Tages Capital SGR, an independent energy infrastructure investor, and solar project operator through the Tages Helios II fund, acquired an 82 MW solar project in Sardinia, Italy. Located in the province of Cagliari, the solar project is equipped with single-axis trackers. According to Tages Capital, it is one of the largest projects operating in Italy to date. The latest acquisition adds to a portfolio of 12 solar projects with a combined capacity of 103 MW that the Italian firm and its funds own in Sardinia.
Clearway Energy Group, a developer and operator of clean energy projects in the U.S., announced the closing of financing for two utility-scale solar and storage projects in Riverside County, California. The Victory Pass and Arica solar projects will generate 463 MW of combined clean energy capacity and 186 MW of battery storage which can supply power to roughly 132,000 homes annually.
UAE government-owned renewable energy company Masdar has reached financial close on three solar photovoltaic projects in Uzbekistan. The projects will be a part of the largest solar development program in the area, with a total capacity of approximately 900 MW, and will start construction shortly. The Asian Development Bank, Asian Infrastructure Investment Bank, the European Bank for Reconstruction and Development, and the European Investment Bank are funding the projects. Various international financial institutions are collectively providing $396.4 million to finance Uzbekistan’s solar program, with the EIB approving a loan of $83.6 million.
Renewable energy solutions provider Vibrant Energy has secured project financing of more than ₹22 billion (~$268.7 million) from Power Finance Corporation to develop 300 MW of wind-solar hybrid power projects in Madhya Pradesh and Karnataka. Vibrant Energy is a portfolio company of Macquarie Asset Management’s Green Investment Group. It operates and delivers more than 2 GW of renewable energy solutions for corporate clients.
CleanMax Solar, a rooftop solar developer, has refinanced its rooftop solar portfolio in the United Arab Emirates (UAE), with a long-term credit facility from the National Bank of Fujairah. The facility will cover 48 different operational rooftop solar assets, located on industrial facilities, malls, schools and universities.
For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.
Read last week’s project finance brief.