Potentia Energy, a renewable energy developer co-owned by Enel Green Power and INPEX, completed the acquisition of controlling stakes in a renewable energy portfolio exceeding 1 GW across Australia. The assets were acquired from infrastructure investor CVC DIF and superannuation fund Cbus Super. The acquisition also includes shares in Bright Energy Investments, a joint venture with Synergy, owned by the Western Australian state government.
AIP Management, a Nordic-based investment manager in diversified decarbonization infrastructure, agreed to acquire a 49.99% equity stake in the 300 MW solar with a co-located 200 MW/400 MWh battery energy storage Pine Forest project from Clearway Energy Group, a utility-scale renewable energy and storage project developer. The project is in the ERCOT North market region in Texas. The total investment is approximately $200 million. The project is currently under construction and is expected to commence operations in the fourth quarter of 2025.
Greenalia, a renewable energy project developer, has secured a $295 million construction-to-term loan and $93 million letter of credit facility from Mitsubishi UFJ Financial Group and Nomura Securities International for developing the 430 MWdc/331.6 MWac Misae II solar project in Texas. The project has completed 72% of its construction, with commercial operations expected to begin in the third quarter of 2025.
Electricity and heat producer and supplier PGE Energia Ciepła, a PGE Group unit, secured PLN 48.7 million (~$12.61 million) in the form of a preferential loan from the National Fund for Environmental Protection and Water Management for the construction of seven solar projects with a cumulative capacity of 10.54 MW. The projects are to be built at the company’s six combined heat and power projects in Rzeszów, Kielce, Lublin, Zgierz, Bydgoszcz, and Gorzów Wielkopolski in Poland.
India-based ACME Solar Holdings secured a ₹24.91 billion (~$298.92 million) long-term refinancing facility for 18 to 20 years from the State Bank of India and REC at a reduced weighted average interest rate of 8.8%. ACME Solar will use the funds to reduce debt costs for its 490 MW renewable energy projects in Andhra Pradesh, Rajasthan, and Punjab.
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.
