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Solar Landscape, a U.S.-based commercial rooftop solar developer, <a href="https://cms.mercomindia.com/solar-landscape-secures-175m-financing-rooftop-solar-projects/" target="_blank" rel="noopener">announced</a> a $175 million long-term partnership with PGIM Private Capital, a private capital arm of PGIM, to finance its growing portfolio of projects that feed electricity directly into the distributed grid, initially across Maryland and Illinois. The partnership, in the form of an institutional shelf debt facility, will finance the construction and operation of 74 solar landscape projects on commercial rooftops in the two states.
Eku Energy, an energy storage project developer, <a href="https://cms.mercomindia.com/eku-energy-secures-financing-99-mw-198-mwh-battery-storage-project/" target="_blank" rel="noopener">secured</a> more than £45 million (~$59 million) debt financing to construct a 99 MW/198 MWh battery energy storage project at Ocker Hill, between the towns of Dudley and Wednesbury in the West Midlands in England. NatWest Bank and Sumitomo Mitsui Banking Corporation provided the project’s financing. Construction is expected to begin next month and will be completed in late 2026.
Ignitis Renewables, a green energy company, <a href="https://cms.mercomindia.com/ignitis-renewables-secures-239-mw-solar-projects/" target="_blank" rel="noopener">secured</a> a €77.5 million (~$87.24 million) loan from Swedbank Lithuania and Swedbank Latvia for developing and constructing solar projects of 239 MW capacity in Stelpe and Vārme in Latvia. The banks granted funds in equal amounts. The solar projects are currently under development and are expected to reach commercial operation within this year.
Aypa Power, a Blackstone portfolio company and developer of utility-scale energy storage and hybrid renewable energy projects, <a href="https://cms.mercomindia.com/aypa-power-secures-535-million-for-320-mw-solar-and-storage-project/" target="_blank" rel="noopener">announced</a> closing $535 million in debt financing to support the development of the 320 MW Vidal solar-plus-storage project in San Bernardino County, California. The hybrid project, scheduled to come online in 2026, has a long-term power purchase agreement with the San Diego Community Power.
Thrive Renewables, a renewable energy investment company, <a href="https://cms.mercomindia.com/thrive-renewables-acquires-14-mw-solar-project/" target="_blank" rel="noopener">announced</a> the acquisition of the 14 MW Dunmow solar project in Essex, U.K., from PS Renewables, a renewable energy project developer. The project’s construction is completed, and commercial operation is expected to begin in May. With new project development rights secured, the company’s total capacity is expected to increase from 91.5 MW to 170.1 MW by 2027.
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-pivot-energy-community-solar-portfolio/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Solar Landscape Secures $175 Million Financing for Rooftop Solar Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-solar-landscape-financing-rooftop-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Solar Landscape, a U.S.-based commercial rooftop solar developer, <a href="https://mercomcapital.com/solar-landscape-secures-175m-financing-rooftop-solar-projects/" target="_blank" rel="noopener">announced</a> a $175 million long-term partnership with PGIM Private Capital, a private capital arm of PGIM, to finance its growing portfolio of projects that feed electricity directly into the distributed grid, initially across Maryland and Illinois. The partnership, in the form of an institutional shelf debt facility, will finance the construction and operation of 74 solar landscape projects on commercial rooftops in the two states.
Eku Energy, an energy storage project developer, <a href="https://mercomcapital.com/eku-energy-secures-financing-99-mw-198-mwh-battery-storage-project/" target="_blank" rel="noopener">secured</a> more than £45 million (~$59 million) debt financing to construct a 99 MW/198 MWh battery energy storage project at Ocker Hill, between the towns of Dudley and Wednesbury in the West Midlands in England. NatWest Bank and Sumitomo Mitsui Banking Corporation provided the project’s financing. Construction is expected to begin next month and will be completed in late 2026.
Ignitis Renewables, a green energy company, <a href="https://mercomcapital.com/ignitis-renewables-secures-239-mw-solar-projects/" target="_blank" rel="noopener">secured</a> a €77.5 million (~$87.24 million) loan from Swedbank Lithuania and Swedbank Latvia for developing and constructing solar projects of 239 MW capacity in Stelpe and Vārme in Latvia. The banks granted funds in equal amounts. The solar projects are currently under development and are expected to reach commercial operation within this year.
Aypa Power, a Blackstone portfolio company and developer of utility-scale energy storage and hybrid renewable energy projects, <a href="https://mercomcapital.com/aypa-power-secures-535-million-for-320-mw-solar-and-storage-project/" target="_blank" rel="noopener">announced</a> closing $535 million in debt financing to support the development of the 320 MW Vidal solar-plus-storage project in San Bernardino County, California. The hybrid project, scheduled to come online in 2026, has a long-term power purchase agreement with the San Diego Community Power.
Thrive Renewables, a renewable energy investment company, <a href="https://mercomcapital.com/thrive-renewables-acquires-14-mw-solar-project/" target="_blank" rel="noopener">announced</a> the acquisition of the 14 MW Dunmow solar project in Essex, U.K., from PS Renewables, a renewable energy project developer. The project’s construction is completed, and commercial operation is expected to begin in May. With new project development rights secured, the company’s total capacity is expected to increase from 91.5 MW to 170.1 MW by 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-pivot-energy-community-solar-portfolio/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.thriverenewables.co.uk/" target="_blank" rel="noopener">Thrive Renewables</a>, a renewable energy investment company, announced the acquisition of the 14 MW Dunmow solar project in Essex, U.K., from PS Renewables, a renewable energy project developer.
The construction of the project is completed, and commercial operation is expected to begin in May.
Fair Play Clean Energy, a joint venture between Thrive Renewables and TopCashback Sustainability, provided the financing for the project. The combined financing totals up to £80 million (~$106.4 million) in capital to fund new clean energy projects in the U.K.
With new project development rights secured, the company&#8217;s total capacity is expected to increase from 91.5 MW to 170.1 MW by 2027.
&#8220;Solar power has a huge role to play in the fight against the climate emergency. Not only is it one of the cheapest ways to generate electricity today, it&#8217;s also one of the quickest to deploy, which means more homegrown, clean power for homes and businesses across the country. Although Thrive has invested in ground mount solar via partners such as Ethical Power, this is the first solar farm that we will own and operate. We&#8217;re excited to further diversify our portfolio, drawing value from across the technology mix as we support the U.K.&#8217;s transition to a more resilient, sustainable, and secure energy system,&#8221; said Monika Paplaczyk, Chief Investment Officer, Thrive Renewables.
&#8220;We are pleased to have completed this transaction with Thrive Renewables and to begin a relationship that will undoubtedly support the U.K.&#8217;s clean energy ambitions. Our team takes great pride in delivering high-quality, reliable renewable energy projects, and we look forward to working together to accelerate the transition to a low-carbon future,&#8221; said Jose Luis Gandia, Managing Director, PS Renewables.
According to Mercom&#8217;s Q1 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.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.
Last week, Innova, a utility-scale renewable energy project developer, <a href="https://cms.mercomindia.com/innova-sells-tolldish-hall-solar-project-uk/" target="_blank" rel="noopener">announced</a> the sale of the 25 MW Tolldish Hall solar project to ISG Renewables, a joint venture platform between Innova and Schroders Greencoat.

Thrive Renewables Acquires 14 MW Solar Project

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