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ContourGlobal, an independent power producer and a KKR company, <a href="https://cms.mercomindia.com/contourglobal-acquires-446-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a solar project portfolio totaling 446 MWp from Qcells, a solar cell manufacturer and project developer. The portfolio comprises two projects in Colorado and Virginia. The Northern Colorado project, totaling 324 MWp capacity, is under construction, while the Virginia project, totaling 122 MWp, is expected to begin construction in 2026.
TSE, a solar project developer, announced the <a href="https://cms.mercomindia.com/tse-secures-103-million-for-solar-project-portfolio-in-france/" target="_blank" rel="noopener">closing</a> of €100 million (~$102.7 million) in project financing from Crédit Agricole Transitions &amp; Energies and the Caisse d’Epargne CEPAC. The round brings the company’s total funding raised in 2024 to €220 million (~$229 million). The deals were completed in December 2024. The funding will support the construction and operation of seven ground-mounted solar projects totaling 120 MW.
Quinbrook Infrastructure Partners, an investment manager focused on renewables, <a href="https://cms.mercomindia.com/quinbrook-secures-450-million-funding-for-battery-energy-storage-project/" target="_blank" rel="noopener">announced</a> the closing of AUD$722 million (~$449.98 million) in new debt financing for Stages 1 and 2 of its Supernode battery storage project in Queensland, which have a combined capacity of 520 MW/1,856 MWh. Origin Energy has signed a long-term offtake agreement with Quinbrook for the project. A consortium of banks provided the funding, including Bank of America, Commonwealth Bank of Australia, Deutsche Bank, Mizuho Bank, and MUFG Bank.
Cenergy Power, a solar project developer, <a href="https://cms.mercomindia.com/cenergy-power-secures-equity-investment-for-300-mw-solar-portfolio/" target="_blank" rel="noopener">announced</a> the closing of a preferred equity investment from Aiga Capital Partners, a minority-owned investment advisor. The financing will support the development of the company’s solar project portfolio, totaling more than 300 MW of capacity. The portfolio includes over 50 MW of projects in operational and under-construction stages across sites in Maine, Illinois, and California. The company did not disclose the financial details of the investment.
EQUITA Capital SGR, a multi-asset management platform and part of the Italian investment bank EQUITA Group, <a href="https://cms.mercomindia.com/equita-capital-acquires-75-stake-in-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> that EQUITA Green Impact Fund launched its deployment phase with a binding offer to acquire a 75% stake in a 74 MW solar project portfolio from DOMINION, an end-to-end project development company. The portfolio includes four projects, two in Sicily and two in Basilicata, Italy, in the ready-to-build stage.
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-emeren-sells-65-mw-solar-portfolio-in-germany/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: ContourGlobal Acquires 446 MW Solar Project Portfolio

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-contourglobal-solar-project-portfolio/" target="_blank" rel="noopener">Mercom Capital Group</a>
ContourGlobal, an independent power producer and a KKR company, <a href="https://mercomcapital.com/contourglobal-acquires-446-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a solar project portfolio totaling 446 MWp from Qcells, a solar cell manufacturer and project developer. The portfolio comprises two projects in Colorado and Virginia. The Northern Colorado project, totaling 324 MWp capacity, is under construction, while the Virginia project, totaling 122 MWp, is expected to begin construction in 2026.
TSE, a solar project developer, announced the <a href="https://mercomcapital.com/tse-secures-103-million-for-solar-project-portfolio-in-france/" target="_blank" rel="noopener">closing</a> of €100 million (~$102.7 million) in project financing from Crédit Agricole Transitions &amp; Energies and the Caisse d’Epargne CEPAC. The round brings the company’s total funding raised in 2024 to €220 million (~$229 million). The deals were completed in December 2024. The funding will support the construction and operation of seven ground-mounted solar projects totaling 120 MW.
Quinbrook Infrastructure Partners, an investment manager focused on renewables, <a href="https://mercomcapital.com/quinbrook-secures-450-million-funding-for-battery-energy-storage-project/" target="_blank" rel="noopener">announced</a> the closing of AUD$722 million (~$449.98 million) in new debt financing for Stages 1 and 2 of its Supernode battery storage project in Queensland, which have a combined capacity of 520 MW/1,856 MWh. Origin Energy has signed a long-term offtake agreement with Quinbrook for the project. A consortium of banks provided the funding, including Bank of America, Commonwealth Bank of Australia, Deutsche Bank, Mizuho Bank, and MUFG Bank.
Cenergy Power, a solar project developer, <a href="https://mercomcapital.com/cenergy-power-secures-equity-investment-for-300-mw-solar-portfolio/" target="_blank" rel="noopener">announced</a> the closing of a preferred equity investment from Aiga Capital Partners, a minority-owned investment advisor. The financing will support the development of the company’s solar project portfolio, totaling more than 300 MW of capacity. The portfolio includes over 50 MW of projects in operational and under-construction stages across sites in Maine, Illinois, and California. The company did not disclose the financial details of the investment.
EQUITA Capital SGR, a multi-asset management platform and part of the Italian investment bank EQUITA Group, <a href="https://mercomcapital.com/equita-capital-acquires-75-stake-in-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> that EQUITA Green Impact Fund launched its deployment phase with a binding offer to acquire a 75% stake in a 74 MW solar project portfolio from DOMINION, an end-to-end project development company. The portfolio includes four projects, two in Sicily and two in Basilicata, Italy, in the ready-to-build stage.
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-emeren-sells-65-mw-solar-portfolio-in-germany/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.tse.energy/en" target="_blank" rel="noopener">TSE</a>, a solar project developer, announced the closing of €100 million (~$102.7 million) in project financing from Crédit Agricole Transitions &amp; Energies (CA T&amp;E) and the Caisse d’Epargne CEPAC. The round brings the company’s total funding raised in 2024 to €220 million (~$229 million). The deals were completed in December 2024.
The funding will support the construction and operation of seven ground-mounted solar projects totaling 120 MW. These projects are located across several sites in France, including Ardennes, Seine-Maritime, Cher, Nord, and Loiret.
The timeline for the construction and commissioning of the projects was not disclosed. The company plans to expand its portfolio of projects under construction and operation from 300 MW at the end of 2024 to 1 GW by the end of 2027.
“Thanks to the commitment of our teams, the support of our financial partners, the industrialization of our processes and our forward-looking strategy, we are consolidating our position as a benchmark player, both in terms of quality and innovation and now in terms of the quantity of projects developed, making TSE a leading player in renewable energy in France. These results will enable us to continue to innovate and support local and regional authorities as they move towards a low-carbon future. I would like to thank the Caisse d’Epargne CEPAC, Crédit Agricole Transitions &amp; Energies and Eiffel Investment Group for their confidence and their commitment to us,” said Mathieu Debonnet, President of TSE.
According to Mercom’s recently released Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding deals in 2024 totaled $53.8 billion in 259 deals, up from $44.5 billion raised in 229 deals in 2023.
In December 2024, TSE <a href="https://mercomcapital.com/agrivoltaics-project-developer-tse-secures-68-5-million-financing/" target="_blank" rel="noopener">secured</a> bond debt funding of €65 million (~$68.5 million) from the Eiffel Investment Group Fund. The debt funding will enable TSE to develop and construct new solar projects with a combined capacity of 800 MW.

TSE Secures $103 Million for Solar Project Portfolio in France

CEE Group, a Hamburg-based renewable energy asset management firm, <a href="https://cms.mercomindia.com/cee-group-acquires-102-mw-solar-project-in-germany/" target="_blank" rel="noopener">announced</a> the acquisition of the 102 MW Klüden solar project in the Börde district in Saxony-Anhalt, Germany  from Sunovis, a Germany-based solar project developer. The construction of the solar project already began in September 2024, with commercial operation expected in April 2025.
Gulf Renewable Energy, a subsidiary of Gulf Energy Development Public Company, <a href="https://cms.mercomindia.com/gulf-renewable-energy-secures-820-million-loan-for-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of a $820 million loan to support the construction of a portfolio of 12 renewable energy projects across Thailand. The portfolio includes eight ground-mounted solar projects totaling 393 MW and four ground-mounted solar projects with battery energy storage systems totaling 256 MW and 396 MWh of energy storage.
Spruce Power, an owner and operator of distributed residential solar systems, <a href="https://cms.mercomindia.com/spruce-power-acquires-residential-solar-portfolio-in-new-jersey/" target="_blank" rel="noopener">announced</a> the acquisition of a residential solar portfolio from NJR Clean Energy Ventures (CEV), a subsidiary of New Jersey Resources for $132.5 million. The acquired portfolio, known as Spruce Power 5 Portfolio, includes approximately 9,800 solar systems in New Jersey, which were installed under a CEV residential solar program between 2010 and 2024.
Alpiq, a Switzerland-based electricity producer, announced the <a href="https://cms.mercomindia.com/alpiq-acquires-100-mw-200-mwh-battery-storage-project-in-france/" target="_blank" rel="noopener">acquisition</a> of the 100 MW/200 MWh battery energy storage project located in the department of Oise, north of Paris, France from Harmony Energy, a renewable energy project developer. The project is expected to be commissioned in autumn 2026.
Yinson Renewables, an independent renewable power producer, <a href="https://cms.mercomindia.com/yinson-renewables-secures-59-million-financing-for-solar-project/" target="_blank" rel="noopener">secured</a> a $59 million senior secured green financing for the 97 MWp Matarani solar project located near Arequipa, Peru. IDB Invest and Natixis Corporate &amp; Investment Banking provided the funding. The project achieved full commercial operations in September 2024 and is backed by a long-term Power Purchase Agreement (PPA) with Orygen, a Peru-based renewable energy supplier and generator.
TSE, a French solar developer specializing in agrivoltaics projects, <a href="https://cms.mercomindia.com/agrivoltaics-project-developer-tse-secures-68-5-million-financing/" target="_blank" rel="noopener">secured</a> a bond debt funding of €65 million (~$68.5 million) from the Eiffel Investment Group Fund. The debt funding will enable TSE to develop and construct new solar projects with a combined capacity of 800 MW. Astris Finance advised TSE as financial advisor and Gibson Dunn as legal advisor. Clifford Chance advised Eiffel Investment Group as legal counsel.
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-baywa-r-e-sells-solar-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: CEE Group Acquires 102 MW Solar Project in Germany

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-cee-group-solar-project-germany/" target="_blank" rel="noopener">Mercom Capital Group</a>
CEE Group, a Hamburg-based renewable energy asset management firm, <a href="https://mercomcapital.com/cee-group-acquires-102-mw-solar-project-in-germany/" target="_blank" rel="noopener">announced</a> the acquisition of the 102 MW Klüden solar project in the Börde district in Saxony-Anhalt, Germany  from Sunovis, a Germany-based solar project developer. The construction of the solar project already began in September 2024, with commercial operation expected in April 2025.
Gulf Renewable Energy, a subsidiary of Gulf Energy Development Public Company, <a href="https://mercomcapital.com/gulf-renewable-energy-secures-820-million-loan-for-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of a $820 million loan to support the construction of a portfolio of 12 renewable energy projects across Thailand. The portfolio includes eight ground-mounted solar projects totaling 393 MW and four ground-mounted solar projects with battery energy storage systems totaling 256 MW and 396 MWh of energy storage.
Spruce Power, an owner and operator of distributed residential solar systems, <a href="https://mercomcapital.com/spruce-power-acquires-residential-solar-portfolio-in-new-jersey/" target="_blank" rel="noopener">announced</a> the acquisition of a residential solar portfolio from NJR Clean Energy Ventures (CEV), a subsidiary of New Jersey Resources for $132.5 million. The acquired portfolio, known as Spruce Power 5 Portfolio, includes approximately 9,800 solar systems in New Jersey, which were installed under a CEV residential solar program between 2010 and 2024.
Alpiq, a Switzerland-based electricity producer, announced the <a href="https://mercomcapital.com/alpiq-acquires-100-mw-200-mwh-battery-storage-project-in-france/" target="_blank" rel="noopener">acquisition</a> of the 100 MW/200 MWh battery energy storage project located in the department of Oise, north of Paris, France from Harmony Energy, a renewable energy project developer. The project is expected to be commissioned in autumn 2026.
Yinson Renewables, an independent renewable power producer, <a href="https://mercomcapital.com/yinson-renewables-secures-59-million-financing-for-solar-project/" target="_blank" rel="noopener">secured</a> a $59 million senior secured green financing for the 97 MWp Matarani solar project located near Arequipa, Peru. IDB Invest and Natixis Corporate &amp; Investment Banking provided the funding. The project achieved full commercial operations in September 2024 and is backed by a long-term Power Purchase Agreement (PPA) with Orygen, a Peru-based renewable energy supplier and generator.
TSE, a French solar developer specializing in agrivoltaics projects, <a href="https://mercomcapital.com/agrivoltaics-project-developer-tse-secures-68-5-million-financing/" target="_blank" rel="noopener">secured</a> a bond debt funding of €65 million (~$68.5 million) from the Eiffel Investment Group Fund. The debt funding will enable TSE to develop and construct new solar projects with a combined capacity of 800 MW. Astris Finance advised TSE as financial advisor and Gibson Dunn as legal advisor. Clifford Chance advised Eiffel Investment Group as legal counsel.
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-baywa-r-e-sells-solar-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.tse.energy/en" target="_blank" rel="noopener">TSE</a>, a French solar developer specializing in agrivoltaics projects, secured a bond debt funding of €65 million (~$68.5 million) from the Eiffel Investment Group Fund.
The funding was carried out through the group’s energy transition infrastructure debt funds, Eiffel Energy Transition III and the FCPRs MAIF Rendement Vert, Allianz Transition Energétique, and Eiffel Infrastructures Vertes. The debt funding will enable TSE to develop and construct new solar projects with a combined capacity of 800 MW. Astris Finance advised TSE as financial advisor and Gibson Dunn as legal advisor. Eiffel Investment Group was advised by Clifford Chance as legal counsel.
“The success of this transaction allows TSE to acquire a financing structure adapted to its growth plan and testifies to the confidence of investors in the solidity of its model. It also makes it possible to place our CSR ambition at the heart of our financing strategy,” TSE’s chief executive Jean-Edouard Allard said.
In 2021, TSE inaugurated the Marville photovoltaic power plant, which it claims is the second-largest power plant in France. In 2023, the company raised €130 million (~$137 million) in equity investment from Eurazeo, Credit Agricole, and Bpifrance.
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>, large-scale project funding in 9M 2024 totaled $34.3 billion in 180 deals, up from $27.5 billion in 169 deals in 9M 2023.
AMPYR Solar Europe, a solar project developer, announced the <a href="https://cms.mercomindia.com/ampyr-solar-europe-secures-253-million-financing-for-solar-projects/" target="_blank" rel="noopener">closing</a> of an up to £200 million (~$253.33 million) project finance facility with NORD/LB, a German-based commercial bank, to develop and construct a 400 MW solar project in the U.K. Clifford Chance served as a legal advisor to AMPYR Solar Europe and White &amp; Case represented NORD/LB on the transaction.

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