Scale Microgrids, a vertically integrated distributed energy platform, entered into a definitive agreement with Gutami to acquire 500 MW of distributed solar and storage projects. All the projects are located across multiple states, including California and New York. The acquisition is built on the company’s existing 100 MW partnership in New York. Scale and Gutami have executed an expansion agreement under which Gutami will develop 500 MW of energy transition infrastructure assets, which Scale will acquire, finance, and own.
Infiniti Energy, a solar project developer and independent power producer, announced the closure of an $83 million structured finance facility with Fifth Third Bank, who acted as the administrative agent, to support a portfolio totaling 21 MW commercial solar projects. The construction facility is being financed through Fiera Private Debt, and Flagstar Bank is providing the tax equity.
FP Lux, an investment firm, through its FP Lux Energy Transition Fund, announced the acquisition of 114 MW of solar projects in Italy from PNE, a German-based renewable energy project developer. The deal covers twelve photovoltaic projects across Italy that can supply a medium-sized city with 75,000 households with green electricity, saving up to 104,400 tons of CO2 per year.
SSE Renewables, a developer and operator of renewable energy projects, announced the acquisition of a 400 MW solar project portfolio in Poland from IBC Solar, a solar project developer. The solar projects acquired are currently in the early stage of development. This follows the company’s earlier acquisition of 500 MW solar projects in Poland from Optisol. The two solar portfolios bring the company’s prospective pipeline of solar PV projects in Poland to 900 MW.
Globeleq, an independent solar power producer, announced the completion of a $37 million senior debt restructuring for 11 MW of Aries and 11 MW of Konkoonsies solar projects in the Northern Cape of South Africa. By lowering the cost of debt for the projects, the restructuring led by Standard Bank Limited allows for a significant reduction in wholesale electricity prices from the projects.
Click here for reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors.
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