Atlas Renewable Energy, a solar and wind project developer, secured a COP 473.77 billion (~$113 million) senior loan to develop, construct, and operate the 201 MW Shangri-La solar project in the Tolima Department of Colombia. IDB Invest and Bancolombia provided the financial package. The project is expected to reach commercial operation at the end of 2025.
Sol Systems, a solar finance and development company, announced the acquisition of over 2 GW of utility-scale hybrid solar and storage projects across the Midwest from Tenaska, the Omaha-based energy company. The portfolio spans multiple states within the Midwest. The projects, each exceeding 100 MW, are expected to reach commercial operation between 2028 and 2029.
Eurowind Energy, a Danish-based renewable energy project developer, announced the signing of a shares purchase agreement in August to acquire 11 solar projects with 5 MWac capacity each. Most of the projects are grouped in clusters of three (15 MW each), and all are in the Aveiro district in the center of Portugal. The projects are currently in an advanced stage of development and are expected to reach the ready-to-build stage between Q3 2024 and Q2 2025.
OX2, a solar and energy storage project developer, announced the sale of two solar projects totaling 137 MWp/105 MWac to European Energy, a Danish renewable energy project developer. The deal includes project rights for the 106 MWp/80 MWac Lancaster solar in Victoria and the 31 MWp/25 MWac Mulwala solar in New South Wales, Australia. The construction of both projects is scheduled to begin in the first quarter of 2025, and commercial operations are expected in 2026.
Encavis, a solar and wind project developer, has signed a non-recourse project financing agreement of €60.7 million (~$67.10 million) for its 114.2 MW Lindenhof solar project in Germany. Bayerische Landesbank, a long-standing financing partner of ENCAVIS for years, provided the financing, thereby supporting the group’s future growth strategy. In total, the funding includes €46.8 million (~$51.73 million) in term loan facilities, a €2.75 million (~$3.04 million) VAT facility, and €11.1 million (~$12.27 million) in letter of credit facilities.
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