MYTILINEOS, a global industrial and energy company, reached financial close with lenders ANZ and Westpac on the non-recourse portfolio financing structured as a combination of term facility, construction facility, and ancillary facilities totaling A$234 million (~$159 million) for the portfolio comprising 110 MW Moura Solar Farm in Banana Shire, Queensland, the 75 MW Wyalong Solar Farm in Bland Shire, New South Wales, and the 53 MW Kingaroy Solar Farm.
Opdenergy, an independent renewable energy producer, signed the financing for the 24 MW La Francesca solar project in Benevento, Italy for a total of €16.5 million (~$17.6 million). The project, which is under construction, will sell 100% of its energy on a merchant basis once it completes its construction and begins its operation.
Alternus Energy Group, an independent power producer, completed a €500 million (~$531 million) financing agreement with Deutsche Bank for funding its solar project acquisitions in Europe. The funding has an approved initial draw of €80 million (~$85 million). Other than funding the acquisitions, the financing would also support the closure of currently contracted acquisitions and help finance the construction of up to 600 MW of the development pipeline on a revolving basis.
Altus Power, an independent developer, owner, and operator of commercial-scale solar projects entered a definitive agreement to acquire about 220 MW of solar assets for ~$293 million from the funds managed by True Green Capital Management. The transaction to acquire the solar assets under construction is expected to close during the first quarter of 2023.
PPC, a vertically integrated electric utility, announced that its subsidiary PPC Renewables signed an agreement with MYTILINEOS, for the development, construction, and sale of a solar power portfolio of about 210 MW in Romania. The portfolio consists of two PV parks expected to be in commercial operation during 2024. The projects are in the South Region of Romania, close to Bucharest.
Plenitude, through its U.S. subsidiary Eni New Energy US, acquired the 81 MW Kellam photovoltaic solar project in Texas from Hanwha Qcells USA, the U.S. subsidiary of the Korean Hanwha Group. The solar project is located on 150 hectares of land in North Texas, 80 km from the Dallas-Fort Worth metroplex, and will sell the generated energy to a local power company.
The Renewables Infrastructure Group an investment company, acquired a 100% equity interest in Project Spennymoor, a 100 MW/200 MWh under development battery storage project in the UK, from a renewable energy project developer and operator, RES. The project is currently in the late-stage development and is in Country Durham in the Northeast of England near a high-voltage substation connection.
Renewable energy company Boralex has completed the acquisition of EDF Renewables’ interest in five operating wind farms located in Texas and New Mexico, amounting to 894 MW. EDF Renewables’ interest in the wind farms comes to 447 MW of installed capacity. With the latest acquisition, Boralex’s total installed capacity worldwide will increase to 2,956 MW.
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