Recurrent Energy, a solar and energy storage project developer and a wholly owned subsidiary of Canadian Solar, announced the financial closure of the Carwarp Energy Park in Australia. Westpac Banking Corporation, Australia and New Zealand Banking Group Limited, and Société Générale, Sydney Branch, provided the funding. The funding amount was not disclosed. The Carwarp Energy project, located in Northwest Victoria near the town of Carwarp, consists of 171 MW of solar with a stage two hybrid 120 MW co-located battery energy storage system.
DRI, an Amsterdam-based renewable energy company and a subsidiary of the DTEK Group, secured €24.7 million (~$25.93 million) in non-recourse financing from Kommunalkredit Austria AG, an infrastructure and energy financing bank in Europe to develop and construct its 60 MW Glodeni II solar project in Glodeni, Mures County, Romania. According to the company, the solar project will reach commercial operation by early 2025.
CleanCapital, an independent power producer focused on distributed clean energy, announced the acquisition of a solar portfolio comprising 40 projects with a total capacity of 22.7 MW from Kendall Sustainable Infrastructure, an asset management firm. The acquired solar portfolio consists of net-metering and community solar projects, which reached commercial operation between 2015 and 2018. The financial terms of the transaction remained undisclosed.
Origis Energy, a vertically integrated renewable energy platform provider and solar project developer, announced closing $533 million in a construction financing facility, bridge loan facility, and conversion to a term loan with MUFG, a global financial group. Latham & Watkins advised Origis Energy, while Milbank served as the legal counsel for MUFG in the transaction. The Optimist solar project is expected to reach completion in late 2025, while the Wheatland solar project is scheduled for operation in early 2026.
Nozomi Energy, a Japan-focused renewable energy company established by sustainable infrastructure investor Actis, announced the acquisition of a portfolio of 12 operational solar projects totaling 312 MW with a Japanese co-investor. The financial details of the transaction were not disclosed. The acquired portfolio consists of entirely operational solar projects with capacities from 1 MW to over 60 MW. Nine of the 12 projects are based in Japan’s Kanto areas, with the remaining projects in Tohoku, Chubu, and Kyushu.
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