Standard Solar Acquires 9.9 MW Solar Project in Texas

Lynher Energy, a joint venture between Napier Park Global Capital, an alternative asset manager, and Ethical Power, an integrated renewable energy solutions provider, secured a bank facility of £52.7 million (~$66.85 million), comprising development and term loans. The first use of the facility is to help finance the construction of the 26.1 MW Twitch Hill Solar project, which Lynher Energy acquired in March 2023.

Greenbacker Renewable Energy Company, an investment manager and independent power producer, through its wholly-owned subsidiary, has acquired three solar power projects totaling 12 MWdc in Colorado from One Energy, a solar and energy storage project developer. The acquisition comprises the Rocky Ford (2.6 MWdc), Totten (2.8 MWdc), and Montezuma (6.5 MWdc) solar power projects, all slated to enter commercial operation in mid-2023.

BESS Power, a utility-scale energy storage project developer, secured a project debt financing facility of up to $15 million from Leyline Renewable Capital to accelerate the development of its 2.4 GW of utility-scale standalone energy storage pipeline over the next four years.

Ameresco, an energy efficiency and renewable energy company, announced the closing of a $300 million senior secured loan facility from HASI, an investment firm, to develop and construct clean energy assets. Ameresco has also entered into an amendment to the company’s current senior secured credit facility with a group of lenders led by Bank of America. This amendment adjusts the payment schedule for the Delayed Draw Term Loan A, with final maturity extended to mid-December 2023.

Fourth Partner Energy has entered into an agreement with the Asian Development Bank to secure a long-term loan of up to ₹1.2 billion (~$14.7 million) for constructing and operating a 25 MW solar open access project in the Tirunelveli district of Tamil Nadu. The project will supply clean and cost-effective solar energy to Fourth Partner Energy’s various commercial and industrial clients and is projected to yield approximately 50.7 GWh of electricity annually.

Click here for reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors.

Read last week’s project finance brief.