DIF Capital Partners, a Dutch fund manager and German solar PV developer ib vogt, have agreed to acquire a 100% interest in a 720-MW greenfield solar-plus-storage portfolio in the UK. The portfolio includes seven project sites, with 380 MW solar and 340 MW battery storage. The portfolio was acquired from Enso Green Holdings. The financial details of the agreement were not disclosed. Other terms include DIF acquiring a 90% stake through its DIF Infrastructure VII Fund.
U.S.-based clean energy investment platform CleanCapital acquired a 34.5 MW portfolio of operating solar projects in New Jersey. All the projects have been operational since 2019 and serve various commercial & industrial off-takers, including the Six Flags theme park, a manufacturing facility, the CentraState medical system, and the Borough of Carlstadt.
France-based fund manager Rgreen Invest and investment advisor Echosys Invest have raised €87.5 million (~$92.2 million) as part of their Afrigreen Debt Impact Fund to finance on and off-grid solar power projects for small and medium-sized (C&I) consumers in Africa. The first closing includes commitments from the European Investment Bank, the International Finance Corporation, the Belgian Investment Company for Developing Countries, and PROPARCO, an Agence française de développement Group subsidiary. Private banks Societe Generale and BNP Paribas also participated in the funding round.
American Electric Power has agreed to sell 1,365 MW of its unregulated, contracted renewables portfolio to IRG Acquisition Holdings at an enterprise value of $1.5 billion, which includes the associated project debt. The portfolio being sold consists of 14 renewable energy projects spread across 11 states. Of the total capacity, 1.2 GW is from wind projects, while 165 MW is from solar projects. The electricity generated by these projects is contracted under long-term agreements with various utilities, corporations, and municipalities.
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Read last week’s project finance brief.