CWP Europe, an international renewable energy project developer, acquired the 134 MW Studina solar project under development in Romania. The project construction is set to begin in 2023, and commercial operation is expected by the end of 2024. Once operational, the project is expected to provide green electricity to approximately 115,000 households.
CEE Group, a German-based asset manager, acquired a 53 MW solar project in the Netherlands from BayWa r.e., a subsidiary of Munich-based BayWa. The Venekoten/Oosterwolde ground-mounted solar project is in the north of the Netherlands. Rabobank acted as the financing bank for this transaction. The project was completed and commissioned in September 2020 with a nominal output of around 53 MW.
Pacifico Energy, a solar and wind energy project developer, sold a 45 MW solar portfolio to Mytilineos in Italy. The portfolio consists of three ground-mounted utility-scale projects that have received complete permits under the Italian PAUR regime. Pacifico has owned and developed the projects from the greenfield stage since 2019 and will continue to support the projects on their way to commercial operation date as a service provider.
Origis Energy, a vertically integrated renewable energy platform, announced the closing of an upsizing amendment to the development of their solar plus energy storage facility by doubling the investment to $750 million. The company said with enhanced flexibility and increased capacity, the credit facility will support the expansion of its solar and energy storage project pipeline in the United States. The financing round follows the company’s closing of a $375 million credit facility last May.
Singapore-based renewable energy company Vena Energy has achieved the financial closure of the Gudadur hybrid project, a 176 MW wind-solar hybrid project in Karnataka. The project comprises 48 MW of solar capacity and 128 MW of wind capacity and is expected to begin commercial operation in the fourth quarter of 2023. Upon completion, the Gudadur hybrid project will likely generate enough clean energy to meet the annual electricity needs of over 500,000 households and reduce greenhouse gas emissions by 73,688 tons compared to thermal generation.
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.