OYA Renewables Secures $216 Million Loan for Solar Projects

EDF Renewables, an independent power producer and services provider, acquired a 529 MW portfolio of development-stage solar projects in Germany from MEC Group, a solar and wind project developer. Solar projects with capacities ranging from 8 MW to 99 MW are spread across Lower Saxony, Saxony-Anhalt, Mecklenburg, Western Pomerania, and Brandenburg.

ABO Wind, a Wiesbaden-based project developer, reached an agreement with Repsol Renovables for the sale of five renewable energy projects totaling 250 MW. The projects comprise three wind farms totaling 150 MW and two solar projects with a capacity of 100 MW. They are located in the province of Palencia in Northern Spain and will share interconnection infrastructures with other Repsol projects. The financial terms of the transaction were not disclosed.

OYA Renewables, an independent power producer, secured a $216 million loan for constructing 15 community solar development projects throughout New York state. Of the $216 million in total financing, $145 has been secured as a construction-to-term loan. CIT Power and Energy led loan financing with participation from a syndicate of banks, including Amalgamated Bank, Siemens Financial Services, Comerica Bank, and Cadence Bank.

TotalEnergies, a multinational integrated oil and gas firm, acquired 200 MW of under development pipeline of solar projects and Biogas Producer, Polska Grupa Biogazowa, in Poland. The portfolio comprises six under-development solar projects in Northern and Western Poland.

Aypa Power, a company that develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects, acquired two standalone battery energy storage projects in Indiana from Blue Steel Power. Blue Steel is a joint venture between Open Road Renewables and Eolian.

Godawari Green Energy, a wholly-owned subsidiary of investment firm Kohlberg Kravis Roberts-backed Virescent Renewable Energy Trust, has acquired a 25 MW operational solar project from Samta Energy in the Surendranagar district of Gujarat. The estimated acquisition cost is ₹1.4 billion (~$17 million). The project’s total revenue stood at ₹555 million (~$7 million) in 2022.

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.