CS Energy, an integrated energy firm that designs and builds optimized projects in the solar, storage, and emerging energy industries, has partnered with the Goldman Sachs Renewable Power Group and the New York State Energy Research and Development Authority to develop and construct 216 MW of new utility-scale solar projects across New York. The projects represent over $160 million of private investment and are expected to generate over $80 million in benefits for local communities and regions.
Tri Global Energy, a developer of utility-scale renewable energy projects, has entered into an agreement to sell two renewable energy projects – the 180 MW Hoosier Line Wind project and the 400 MW Honey Creek Solar project – to Leeward Renewable Energy, a renewable energy company that owns and operates a portfolio of approximately 2,000 MW of generating capacity. The wind and solar power projects, located in White County in northwestern Indiana, are targeted to be operational as early as 2023. Great Bay Renewables, a joint venture company between certain funds managed by affiliates of Apollo Global Management, and Altius Renewable Royalties, are providing royalty financing in support of Tri Global Energy completing and funding these projects’ development through the start of construction.
Clime Capital, the Singapore-based investment management company, announced that it has invested in the development phase of a floating solar and storage project in Dong Nai Province, Vietnam, under development by Blueleaf Energy. The development comprises a floating solar and storage peaking plant with a target capacity of 500 MW floating PV with a battery energy storage system (BESS) up to 200 MWh capacity.
Advanced Power, a global developer, owner, and asset manager of modern power infrastructure closed the financing for Cutlass solar project, a 140-MWdc photovoltaic solar electric generating facility located in Fort Bend County, Texas. Advanced Power, together with its co-investors, ENEOS Corporation and Fuyo General Lease Company, are the owners of the facility. CIT Bank, N.A., Credit Agricole Corporate & Investment Bank, and Amalgamated Bank are providing senior secured credit facilities to Cutlass Solar. CIT acted as coordinating lead arranger, administrative agent, collateral agent, and depositary bank for the transaction.
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.