Capital Dynamics, an independent global private asset management firm, secured €185 million (~$199.54 million) in project financing for two solar projects—currently under construction—with a total capacity of 187 MW in Sicily, Italy. Natixis Corporate and Investment Banking are the lenders. Natixis CIB acted as sole underwriter, structuring mandated lead arranger and bookrunner, agent, green loan coordinator, and issuing bank of the ancillary guarantee facilities.
Qcells, a utility-scale solar and energy storage project developer and solar EPC provider, announced the sale of Ursa Solar Project (formerly known as Langdon Mills Solar), which has a total capacity of 200 MW, to We Energies, Wisconsin Public Service Corporation, and Madison Gas and Electric Company. The company plans to begin the construction of the project in 2025 and expects it to be operational in 2027.
The Asian Development Bank has approved a $434.25 million loan to increase renewable energy capacity and improve energy security in Assam. The Assam Solar Project will construct a 500 MW grid-connected solar photovoltaic facility in Karbi Anglong district. The project will also support the development of a battery energy storage system to ensure grid stability and meet peak power demand.
QatarEnergy, a petroleum company in Qatar, signed an agreement with TotalEnergies to acquire 50% of the stake in the 1.25 GW solar project in Iraq which is subject to regulatory approvals. TotalEnergies, a France-based oil and gas company, will retain the remaining 50%.
AMPYR Solar Europe, a European solar project developer, secured financial closure for its 96 MW solar project in the municipality of Noordoostpolder in the Netherlands. The project is expected to be operational by mid-2025. The project’s development will be financed through AMPYR Solar Europe’s €200 million (~$216.8 million) omnibus multi-project financing facility from Rabobank.
Swift Current Energy, a utility-scale solar, wind, and energy storage project developer, announced the closing of tax equity financing with PNC Bank for its 138 MWdc (99 MWac) Harvest Gold Solar Project in Sunflower County, Mississippi. The solar project has already begun its operation this summer, producing clean electricity enough to power over 23,000 households per Swift Current Energy.
Click here for reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance brief.
