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Luxcara, an independent asset manager specializing in clean energy infrastructure projects, has announced the <a href="https://mercomcapital.com/luxcara-acquires-520-mw-battery-storage-project-in-germany/" target="_blank" rel="noopener">acquisition</a> of a 520 MW battery energy storage system in Waltrop, Germany, from an undisclosed company. The project will be constructed on a previously unused site that was originally designed for a coal-fired power plant. Construction on the project is scheduled to begin in 2026. Financial details of the acquisition were not disclosed.
Recurrent Energy, a solar and energy storage project developer and wholly owned subsidiary of Canadian Solar, <a href="https://mercomcapital.com/recurrent-energy-secures-71-million-financing-for-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of €61.5 million (~$70.8 million) in non-recourse debt financing for its Italian solar project portfolio. Santander Bank provided the financing. The financing package supports a portfolio comprising 124 MW of operational solar projects, as well as the construction of a co-located battery energy storage system.
INOXGFL Group’s subsidiary Inox Neo Energies has <a href="https://www.mercomindia.com/inox-acquires-skypower-solar-india-50-mw-solar" target="_blank" rel="noopener">completed</a> the acquisition of Skypower Solar India, which operates a 50 MW solar power project in Madhya Pradesh. Skypower Solar India has an enterprise value of approximately ₹2.65 billion (~$30.97 million), which is 5.3 times the earnings before interest, taxes, depreciation, and amortization over the past 12 months. The 50 MW solar project in Khandwa district was commissioned in the financial year 2018.
Zelestra, a renewable energy project developer, <a href="https://mercomcapital.com/zelestra-secures-282-million-financing-for-aurora-hybrid-project/" target="_blank" rel="noopener">secured</a> $282 million in a project financing package for the Aurora project, comprising a 220 MWdc solar project and approximately 1 GWh of battery energy storage system located in Tarapacá, Chile. Natixis CIB and BNP Paribas are providing the financing, with a VAT facility granted by BCI.
OMV Petrom, an integrated energy producer in Southeastern Europe, <a href="https://mercomcapital.com/omv-petrom-acquires-50-stake-in-400-mw-gabare-solar-project/" target="_blank" rel="noopener">acquired</a> a 50% stake in Dunav Solar Plant EOOD, which is developing the Gabare solar project with an installed capacity of approximately 400 MW. The company acquired the stake from Enery Element, a renewable energy project developer. The solar project is located in Byala Slatina, near Sofia, Bulgaria. It has the option to add a battery energy storage system with a capacity of up to 600 MWh in the future. Commercial operation of the Gabare solar project is expected in 2027.
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-nexwell-power-acquires-248-mw-solar-project-portfolio/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Luxcara Acquires 520 MW Battery Storage Project in Germany

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-luxcara-acquires-battery-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Luxcara, an independent asset manager specializing in clean energy infrastructure projects, has announced the <a href="https://mercomcapital.com/luxcara-acquires-520-mw-battery-storage-project-in-germany/" target="_blank" rel="noopener">acquisition</a> of a 520 MW battery energy storage system in Waltrop, Germany, from an undisclosed company. The project will be constructed on a previously unused site that was originally designed for a coal-fired power plant. Construction on the project is scheduled to begin in 2026. Financial details of the acquisition were not disclosed.
Recurrent Energy, a solar and energy storage project developer and wholly owned subsidiary of Canadian Solar, <a href="https://mercomcapital.com/recurrent-energy-secures-71-million-financing-for-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of €61.5 million (~$70.8 million) in non-recourse debt financing for its Italian solar project portfolio. Santander Bank provided the financing. The financing package supports a portfolio comprising 124 MW of operational solar projects, as well as the construction of a co-located battery energy storage system.
INOXGFL Group’s subsidiary Inox Neo Energies has <a href="https://www.mercomindia.com/inox-acquires-skypower-solar-india-50-mw-solar" target="_blank" rel="noopener">completed</a> the acquisition of Skypower Solar India, which operates a 50 MW solar power project in Madhya Pradesh. Skypower Solar India has an enterprise value of approximately ₹2.65 billion (~$30.97 million), which is 5.3 times the earnings before interest, taxes, depreciation, and amortization over the past 12 months. The 50 MW solar project in Khandwa district was commissioned in the financial year 2018.
Zelestra, a renewable energy project developer, <a href="https://mercomcapital.com/zelestra-secures-282-million-financing-for-aurora-hybrid-project/" target="_blank" rel="noopener">secured</a> $282 million in a project financing package for the Aurora project, comprising a 220 MWdc solar project and approximately 1 GWh of battery energy storage system located in Tarapacá, Chile. Natixis CIB and BNP Paribas are providing the financing, with a VAT facility granted by BCI.
OMV Petrom, an integrated energy producer in Southeastern Europe, <a href="https://mercomcapital.com/omv-petrom-acquires-50-stake-in-400-mw-gabare-solar-project/" target="_blank" rel="noopener">acquired</a> a 50% stake in Dunav Solar Plant EOOD, which is developing the Gabare solar project with an installed capacity of approximately 400 MW. The company acquired the stake from Enery Element, a renewable energy project developer. The solar project is located in Byala Slatina, near Sofia, Bulgaria. It has the option to add a battery energy storage system with a capacity of up to 600 MWh in the future. Commercial operation of the Gabare solar project is expected in 2027.
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-nexwell-power-acquires-248-mw-solar-project-portfolio/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.omvpetrom.com/en" target="_blank" rel="noopener">OMV Petrom</a>, an integrated energy producer in Southeastern Europe, acquired a 50% stake in Dunav Solar Plant EOOD, which is developing the Gabare solar project with an installed capacity of approximately 400 MW. The company acquired the stake from <a href="https://enery-element.eu/" target="_blank" rel="noopener">Enery Element</a>, a renewable energy project developer.
The solar project is located in Byala Slatina, near Sofia, Bulgaria. It has the option to add a battery energy storage system with a capacity of up to 600 MWh in the future. Commercial operation of the Gabare solar project is expected in 2027.
The transaction is expected to close in the second half of 2025, following the fulfillment of certain conditions. Construction permits and the grid connection have already been obtained for the project. Additionally, the final investment decision is scheduled to be made by the end of 2025.
OMV Petrom and Enery plan to invest approximately €200 million (~$230.32 million) through this partnership, including external financing.
“This joint venture is a strong testament to Enery’s ability to structure innovative partnerships that deliver both scale and certainty, as well as Enery Element’s development capability in the region. By securing a 50% long-term PPA with OMV Petrom as part of the investment framework, we are not only ensuring long-term revenue stability for the project but also setting a benchmark for how industrial players can actively participate in the energy transition in the region”, said Richard König, Chief Executive Officer of Enery.
According to Mercom’s Q1 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.
Recently, Nexwell Power, a Nexwell Group institutional-grade platform focused on accelerating the energy transition, announced the <a href="https://mercomcapital.com/nexwell-power-acquires-248-mw-solar-project-portfolio/" target="_blank" rel="noopener">acquisition</a> of a 248 MW solar project portfolio from Q ENERGY, a renewable energy company headquartered in Berlin and an affiliate of the Hanwha Group.

OMV Petrom Acquires 50% Stake in 400 MW Gabare Solar Project

OMV Petrom, an oil and gas company, has signed an agreement to <a href="https://cms.mercomindia.com/omv-petrom-acquires-solar-projects-romania/" target="_blank" rel="noopener">acquire</a> 710 MW solar projects in Romania from Danish developer Jantzen Renewables. The parks will be one of Southeast Europe’s most significant photovoltaic projects, powering the equivalent consumption of ~280,000 Romanian households annually.
Matrix Renewables, the TPG Rise-backed renewable energy platform, announced the <a href="https://cms.mercomindia.com/matrix-renewables-acquires-solar-project-texas/" target="_blank" rel="noopener">acquisition</a> of a 284 MW Stillhouse solar project in Texas from OCI Solar Power, a utility-scale solar project developer. The project is in the late stages of development, and its construction is slated to be completed by 2024, with commercial operations scheduled for 2025.
Endesa, a Spain-based electric utility company, has <a href="https://www.mercomindia.com/endesa-545-million-develop-4-8-gw-renewable-projects" target="_blank" rel="noopener">signed</a> sustainability-linked financing agreements worth €500 million (~$545.7 million) with Instituto de Crédito Oficial (ICO), a state-owned bank in Spain and the European Investment Bank (EIB) to finance the development of its 4.8 GW of renewable energy portfolio in the country.
Grenergy, an independent renewable power producer, <a href="https://grenergy.eu/wp-content/uploads/2023/07/NdP-3-INGLES-Financiacion-Chile-en-GB.docx-1.pdf?_gl=1*2c19d5*_up*MQ..*_ga*MjUwNTM0MDkxLjE2ODgzODIxMTU.*_ga_2FRD58T21S*MTY4ODM4MjExNC4xLjAuMTY4ODM4MjExNC4wLjAuMA" target="_blank" rel="noopener">secured</a> $148 million in green financing for the construction of the Gran Teno and Tamango solar projects located in Chile, with a combined capacity of 300 MW. The transaction was signed with French banks BNP Paribas and Societe Générale. This also includes other complementary credit lines. The transaction is structured as a Green Use of Proceeds loan with the funds used to finance renewable energy projects.
Energix Renewables, a U.S.-headquartered independent power producer, has <a href="https://www.mercomindia.com/energix-renewables-six-solar-projects-in-the-us" target="_blank" rel="noopener">closed</a> two project financing transactions totaling $520 million with Santander Corporate &amp; Investment Banking (Santander CIB) and Morgan Stanley Renewables to develop six utility-scale solar projects in the U.S. The financing deals involve a consortium led by Santander CIB, providing a construction and term loan facility of $260 million, while Morgan Stanley is acting as a tax equity investor with a commitment of $260 million.
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-edf-acquires-solar-portfolio-germany/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: OMV Petrom Acquires 710 MW Solar Projects in Romania

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-omv-petrom-acquires-710-mw-solar-projects-in-romania/" target="_blank" rel="noopener">Mercom Capital Group</a>
OMV Petrom, an oil and gas company, has signed an agreement to <a href="https://mercomcapital.com/omv-petrom-acquires-solar-projects-romania/" target="_blank" rel="noopener">acquire</a> 710 MW solar projects in Romania from Danish developer Jantzen Renewables. The parks will be one of Southeast Europe’s most significant photovoltaic projects, powering the equivalent consumption of ~280,000 Romanian households annually.
Matrix Renewables, the TPG Rise-backed renewable energy platform, announced the <a href="https://mercomcapital.com/matrix-renewables-acquires-solar-project-texas/" target="_blank" rel="noopener">acquisition</a> of a 284 MW Stillhouse solar project in Texas from OCI Solar Power, a utility-scale solar project developer. The project is in the late stages of development, and its construction is slated to be completed by 2024, with commercial operations scheduled for 2025.
Endesa, a Spain-based electric utility company, has <a href="https://www.mercomindia.com/endesa-545-million-develop-4-8-gw-renewable-projects" target="_blank" rel="noopener">signed</a> sustainability-linked financing agreements worth €500 million (~$545.7 million) with Instituto de Crédito Oficial (ICO), a state-owned bank in Spain and the European Investment Bank (EIB) to finance the development of its 4.8 GW of renewable energy portfolio in the country.
Grenergy, an independent renewable power producer, <a href="https://grenergy.eu/wp-content/uploads/2023/07/NdP-3-INGLES-Financiacion-Chile-en-GB.docx-1.pdf?_gl=1*2c19d5*_up*MQ..*_ga*MjUwNTM0MDkxLjE2ODgzODIxMTU.*_ga_2FRD58T21S*MTY4ODM4MjExNC4xLjAuMTY4ODM4MjExNC4wLjAuMA" target="_blank" rel="noopener">secured</a> $148 million in green financing for the construction of the Gran Teno and Tamango solar projects located in Chile, with a combined capacity of 300 MW. The transaction was signed with French banks BNP Paribas and Societe Générale. This also includes other complementary credit lines. The transaction is structured as a Green Use of Proceeds loan with the funds used to finance renewable energy projects.
Energix Renewables, a U.S.-headquartered independent power producer, has <a href="https://www.mercomindia.com/energix-renewables-six-solar-projects-in-the-us" target="_blank" rel="noopener">closed</a> two project financing transactions totaling $520 million with Santander Corporate &amp; Investment Banking (Santander CIB) and Morgan Stanley Renewables to develop six utility-scale solar projects in the U.S. The financing deals involve a consortium led by Santander CIB, providing a construction and term loan facility of $260 million, while Morgan Stanley is acting as a tax equity investor with a commitment of $260 million.
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-edf-acquires-solar-portfolio-germany/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.omvpetrom.com/" target="_blank" rel="noopener">OMV Petrom</a>, an oil and gas company, has signed an agreement to acquire 710 MW of solar projects in Romania from Danish developer Jantzen Renewables. The parks will be one of Southeast Europe&#8217;s most significant photovoltaic projects, powering the equivalent consumption of ~280,000 Romanian households annually.
The photovoltaic parks will be built in Teleorman County. The locations chosen for the PV parks have the potential for strong yields in terms of solar energy. Thus, the estimated production for 25 years of operations is 23,900 GWh, enough to power the equivalent of ~280,000 Romanian households annually. The projects have already been granted access to the national electricity transmission network.
Franck Neel, member of the OMV Petrom Executive Board, responsible for the Gas and Power activity: “This purchase supports the achievement of OMV Petrom&#8217;s strategic objective of having an installed renewables capacity of at least 1 GW by 2030, including through partnerships. In addition, it allows us to adequately respond to the ever-increasing demand for green energy while simultaneously strengthening Romania&#8217;s security of supply and energy resilience.”
Christian Jantzen, Co-founder &amp; CEO of Jantzen Renewables: “The photovoltaic parks represent a great leap forward, and it further helps pave the way for a greener future for Romania. We are proud to develop one of Southeast Europe&#8217;s most significant photovoltaic projects. We have a solid commitment to Romanian renewables; these photovoltaic parks and our strong pipeline bears witness hereof.”
According to Mercom’s Q1 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, there were 67 large-scale solar project acquisitions in Q1 2023, compared to 61 transactions in Q4 2022. Matrix Renewables, the TPG Rise-backed renewable energy platform, recently <a href="https://cms.mercomindia.com/matrix-renewables-acquires-solar-project-texas/" target="_blank" rel="noopener">announced</a> the acquisition of 284 MW of late-stage development of the Stillhouse solar project in Texas from OCI Solar Power, a utility-scale solar project developer. Construction of the project is slated for 2024, with commercial operations commencing in 2025.

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