OYA Renewables Secures $216 Million Loan for Solar Projects

Solar project developer X-ELIO closed a €102 million (~$112 million) financing deal for Los Llanos I, II, and III solar projects, totaling 147 MW in Spain. BBVA and Santander CIB jointly provided €82 million (~$90 million) of debt, €6 million (~$7 million) in RSD Credit, and €20 million (~$22 million) in Guarantees.

OCI Solar Power, a utility-scale solar projects developer, signed an agreement to sell 110 MW of a construction-ready solar photovoltaic project named Three W Solar to Mitsui in Texas. Three W Solar sits on 875 acres near Hillsboro, south of Dallas. Construction of the project is slated for 2024, with operations beginning in 2025.

Renewable Connections, a solar and battery storage project developer, and its partner European Energy UK announced the sale of two “shovel-ready” solar and battery storage projects totaling 121 MW in Scotland. EVC Kilt, a part of EVC Energy, a solar and battery storage project developer, acquired the projects. EVC Energy is a joint venture between Elmya Energy and Valpre Capital launched in 2021.

Enerfin, a wind and solar projects developer, secured a loan of $57 million for the construction of a 129 MW of photovoltaic plant in Colombia. In securing this operation, Enerfín has been assisted by Helm Banca de Inversión to structure the financing provided by two Colombian banks belonging to Grupo Aval, namely Banco de Bogotá and Banco de Occidente, themselves assisted by the Banca de Inversión de Corficolombiana.

IFC (International Finance Corporation), a member of the World Bank Group, has provided a €41 million (~$45 million) financing package to Karavasta Solar, a subsidiary of Voltalia, for the development of a 140 MW solar project and a 19-kilometer overhead transmission line in Fier municipality of western Albania.

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.