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Origis Energy, a solar project developer, announced $415 million in <a href="https://cms.mercomindia.com/origis-energy-secures-415-million-financing-for-swift-air-solar-project/" target="_blank" rel="noopener">financing</a> to develop the 145 MW Swift Air solar project in Ector County, Texas. The funding was provided by Natixis Corporate &amp; Investment Banking (CIB) and Advantage Capital. Natixis CIB was the sole coordinating lead arranger, hedging bank, LC issuer, green loan coordinator, and administrative agent for the $290 million construction and term debt financing.
ib vogt, a solar and energy storage project developer, announced an <a href="https://cms.mercomindia.com/ib-vogt-sells-780-mw-solar-and-storage-project-portfolio-in-greece/" target="_blank" rel="noopener">agreement</a> to sell a solar and storage project portfolio to Faria Renewables, a Greece-based renewable energy project developer backed by Omnes Capital’s Capenergie 5 fund and the Faria Group. The portfolio comprises around 780 MWp solar projects and battery energy storage systems, which are in various stages of development.
AES Chile, a subsidiary of U.S. utility company AES, announced the <a href="https://cms.mercomindia.com/aes-chile-acquires-171-mw-solar-project-in-chile/" target="_blank" rel="noopener">acquisition</a> of the 171 MWp Atacama solar project from Sonnedix, which develops, builds, and operates renewable energy projects. The project is located between the municipalities of Pica and Pozo Almonte in the Tarapacá Region of Chile. The solar project began commercial operation in April 2021 and features 494,640 solar modules and 48 inverters.
Independent power producer Sunsure Energy has <a href="https://www.mercomindia.com/sunsure-raises-4-billion-aseem-infrastructure" target="_blank" rel="noopener">secured</a> ₹4.16 billion (~$48.07 million) in long-term debt financing from Aseem Infrastructure Finance to develop a 150 MW open access solar park in Solapur, Maharashtra. The project’s first phase is operational, supplying clean energy to industrial customers. The full capacity is scheduled for completion by March 2025.
Linea Energy, a renewable energy project developer sponsored by EnCap Investments, <a href="https://cms.mercomindia.com/linea-energy-secures-financing-for-109-mw-solar-project/" target="_blank" rel="noopener">announced</a> the closing of debt financing for its 109 MWdc Pineview solar project in Wilcox County, Georgia. The funding comprises a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. First Citizens Bank and Norddeutsche Landesbank Girozentrale led a consortium of lenders that provided the funding. The company did not disclose the amount of the project debt financing.
X-ELIO, a Brookfield-owned renewable energy project developer, <a href="https://cms.mercomindia.com/x-elio-sells-50-mw-solar-project-in-spain/" target="_blank" rel="noopener">announced</a> an agreement with Tion Renewables, a Munich-based renewable energy power producer, to sell a 50 MW solar project in the province of Almeria in southern Spain. The company did not disclose the financial details of the acquisition. The transaction is subject to customary closing conditions and is expected to close by the beginning of February.
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-contourglobal-acquires-solar-storage-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Origis Secures $415 Million Financing for Swift Air Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-origis-secures-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Origis Energy, a solar project developer, announced $415 million in <a href="https://mercomcapital.com/origis-energy-secures-415-million-financing-for-swift-air-solar-project/" target="_blank" rel="noopener">financing</a> to develop the 145 MW Swift Air solar project in Ector County, Texas. The funding was provided by Natixis Corporate &amp; Investment Banking (CIB) and Advantage Capital. Natixis CIB was the sole coordinating lead arranger, hedging bank, LC issuer, green loan coordinator, and administrative agent for the $290 million construction and term debt financing.
ib vogt, a solar and energy storage project developer, announced an <a href="https://mercomcapital.com/ib-vogt-sells-780-mw-solar-and-storage-project-portfolio-in-greece/" target="_blank" rel="noopener">agreement</a> to sell a solar and storage project portfolio to Faria Renewables, a Greece-based renewable energy project developer backed by Omnes Capital’s Capenergie 5 fund and the Faria Group. The portfolio comprises around 780 MWp solar projects and battery energy storage systems, which are in various stages of development.
AES Chile, a subsidiary of U.S. utility company AES, announced the <a href="https://mercomcapital.com/aes-chile-acquires-171-mw-solar-project-in-chile/" target="_blank" rel="noopener">acquisition</a> of the 171 MWp Atacama solar project from Sonnedix, which develops, builds, and operates renewable energy projects. The project is located between the municipalities of Pica and Pozo Almonte in the Tarapacá Region of Chile. The solar project began commercial operation in April 2021 and features 494,640 solar modules and 48 inverters.
Independent power producer Sunsure Energy has <a href="https://www.mercomindia.com/sunsure-raises-4-billion-aseem-infrastructure" target="_blank" rel="noopener">secured</a> ₹4.16 billion (~$48.07 million) in long-term debt financing from Aseem Infrastructure Finance to develop a 150 MW open access solar park in Solapur, Maharashtra. The project’s first phase is operational, supplying clean energy to industrial customers. The full capacity is scheduled for completion by March 2025.
Linea Energy, a renewable energy project developer sponsored by EnCap Investments, <a href="https://mercomcapital.com/linea-energy-secures-financing-for-109-mw-solar-project/" target="_blank" rel="noopener">announced</a> the closing of debt financing for its 109 MWdc Pineview solar project in Wilcox County, Georgia. The funding comprises a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. First Citizens Bank and Norddeutsche Landesbank Girozentrale led a consortium of lenders that provided the funding. The company did not disclose the amount of the project debt financing.
X-ELIO, a Brookfield-owned renewable energy project developer, <a href="https://mercomcapital.com/x-elio-sells-50-mw-solar-project-in-spain/" target="_blank" rel="noopener">announced</a> an agreement with Tion Renewables, a Munich-based renewable energy power producer, to sell a 50 MW solar project in the province of Almeria in southern Spain. The company did not disclose the financial details of the acquisition. The transaction is subject to customary closing conditions and is expected to close by the beginning of February.
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-contourglobal-acquires-solar-storage-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.x-elio.com/" target="_blank" rel="noopener">X-ELIO</a>, a Brookfield-owned renewable energy project developer, announced an agreement with Tion Renewables, a Munich-based renewable energy power producer, to sell a 50 MW solar project in the province of Almeria in southern Spain. The company did not disclose the financial details of the acquisition.
The power produced from the project has been contracted under a power purchase agreement with an undisclosed off-taker.
The transaction is subject to customary closing conditions and is expected to close by the beginning of February.
Nicholas Pentreath, CFO at X-ELIO, said, “We are delighted to have reached this agreement with Tion Renewables. This sale once more demonstrates our ability to develop, deliver, and rotate high-quality projects to leading companies in the sector, such as Tion. We are confident that this collaboration marks the beginning of a fruitful relationship between our companies”.
In March 2024, X-ELIO announced the <a href="https://mercomcapital.com/x-elio-secures-97-million-financing-for-solar-projects-in-spain/" target="_blank" rel="noopener">closing</a> of an €89 million (~$96.75 million) financing deal with Societe Generale as sole Bookrunner, Mandated Lead Arranger, and Hedge Provider. Furthermore, Brookfield Renewable, a renewable energy company that owns and operates renewable projects, <a href="https://mercomcapital.com/brookfield-acquires-stake-x-elio-kkr/" target="_blank" rel="noopener">acquired</a> a 50% stake in X-ELIO from private equity firm KKR last year. Following the transaction, Brookfield Renewable owns 100% of X-ELIO.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&amp;A <a href="https://mercomcapital.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.
In September 2024, ib vogt, a solar and energy storage project developer, announced the <a href="https://mercomcapital.com/ib-vogt-sells-110-mw-solar-project-in-spain/" target="_blank" rel="noopener">sale</a> of its 110 MW Pato solar project in Spain to NextPower V ESG, an OECD Fund of NextEnergy Capital. Construction of the solar project began in March 2024.

X-ELIO Sells 50 MW Solar Project in Spain

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