Primergy Solar, a developer, owner, and operator focused on distributed and utility-scale solar PV and battery storage projects, announced the closure of its $588 million commitments in debt financing for the 408 MW Ash Creek solar project in Hill County, Texas. The company has also signed a long-term power purchase agreement with Microsoft for the plant’s total capacity.
Longroad Energy, a U.S.-based renewable energy project developer, announced the financial close of 220 MW solar and 214 MW/855 MWh storage project in Pinal and Pima Counties, Arizona. The Serrano project is under construction and is expected to reach commercial operations by mid-2025. The output of the Serrano project will be purchased by Arizona Public Service via a long-term power purchase agreement.
Lightsource bp, a solar project developer, has secured $140 million tax equity commitments from Barclays to construct the Prairie Ronde 180MWdc solar project in St. Landry Parish, Louisiana. Once completed, the project holds significant benefits for the St. Landry Parish community. Lightsource bp has committed to dedicating $250,000 in funds to philanthropic activities and charity donations to local St. Landry Parish organizations.
ONDE, a renewable energy contractor involved in developing solar and wind projects, sold a 23.1 MW portfolio of three solar projects for PLN19 million (~$4.8 million) to German municipal utility SachsenEnergie. Out of three solar projects sold, two are under construction with a total capacity of 18.7 MW, and another is under development with a potential capacity of 4.4 MW.
India-based BluPine Energy has secured ₹12.6 billion (~$152.1 million) for its 198 MW wind project situated in Gujarat, which it had won under Gujarat Urja Vikas Nigam’s auction to purchase power from 500 MW of grid-connected wind power projects (Phase-III) in 2022. Standard Chartered Bank and TATA Capital will act as underwriters for the green loan financing, the company said.
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.
