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Southern Power, a subsidiary of Southern Company, an electric utility, <a href="https://cms.mercomindia.com/southern-power-acquires-south-cheyenne-solar-project/" target="_blank" rel="noopener">acquired</a> 150 MW of the South Cheyenne Solar Project from Qcells USA. The project is currently under construction and is expected to reach commercial operation in the first quarter of 2024. The project is located in Wyoming and is Southern Power’s first solar facility in the state.
AMEA Power, a renewable energy company, achieved financial <a href="https://cms.mercomindia.com/amea-power-reaches-financial-close-on-solar-project/" target="_blank" rel="noopener">closure</a> of its 120 MW solar project in Tunisia. The solar project is being implemented by Kairouan Solar Plant, a project company registered in Tunisia and wholly owned by AMEA Power. The project, located in Metbassta, Kairouan governorate, is financed by IFC, a member of the World Bank Group, and the African Development Bank.
Madrid-based green energy group Bruc has <a href="https://www.mercomindia.com/green-energy-group-bruc-portfolio-expansion-in-spain" target="_blank" rel="noopener">signed</a> a financing agreement with seven prominent entities, securing €600 million (~$633.8 million), which will be utilized in developing and operating an 8.5 GW portfolio of solar and wind power projects in Spain. The projects will be in various regions of Spain, including Aragón, Andalusia, Extremadura, Castilla-La Mancha, and Castilla y León. The entities participating in this corporate financing initiative include Santander, ING, Instituto de Crédito Oficial, BNP Paribas, and Intesa Sanpaolo, who have taken on roles as bookrunners and mandated lead arrangers.
Solaria, a U.S.-headquartered solar equipment manufacturer and installer, has <a href="https://www.mercomindia.com/solaria-receives-boost-from-eibs-investeu" target="_blank" rel="noopener">secured</a> €1.7 billion (~$1.8 billion) in financing from the European Investment Bank through the InvestEU program. The financing will support the development of approximately 120 solar photovoltaic power projects, primarily in Spain, Italy, and Portugal, with a combined installed capacity of 5.6 GW.
Enea, a renewable energy company, <a href="https://cms.mercomindia.com/enea-acquires-35-mw-solar-project-in-poland/" target="_blank" rel="noopener">acquired</a> the 35 MW Genowefa solar project from PAD RES, a joint venture between Kajima Europe and Griffin Capital Partners in Poland. The project is located near Kleczew, Greater Poland Voivodeship. The construction began in April 2022, and the plant started producing energy in August 2023. The plant consists of 65,420 panels and covers an area of about 40 hectares.
SUSI Partners, a Switzerland-based investment firm acting on behalf of SUSI Energy Transition Fund, has <a href="https://www.susi-partners.com/susi-partners-secures-debt-financing-for-chilean-solar-pv-portfolio/" target="_blank" rel="noopener">secured</a> debt funding for a 107 MW distributed solar project portfolio in Chile. The funding was secured from the Miami branch of local bank Banco de Crédito e Inversiones, acting as lender and administrative agent, and Norway’s largest financial services group, DNB. The greenfield distributed generation projects, which benefit from stabilized offtake prices under Chile’s PMGD regime, are under construction. The entire portfolio is expected to be fully operational by the end of 2024.
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-recurrent-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Southern Power Acquires 150 MW Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-southern-power-acquires-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Southern Power, a subsidiary of Southern Company, an electric utility, <a href="https://mercomcapital.com/southern-power-acquires-south-cheyenne-solar-project/" target="_blank" rel="noopener">acquired</a> 150 MW of the South Cheyenne Solar Project from Qcells USA. The project is currently under construction and is expected to reach commercial operation in the first quarter of 2024. The project is located in Wyoming and is Southern Power’s first solar facility in the state.
AMEA Power, a renewable energy company, achieved financial <a href="https://mercomcapital.com/amea-power-reaches-financial-close-on-solar-project/" target="_blank" rel="noopener">closure</a> of its 120 MW solar project in Tunisia. The solar project is being implemented by Kairouan Solar Plant, a project company registered in Tunisia and wholly owned by AMEA Power. The project, located in Metbassta, Kairouan governorate, is financed by IFC, a member of the World Bank Group, and the African Development Bank.
Madrid-based green energy group Bruc has <a href="https://www.mercomindia.com/green-energy-group-bruc-portfolio-expansion-in-spain" target="_blank" rel="noopener">signed</a> a financing agreement with seven prominent entities, securing €600 million (~$633.8 million), which will be utilized in developing and operating an 8.5 GW portfolio of solar and wind power projects in Spain. The projects will be in various regions of Spain, including Aragón, Andalusia, Extremadura, Castilla-La Mancha, and Castilla y León. The entities participating in this corporate financing initiative include Santander, ING, Instituto de Crédito Oficial, BNP Paribas, and Intesa Sanpaolo, who have taken on roles as bookrunners and mandated lead arrangers.
Solaria, a U.S.-headquartered solar equipment manufacturer and installer, has <a href="https://www.mercomindia.com/solaria-receives-boost-from-eibs-investeu" target="_blank" rel="noopener">secured</a> €1.7 billion (~$1.8 billion) in financing from the European Investment Bank through the InvestEU program. The financing will support the development of approximately 120 solar photovoltaic power projects, primarily in Spain, Italy, and Portugal, with a combined installed capacity of 5.6 GW.
Enea, a renewable energy company, <a href="https://mercomcapital.com/enea-acquires-35-mw-solar-project-in-poland/" target="_blank" rel="noopener">acquired</a> the 35 MW Genowefa solar project from PAD RES, a joint venture between Kajima Europe and Griffin Capital Partners in Poland. The project is located near Kleczew, Greater Poland Voivodeship. The construction began in April 2022, and the plant started producing energy in August 2023. The plant consists of 65,420 panels and covers an area of about 40 hectares.
SUSI Partners, a Switzerland-based investment firm acting on behalf of SUSI Energy Transition Fund, has <a href="https://www.susi-partners.com/susi-partners-secures-debt-financing-for-chilean-solar-pv-portfolio/" target="_blank" rel="noopener">secured</a> debt funding for a 107 MW distributed solar project portfolio in Chile. The funding was secured from the Miami branch of local bank Banco de Crédito e Inversiones, acting as lender and administrative agent, and Norway’s largest financial services group, DNB. The greenfield distributed generation projects, which benefit from stabilized offtake prices under Chile’s PMGD regime, are under construction. The entire portfolio is expected to be fully operational by the end of 2024.
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-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.southerncompany.com/" target="_blank" rel="noopener">Southern Power</a>, a subsidiary of Southern Company, an electric utility, acquired 150 MW of South Cheyenne Solar Project from Qcells USA. The project is currently under construction and is expected to reach commercial operation in the first quarter of 2024. The project is located in Wyoming and is Southern Power&#8217;s first solar facility in the state.
Once operational, the electricity and associated renewable energy credits generated by the facility will be sold under a 20-year power purchase agreement. This project aligns with Southern Power&#8217;s overall business strategy of strengthening its wholesale business by acquiring and developing generating assets that are covered by long-term contracts with counterparties with strong credit support.
With the addition of South Cheyenne, Southern Power&#8217;s solar portfolio includes more than 2,740 MW of solar generation. Southern Power&#8217;s solar facilities are a part of the company&#8217;s 5,280 MW renewable fleet, which consists of 30 solar and 15 wind facilities operating or under construction.
&#8220;We take pride in providing unique development solutions and fostering a strong, collaborative partnership for driving renewable energy advancements,&#8221; said Qcells USA President IP Kim. &#8220;We are proud to partner with Southern Power to deliver long-term value to Wyoming customers through the South Cheyenne Solar Facility.&#8221;
Last week, Southern Power <a href="https://cms.mercomindia.com/southern-power-acquires-solar-project-200mw-texas/" target="_blank" rel="noopener">acquired</a> the 200 MW Millers Branch solar project from EDF Renewables.
According to Mercom&#8217;s 1H and Q2 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, in the first half (1H) of 2023, 116 solar project acquisitions totaling 25.5 GW were announced compared to 148 project acquisitions totaling 37.8 GW in 1H 2022.

Southern Power Acquires 150 MW South Cheyenne Solar Project

Recurrent Energy, a wholly-owned subsidiary of Canadian Solar and a utility-scale solar and energy storage project developer, <a href="https://cms.mercomindia.com/recurrent-energy-secures-financing-liberty-solar-project/" target="_blank" rel="noopener">closed</a> project financing for its 134 MW (100 MWac) Liberty Solar project. The project is under construction in Liberty County, Texas, and is expected to reach operations in 2024. Rabobank, Nord LB, and U.S. Bank will provide construction debt, a letter of credit facility, and a term facility totaling $120 million. U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, will provide the tax equity totaling $80 million.
Southern Power, an electric utility subsidiary of Southern Company, <a href="https://cms.mercomindia.com/southern-power-acquires-solar-project-200mw-texas/" target="_blank" rel="noopener">acquired</a> the 200 MW Millers Branch solar project from EDF Renewables. The solar facility is currently in the early stages of development and has the potential to expand up to 500 MW. The project is located in Haskell County, Texas. Southern Power will lead the continued development and construction of the Millers Branch, which is expected to achieve commercial operation in the fourth quarter of 2025.
Cubico Sustainable Investments, a London-based renewable energy developer and asset owner, has <a href="https://www.prnewswire.co.uk/news-releases/cubico-sustainable-investments-acquires-121-mw-of-wind-and-solar-in-uruguay-301936150.html" target="_blank" rel="noopener">completed</a> the acquisition of three operational projects in Uruguay from Brookfield. The transaction comprises two wind projects, 52 MW Carape I and 43 MW Carape II in Maldonado, and one solar photovoltaic project, 26 MW Alto Cielo in Artigas.
Renewable energy company Enfinity Global has announced the <a href="https://www.mercomindia.com/enfinity-boosts-renewable-solar-asset-acquisition-in-us" target="_blank" rel="noopener">acquisition</a> of 546 MW of solar assets under development in Colorado, United States, from the engineering, procurement, and construction (EPC) firm CS Energy. The acquisition encompasses three solar projects in Colorado, a region with a mandate to achieve 100% renewable energy by 2050.
DSD Renewables, a solar and energy storage solutions provider, <a href="https://cms.mercomindia.com/dsd-acquires-community-solar-portfolio-in-minnesota/" target="_blank" rel="noopener">acquired</a> a community solar portfolio totaling 15 MW in Minnesota from New Energy Equity. The construction of the four solar projects is already ongoing and is slated to start at the remaining five sites by the end of 2023. Completion of the entire portfolio is expected by 2024.
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-samsung-sells-solar-energy-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Recurrent Secures Financing for 100 MW Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-recurrent-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Recurrent Energy, a wholly-owned subsidiary of Canadian Solar and a utility-scale solar and energy storage project developer, <a href="https://mercomcapital.com/recurrent-energy-secures-financing-liberty-solar-project/" target="_blank" rel="noopener">closed</a> project financing for its 134 MW (100 MWac) Liberty Solar project. The project is under construction in Liberty County, Texas, and is expected to reach operations in 2024. Rabobank, Nord LB, and U.S. Bank will provide construction debt, a letter of credit facility, and a term facility totaling $120 million. U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, will provide the tax equity totaling $80 million.
Southern Power, an electric utility subsidiary of Southern Company, <a href="https://mercomcapital.com/southern-power-acquires-solar-project-200mw-texas/" target="_blank" rel="noopener">acquired</a> the 200 MW Millers Branch solar project from EDF Renewables. The solar facility is currently in the early stages of development and has the potential to expand up to 500 MW. The project is located in Haskell County, Texas. Southern Power will lead the continued development and construction of the Millers Branch, which is expected to achieve commercial operation in the fourth quarter of 2025.
Cubico Sustainable Investments, a London-based renewable energy developer and asset owner, has <a href="https://www.prnewswire.co.uk/news-releases/cubico-sustainable-investments-acquires-121-mw-of-wind-and-solar-in-uruguay-301936150.html" target="_blank" rel="noopener">completed</a> the acquisition of three operational projects in Uruguay from Brookfield. The transaction comprises two wind projects, 52 MW Carape I and 43 MW Carape II in Maldonado, and one solar photovoltaic project, 26 MW Alto Cielo in Artigas.
Renewable energy company Enfinity Global has <a href="https://www.mercomindia.com/enfinity-boosts-renewable-solar-asset-acquisition-in-us" target="_blank" rel="noopener">announced</a> the acquisition of 546 MW of solar assets under development in Colorado, United States, from the engineering, procurement, and construction (EPC) firm CS Energy. The acquisition encompasses three solar projects in Colorado, a region with a mandate to achieve 100% renewable energy by 2050.
DSD Renewables, a solar and energy storage solutions provider, <a href="https://mercomcapital.com/dsd-acquires-community-solar-portfolio-in-minnesota/" target="_blank" rel="noopener">acquired</a> a community solar portfolio totaling 15 MW in Minnesota from New Energy Equity. The construction of the four solar projects is already ongoing and is slated to start at the remaining five sites by the end of 2023. Completion of the entire portfolio is expected by 2024.
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-samsung-sells-solar-energy-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.southerncompany.com/n" target="_blank" rel="noopener">Southern Power</a>, a subsidiary of Southern Company, an electric utility, acquired the 200 MW Millers Branch solar project from EDF Renewables. The solar facility is currently in the early stages of development and has the potential to expand up to 500 MW.
The project is located in Haskell County, Texas. Southern Power will lead the continued development and construction of the Millers Branch, which is expected to achieve commercial operation in the fourth quarter of 2025.
Once operational, the electricity and associated renewable energy credits generated by the 200 MW facility will be sold under a 20-year virtual power purchase agreement with Thermo Fisher Scientific, which uses the renewable energy certificates to drive progress toward its net zero-by-2050 commitment. With the addition of Millers Branch, Southern Power&#8217;s solar portfolio consists of more than 2,590 MW of solar generation.
.
&#8220;Millers Branch represents a significant milestone for Southern Power as we are entering this project with expansion opportunities,&#8221; said Southern Power President Robin Boren. &#8220;The project exemplifies Southern Power&#8217;s ongoing commitment to enhancing our solar portfolio as we build the future of energy.&#8221;
Southern Power&#8217;s solar facilities are a part of the company&#8217;s 5,130 MW renewable fleet, which consists of 29 solar and 15 wind facilities currently operating or under construction.
This Month, <a href="https://www.samsungcnt.com/" target="_blank" rel="noopener">Samsung C&amp;T Renewables</a>, a renewable energy development and investment company and the renewable energy corporation of South Korea&#8217;s Samsung C&amp;T in the U.S., <a href="https://cms.mercomindia.com/samsung-ct-renewables-sells-solar-energy-storage-projects/" target="_blank" rel="noopener">signed</a> a contract for sale and development services for a 3 GW solar and ESS (energy storage system) project in southern Texas to Sunraycer Renewables.
According to Mercom&#8217;s 1H and Q2 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, in the first half (1H) of 2023, 116 solar project acquisitions totaling 25.5 GW were announced compared to 148 project acquisitions totaling 37.8 GW in 1H 2022.
DSD Renewables (DSD), a provider of solar PV energy and energy storage solutions, <a href="https://cms.mercomindia.com/dsd-acquires-community-solar-portfolio-in-minnesota/" target="_blank" rel="noopener">recently</a> acquired a community solar portfolio totaling 15 MW in Minnesota from New Energy Equity.

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