Renewable energy developer and independent power producer Enlight Renewable Energy’s U.S. subsidiary, Clēnera Holdings, has entered into a debt financing framework agreement for the CO Bar Complex, which comprises five projects with about 1.2 GW of solar power generation capacity and 4 GWh of energy storage capacity in Arizona. The financing commitments total about $2.6 billion and were provided by a consortium of seven global financial institutions.
Matrix Renewables, a renewable energy developer and independent power producer focused on solar and battery energy storage systems, has closed construction-to-term loan financing, tax equity commitments, and refinancing for an 859 MW solar and 167 MWh battery energy storage portfolio in the U.S. The portfolio includes projects in California, Idaho, and Texas. It comprises two operating assets that have been refinanced, as well as two projects currently under construction.
Spearmint Energy, a U.S.-based energy storage company, has secured a $325 million expanded debt facility from Nuveen Energy Infrastructure Credit, Elda River Capital Management, Harrison Street Asset Management, and Aiga Capital Partners. The company said the debt facility will strengthen its capital base and support strategic initiatives tied to its battery storage portfolio. Spearmint expects to use the capital to advance its operating portfolio, which includes the Tierra Seca, Seven Flags, and Revolution projects.
Sweden-based renewable energy company OX2 has secured PLN 550 million (~$146 million) in financing for a 50 MW battery energy storage project in Osiek Jasielski, Podkarpackie Voivodeship, and a 165 MW Lion solar project in Lubuskie Voivodeship, Poland. Global law firm Norton Rose Fulbright advised OX2 on the transaction.
India-based rooftop solar engineering, procurement, and construction services provider Roofsol Energy has secured ₹2.6 billion (~$27.55 million) in funding from Aseem Infrastructure Finance to support the development of solar projects in India. Roofsol said it will use the funding to support multiple projects, including solar installations for JK Tyre & Industries and 100 MW of additional commercial and industrial (C&I) solar projects across India.
A.P. Moller Capital, a global institutional fund manager, has signed an agreement to acquire 100% of Mainstream Renewable Power South Africa from Mainstream Renewable Power, through a special-purpose vehicle under its Emerging Markets Infrastructure Fund II. White & Case advised A.P. Moller Capital on the acquisition.
For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.
Read last week’s project finance brief.
