Rezolv Energy, an Actis-backed independent renewable energy producer, has signed a financing package of up to €561 million ($637 million) for its 1.3 GW Dama Solar project in western Romania. The financing will support the project as it moves into construction. Commercial operations are expected in the second half of 2028. Once operational, Dama Solar is expected to generate about 1,800 GWh of electricity annually.
Sunrock, a developer of large-scale rooftop solar and integrated clean energy projects, has reached financial close with Crédit Agricole Corporate and Investment Bank (CA-CIB) on a €110 million (~$125 million) green financing facility for its rooftop solar portfolio in France. The financing comprises a €50 million (~$57 million) term loan facility and an accordion feature of up to €50 million (~$57 million). It will support commercial and industrial solar projects in France.
Onix IPP, a subsidiary of Bondada Engineering, has secured ₹9.11 billion (~$94.96 million) in financing from the State Bank of India for a 225 MW solar power project in Maharashtra. The approved funds include ₹9 billion (~$93.79 million) in term loan facilities and ₹112.5 million (~$1.17 million) in non-fund-based facilities. The project is supported by a 25-year power purchase agreement with the Maharashtra State Electricity Distribution Company.
Exus Renewables North America, a developer and operator of utility-scale renewable energy projects, has acquired four solar projects totaling 715 MW from ibV Energy Partners, a company specializing in developing and operating integrated solar + storage projects across the U.S. The portfolio includes projects in Wisconsin and Louisiana. The acquired portfolio includes Maple Grove Solar 1 and 2, a two-phase project totaling 310 MW in Barron County, Wisconsin; Bayou Teche Solar, a 125 MW project in St. Mary Parish, Louisiana; and Bayou Chicot Solar, a 280 MW project in Evangeline Parish, Louisiana.
Nordic solar developer and independent power producer Alight has acquired 40 large-scale solar projects in southern Sweden from Soltech Energy Solutions, a subsidiary of Soltech Energy Sweden. The portfolio has approximately 2 GW of planned solar capacity and includes options to add co-located battery storage at most sites. The portfolio spans electricity price areas SE3 and SE4 in southern Sweden.
KPI Green Energy is acquiring a 100% equity stake in Alfanar Energy and Netra Wind (NWPL), giving it access to 507.9 MW of operational wind projects owned by the two companies. The deal carries an enterprise value of ₹24.1 billion (~$251.12 million). The acquired portfolio is in the Kutch wind corridor at Bhuj, Gujarat. AEPL holds 301.4 MW of the portfolio and NWPL the remaining 206.5 MW. On completion, KPI Green’s installed power production capacity will rise from 1.16 GW to about 1.67 GW.
Blueleaf Energy, a renewable energy company owned by a Macquarie Asset Management fund, has acquired a 40 MW operational onshore wind project in Belgaum, Karnataka, India. Blueleaf Energy India Investments acquired a 100% equity stake in Sanchore Renewable from Belgium-based Virya Energy. Sanchore Renewable owns the wind project.
For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.
Read last week’s project finance brief.
