Project Finance Brief Grenergy Raises $148 Million to Fund Solar Projects in Chile

Grenergy, a solar, wind, and storage independent power producer, secured $148 million in green financing for the Gran Teno and Tamango solar power projects located in Chile, with a combined capacity of 300 MW. The transaction, signed with French banks BNP Paribas and Societe Générale, is a green loan. It also includes other complementary credit lines. The transaction is structured as a Green Use of Proceeds loan with the funds used to finance renewable energy projects.

France-based oil and gas major company TotalEnergies has acquired 208 MW of solar photovoltaic projects in Romania from PNE, a solar and wind power project developer. PNE will remain responsible for further project development until the ready-to-build stage is achieved. The transaction details were not disclosed.

Goldbeck Solar, a solar project developer, secured €44 million (~$47.90 million) financing from Rgreen Invest, an investment firm for constructing four ground-mounted solar power projects in Canada and Chile, totaling 93 MW. The Canadian projects in Alberta have a capacity of 61 MW and 8 MW, respectively, and are part of the joint venture between Goldbeck Solar and Pathfinder Clean Energy. The projects in Chile in the province of Bío-Bío each have a capacity of 12 MW.  Capcora acted as the exclusive financial advisor for this transaction.

CEE Group, a Germany-based asset manager, acquired a 103.5 MW ground-mounted solar power project in the province of Groningen, the Netherlands, from Ecorus Group, a solar project developer. The project is under construction. Ecorus is also the EPC partner for the construction of the solar project. The signing and closing of the purchase agreement with the project developer Ecorus took place in February 2023. Both parties have agreed not to disclose the purchase price.

Ib vogt, a solar and storage project developer, agreed to sell a 98.4 MW solar photovoltaic power project portfolio in Italy to Rubis Photosol, a solar project developer. The portfolio comprises ten photovoltaic and agrivoltaic projects in the Lazio region of Italy and has been 100% funded by ib vogt. The portfolio has been developed by ib vogt and its two joint venture partners, Christoph Drewes Energieberatung and Hans Karl Pichler. The projects are under development and will be purchased one by one over the next 12 to 18 months as each project reaches ready-to-build status.

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.