Invenergy, a solar, wind, and energy storage project developer, announced closing $1.1 billion in debt financing to support the development and construction of three utility-scale solar projects totaling 590 MW in Ohio, Indiana, and Tennessee. The debt financing comprises a construction/bridge loan facility and a letter of credit facility. The projects are under construction and are expected to reach commercial operation in 2026.
L&G NTR Clean Power (Europe) Fund, a joint partnership between L&G’s asset management division, a global investor, and NTR, an Ireland-based renewable energy investor, announced the acquisition of the 115 MW Ballyteige solar project from RES, a renewable energy company. The project, located in County Offaly, Ireland, has a grid and planning in place. The project is expected to begin construction in 2027.
METLEN Energy & Metals (previously known as MYTILINEOS), a Greek industrial conglomerate, secured €67.9 million (~$71.22 million) in financing to support the construction and development of a solar project portfolio with a total capacity of 71.5 MW in Italy. The financing for these projects was secured through Piraeus, a Greek bank. The portfolio comprises five large-scale solar projects located in strategically important regions, including Emilia Romagna, Lazio, Campania, and Puglia, and is expected to reach completion by the end of this year.
MN8 Energy, an independent renewable energy power producer, closed $612 million in construction bridge financing with Natixis Corporate & Investment Banking acting as the sole bookrunner and administrative agent for this financing. The debt financing will support the development and construction of three solar projects with a total capacity of 517 MWdc across North Carolina, Kentucky, and Illinois.
Matrix Renewables, the TPG Rise-backed global renewable energy company, announced the closing of a €124 million (~$130 million) non-recourse financing to construct a portfolio of three solar projects with a total capacity of 157 MW in Spain. The portfolio is located in the Palencia province of Castilla León and the Cuenca province of Castilla La Mancha. Construction of the projects began in November 2024 and is expected to reach commercial operation in the first quarter of 2026.
Greenbacker, an independent power producer and energy transition-focused investment manager, secured $950 million in aggregate financing for the 674 MWdc/500 MWac Cider solar project in Genesee County, New York. The funding will be used to acquire, construct, and operate the utility-scale solar project. The construction of the project began in late 2024.
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