ACCIONA Energía, a renewable energy company, secured an AUD$453 million (~$287.85 million) syndicated loan facility to construct its 480 MWp Aldoga solar project on the central Queensland coast in Australia. The company secured the facility through Cesce, the Spanish export credit agency, under its green investment policy. Four banks provided the loan facility, including Banco Santander, BNP Paribas, ING, and J.P. Morgan.
Recurrent Energy, a solar and energy storage project developer and wholly owned subsidiary of Canadian Solar, announced the closing of $183 million in project and tax equity financing for its 200 MWh Fort Duncan storage project in Maverick County, Texas. The project is currently under construction and is expected to reach commercial operations by the summer of 2025. Nord/LB led the project financing.
Equis Australia, a battery storage project developer, announced the closing of an AUD 260 million (~$163 million) non-recourse senior debt funding package for the 250 MW/500 MWh Calala Battery Energy Storage System located in Tamworth, New South Wales, Australia. Westpac, Societe Generale, and Sumitomo Mitsui Banking Corp. provided the financing. The company also announced that construction of the project has begun, with commercial operation expected by 2027.
British Solar Renewables, an integrated solar project developer in the U.K., announced the acquisition of the Little Crow solar project from INRG Solar, a solar project developer. The project includes a 150 MWp solar installation co-located with a 60 MW battery energy storage system. The project is located 2.5 kilometers northwest of the village of Broughton in Lincolnshire, U.K.
Fotowatio Renewable Ventures Australia, a renewable energy project developer and part of Jameel Energy and the Canadian infrastructure fund OMERS, announced the acquisition of the Axedale project from ACEN Australia, a renewable energy project developer. The project, comprising a 140 MWac solar and 50 MW/100 MWh battery energy storage system, is located 20 km east of Bendigo, Victoria, Australia. The battery storage system is capable of operating for two hours.
Renewable energy solutions provider KPI Green Energy has secured a credit facility of ₹2.72 billion (~$31.4 million) to part finance a 50 MW hybrid power project at Bharuch, Gujarat, comprising 75.2 MW of solar and 16.9 MW of wind capacity. The company received the final sanction letter from the National Bank for Financing Infrastructure and Development for the credit facilities.
For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.
Read last week’s project finance brief.
