AMPYR Solar Europe, an independent solar power producer, has secured a €200 million (~$215 million) project finance facility with Rabobank to construct and operate 350 MW of solar photovoltaic projects across Europe. The facility will be drawn immediately to finance three solar photovoltaic assets in the Netherlands, with more to follow later this year.
Spearmint Energy, a green energy trading and development company, closed a $200 million credit facility with Aiga Capital Partners, an investment management firm. The term loan will support the development of Spearmint’s 1.2 GW / 2.4 GWh portfolio of battery energy storage system assets in Texas’ ERCOT power market and continued expansion of the Company’s innovative, utility-scale storage portfolio across the U.S.
Spain-based independent power producer Iberdrola and the European Investment Bank have signed a loan agreement worth €1 billion (~$1.07 billion) to bolster the energy transition in Europe by building 22 renewable energy projects with an installed capacity of 2.2 GW. The loan will help co-finance the construction of 19 solar power projects and three onshore wind farms in Spain, Portugal, and Germany.
The AES Corporation, a U.S.-based utility and power generation company, has acquired ownership of the Bellefield solar-plus-storage project with a capacity of 2 GW in the United States. Located in Kern County, California, the project comprises two phases, each of 500 MW of solar capacity and up to 500 MW of four-hour duration battery energy storage.
Q Energy, a solar, wind, and storage project developer, sold a 76 MW solar project portfolio in Spain. The portfolio consists of two solar projects, around 38 MW each, in the Spanish province of Ciudad Real. The projects are ready to build and are expected to be connected to the grid by 2024. Q ENERGY will install more than 138,00 high-performance solar modules on trackers to maximize the system’s energy yields.
AES Andes, an electric utility company, has acquired a 146 MW solar project in Chile from EDF Renewables Chile and Marubeni Corporation. The Bolero solar project is located in the municipality of Sierra Gorda, in the Atacama Desert, in the region of Antofagasta. The photovoltaic project has an installed capacity of 146 MW over 518 hectares. The photovoltaic park is divided into two sections: Bolero Este and Bolero Oeste, with an installed capacity of 60 MWp and 86 MWp, respectively.
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.