energyRe, a solar, wind, and energy storage project developer, has secured $815 million in financing for five utility-scale solar projects totaling approximately 360 MW in South Carolina. U.S. Bank of America, Canadian Imperial Bank of Commerce, and Santander supported the financing. Bank of America served as the documentation agent, while Santander acted as energyRe’s financial advisor. The five projects are backed by 25-year power purchase agreements.
Decarbonization solutions company ReNew has secured a $100 million financing facility from the Netherlands-based entrepreneurial development bank FMO to support its renewable energy projects under construction. The 10-year loan was extended to the company’s subsidiary, ReNew Solar Power, under the voluntary retention route. The company said the financing will diversify its funding sources across domestic and international markets and provide long-term capital to support the development of its renewable energy portfolio.
Ares Infrastructure Equity funds, affiliates of Ares Management Corporation, a global alternative investment manager, have acquired a significant minority stake in Statera Energy’s operational energy storage and flexible generation portfolio of approximately 1.9 GW in the U.K. The portfolio includes the 680 MW Carrington Storage project in Greater Manchester and the 750 MW Thurrock Flexible Generation project in Essex.
Ampyr Solar Europe (ASE), a solar and battery storage developer, has sold a 49% stake in its 157 MW Elsterheide solar and battery storage project in Saxony, Germany, to Daiwa Energy & Infrastructure (DEI), a Japanese investment company and wholly owned subsidiary of Daiwa Securities Group. ASE will retain the remaining 51% stake and continue to operate and manage the project.
Vena Energy, an independent solar power producer, has signed agreements with Norfund, the Norwegian Investment Fund for Developing Countries, and Impact Fund Denmark to sell a combined 49% equity stake in its 500 MW Ixus Bugallon solar project in Bugallon, Pangasinan, Philippines. The transaction is subject to approval from the Philippine Competition Commission and other customary closing conditions. The companies have not disclosed the financial consideration for the stake.
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