Here are the project finance highlights from the global renewable energy industry over the past week:

ACF Renewable Energy Limited, a subsidiary of ACWA Power, completed a sale of its 100% stake in ACWA Power CF Karad PV Park EAD (ACWA Power Karad), owner of a 60.4 MWp Karadzhalovo solar PV project in Bulgaria, to Enery Development, an Austrian investor and project developer in the renewable energy sector for an undisclosed amount. ACWA Power’s subsidiary NOMAC has also completed the sale of its 100% stake in NOMAC Bulgaria, a company providing O&M services to the ACWA Power Karad plant, to Enery Development for an undisclosed consideration. Both transactions follow the signing of a binding agreement back in December 2019 and constitute the largest brownfield PV deal in Bulgaria to date.

The Asian Development Bank (ADB) and the ENGIE group signed a long-term loan of up to ₹4.66 billion (~$65.5 million) to construct and operate a 200 MW Raghanesda Solar Park in India’s western state of Gujarat. Electro Solaire Private Limited (ESPL), a special purpose vehicle owned by the group, will implement the project. ADB, along with another international lender, will provide the entire debt required to construct the project.

Statkraft Ireland, a developer, and owner of renewable energy projects have completed the acquisition of five fully permitted solar projects with a combined capacity of 275 MW (DC) from Lightsource bp. The projects are located in Ireland counties Meath, Laois, Tipperary, and Cork. The acquisition is the latest in a series of transactions that Statkraft Ireland has made in the renewable energy sector since 2018. 

Foresight Solar has announced the acquisition of a 26.1 MW Virgen del Carmen subsidy-free solar project based in Huelva, Spain, for €20.2 million (~$23.8 million). Once construction is completed project will sell energy generated through a long-term Power Purchase Agreement (PPA) with Shell Energy Europe, a subsidiary of Royal Dutch Shell, for the sale of electricity under a fixed price until 2030. The project is fully consented, with construction expected to start at the end of September 2020, with operations targeted to start in the third quarter of 2021.

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 funding roundup.

Image credit: Duke University