href="https://mercomcapital.com/econergy-secures-40-million-financing-for-92-mw-solar-project-in-romania/" target="_blank" rel="noopener">announced</a> the signing of a project financing agreement valued at approximately €38 million (~$39.61 million) with Raiffeisen Bank International AG. The funding will be used to repay loans provided by related parties for the acquisition, development, and construction of the 92 MW Parau solar project in Romania, which became operational earlier this year. The loan includes a maturity of up to 10.5 years, structured repayments, and a balloon payment at final maturity, with an interest rate linked to the six-month EURIBOR at a competitive margin.
ACME Renewtech, a subsidiary of solar energy company ACME Solar Holdings, has <a href="https://www.mercomindia.com/acme-renewtech-wind-solar-hybrid-project" target="_blank" rel="noopener">secured </a> ₹19.88 billion (~$232.3 million) in term loan financing from the Power Finance Corporation to fund a 300 MW solar-wind hybrid project. The project’s solar component will be in Bikaner, Rajasthan, and the wind sites in Bhuj, Gujarat. The project is set to begin commercial operations by June 30, 2025. The project will utilize the interstate transmission system charges waiver.
Nordic Solar, a Denmark-based developer and owner of solar projects, <a href="https://mercomcapital.com/nordic-solar-sells-2-8-mw-solar-project-in-france/" target="_blank" rel="noopener">announced</a> the signing of a share purchase agreement for the 2.8 MW Montmayon solar project in France. The company sold the project to an undisclosed acquirer. The financial terms of the acquisition remained undisclosed. The transaction is Nordic Solar’s first in France. In addition, the company is planning to divest its other solar projects in the near future. In 2024, it sold three projects, the highest number of divestments completed in a single year by the company so far.
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-recurrent-energy-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.nordicsolar.eu/" target="_blank" rel="noopener">Nordic Solar</a>, a Denmark-based developer and owner of solar project, announced the signing of a share purchase agreement for the 2.8 MW Montmayon solar project in France. The company sold the project to an undisclosed acquirer.
The financial terms of the acquisition remained undisclosed.
The transaction is Nordic Solar’s first in France. In addition, the company is planning to divest its other solar projects in the near future. In 2024, it sold three projects, the highest number of divestments completed in a single year by the company so far.
“The first divestment of a solar park in France, as well as completing the second sale within a few weeks, is a significant achievement for us. It demonstrates our ability to execute our divestments and shows that our organization is well-equipped to deliver on the strategy laid out. These divestments are also a good example of our commitment to generating long-term returns for our investors. We have operated the plant for 8 years, with strong performance figures, and concluded the process with a divestment to enhance growth and capital recycling,” says Chief Investment Officer Holger Bang.
Previously, the company announced the sale of the operational 1 MW Pellegrino solar project in the Parma region of Italy and the Sella portfolio totaling 12.84 MWp across Italy this year.
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>, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
Earlier in December, DRI, a renewable energy company based in Amsterdam and a subsidiary of the DTEK Group, announced the signing and completion of a <a href="https://cms.mercomindia.com/dri-acquires-166-mw-solar-project-portfolio-in-italy/" target="_blank" rel="noopener">purchase</a> agreement to develop a 166 MWp solar portfolio in Sardinia, Italy.

Nordic Solar Sells 2.8 MW Solar Project in France

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					</table>Here are some noteworthy cleantech announcements of the day from around the world:
Fluence Energy, a U.S.-based energy storage company, <a href="https://ir.fluenceenergy.com/news-releases/news-release-details/fluence-announces-india-technology-centre-underscoring" target="_blank" rel="noopener">announced</a> the opening of a new global technology center in Bengaluru. The center is expected to support the company’s global product strategy by growing engineering capabilities, scaling global talent, and strengthening Fluence’s local presence in the country. The technology team is expected to be the key to expanding the company’s sixth-generation product line, which is delivering a range of grid services to customers worldwide and creating next-generation products.
The Prime Minister’s office <a href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=1839786" target="_blank" rel="noopener">outlined</a> the details of the PM GatiShakti-National Master Plan (NMP) for infrastructure development, launched in October 2021. The plan was launched to bring different ministries/utilities and infrastructure planning under a single unified vision across all sectors such as Highways, Railways, Aviation, Gas, Power Transmission, and Renewable Energy. The GatiShakti NMP portal will provide a ‘One-click Comprehensive view’ to steer and simplify the planning and implementation process by reducing the time and cost of implementation in power transmission projects.  It would also aid in improving logistics efficiency through a single digital and multi-modal portal. In developing power transmission projects, the portal is expected to play a critical role in the planning, tendering, implementation, and approval stages.  The portal will map the requisite details of the nine high-impact projects by the Ministry of Power by creating a separate layer of ISTS transmission lines incorporating primary data like Line route, tower location, location of substation, and name of the owner.
Azure Power, a renewable power producer in India, <a href="https://www.prnewswire.com/news-releases/azure-power-becomes-the-first-renewable-energy-company-in-india-to-be-sa8000-certified-301582168.html" target="_blank" rel="noopener">announced</a> that it was awarded SA8000:2014 certification, an international standard for social accountability. The company claims to be India&#8217;s first renewable energy company to have been awarded this certification. SA8000 is the world&#8217;s leading social certification program and is an auditable standard that requires organizations to develop, maintain, and apply socially acceptable practices in the workplace, including the supply chain.
IIT Kharagpur <a href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=1839484" target="_blank" rel="noopener">announced</a> that it has developed an indigenous, efficient, affordable, and certified BLDC (Brushless DC) motor and smart controller for e-Rickshaws under the Indigenous Development of Electric Vehicle Sub-systems program. The technology was transferred to Brushless Motor India for commercial production. The program was initiated by the Ministry of Electronics and Information Technology to address the challenge of having to import most of the EV components and to increase local manufacturing.
Nordic Solar, a Denmark-based energy company, <a href="https://nordicsolar.eu/en/nordic-solar-enters-sweden-with-four-new-solar-parks-in-the-south/" target="_blank" rel="noopener">signed</a> a partnership agreement with Helios Nordic Energy to develop and establish four solar parks in southern Sweden with a combined capacity of 220 MW. The four solar parks are expected to generate energy for private consumers or businesses equivalent to the consumption of 44,000 private households. The solar parks are expected to be completed in 2023, 2024, and 2025. Nordic Solar, which develops, builds, and operates solar parks on an industrial scale, is now in 12 European countries.

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