Cordelio Power, a renewable power producer, acquired a 900 MW pipeline of utility-scale solar projects from SunEast Renewables, a solar project developer. The projects are located primarily in New York, including over 600 MWAC of projects fully contracted under 20-year agreements with the New York State Energy Research Authority (NYSERDA). The remainder of the portfolio comprises early-stage projects located in New York and Pennsylvania. Cordelio expects the projects to be placed into service beginning in 2023.

ScottishPower, a subsidiary of Iberdrola Group, has signed deals to acquire 17 solar photovoltaic (PV) projects with over 800 MW capacity in the United Kingdom. The first deal includes 12 projects of Elgin Energy, and the second consists of five projects of lightsource bp. The company said projects located across England, Scotland, Wales are in advanced stages of development and expected to be operational by 2025. It would invest £500 million (~$683.76 million) for these projects to meet the power needs of more than 220,000 households. With the acquisition of these projects, ScottishPower’s share in the UK solar market elevated from 2% to 9%.

Amp Energy, a renewable energy developer, received $50.5 million in financing for the construction of Amp Energy’s NY3 assets from CIT, a division of First Citizens Bank. NY3 consists of six solar projects located throughout central New York State. When put together, they will comprise a total of 34 MW of generation capacity. Commercial operation is expected to begin in the first quarter of 2022.

X-Elio, a global company specializing in the development, design, construction, maintenance, and operation of photovoltaic plants, in partnership with Brookfield and KKR, received $37 million commitment from Clean Energy Finance Corporation (CEFC), including  ING and Sumitomo Mitsui Banking Corporation (SMBC) for the construction of 200 MWp Blue Grass Solar project in Columboola, South East Queensland.

EDP Renewables, a renewable energy company, signed a Green Loan for €66 million (~$75 million) with European Investment Bank (EIB) to support the construction and operation of six medium-sized onshore wind farms with a total nominal capacity of 150 MW in Poland. The EIB investment will cover close to 50% of total senior debt – the remaining debt amount being provided jointly by Banco Santander and Caixabank Poland, partly backed by an ECA guarantee provided by EKF.

European Energy, a renewable energy project developer, has sold the 103 MW Troia Solar project in Apulia near Foggia, Italy, to Iren Energia. European Energy is also selling the recently grid-connected solar project of 18.5 MW in Palo to Iren Energia in the same agreement. The total energy capacity of the sold parks will be 121.5 MW. The total energy produced is approximately 180 GWh of green energy per year. The closing is expected to occur during Q1 2022 and will be valued at €166 million (~$188.7 million).

Infrastructure Capital Group (ICG), an Australian infrastructure manager, announced it would acquire a majority interest in the Ginan solar and storage portfolio from Providence Asset Group (PAG), a developer, investor, and manager of renewable energy projects across Australia. ICG has made an initial commitment of $100 million, with the capacity to significantly scale the investment further across the development portfolio, co-located batteries, and hydrogen. ICG, through its Australian Renewables Income Fund (ARIF), will take a majority interest in 16 operational solar sites in Victoria (total of 132 MW/73 MW(AC)); with rights to develop a further 25 solar projects across New South Wales, totaling an additional 156 MW/115 MW(AC).

Innova Energy, a private equity-backed solar energy company, has been acquired by Elm Trading (Project Radiant). Innova owns 16 ground-mounted assets in Great Britain with a combined capacity of 61.5 MW, all accredited under either ROC or FIT schemes and some benefitting from private wire PPAs with corporate off-takers. Following the sale of its 3.7 MW commercial rooftop portfolio, Project Radiant concludes a long-term strategy to acquire standalone solar farms to optimize their operations, resulting in a sale dictated by the market of a high-performing aggregated portfolio.

Good Energy, a renewable energy company, has completed the sale of its 47.5 MW wind and solar projects for up to £24.5 million (~$33.3 million). Renewable energy investment specialists Bluefield Partners purchased the portfolio. Bluefield previously acquired the Good Energy developed 49.99 MW West Raynham Solar Farm in 2015.

Standard Solar, a solar energy company specializing in developing and financing solar electric systems nationwide, has acquired the 2.9 MW Klees Mill community solar project from developer partners Ogos Energy and Earth and Air Technologies.

For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.

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