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					</table><p><a href="https://www.ilos-energy.com/" target="_blank" rel="noopener">ILOS Projects</a>, a pan-European independent power producer backed by BNP Paribas Asset Management, has upsized its structured credit facility to €450 million (~$529 million) with EIG, an institutional investor in the global energy and infrastructure sectors, and La Caisse, a global investment group. The upsizing follows the initial €250 million (~$294 million) tranche provided by EIG.</p>
<p>The expanded facility will support the development and operation of over 2 GW of solar and battery energy storage capacity across Europe by 2028.</p>
<p>The proceeds from the facility will be used to fund construction equity and the acquisition of ready-to-build projects, enabling the company to accelerate its growth as a pan-European independent power producer.</p>
<p>ILOS plans to continue to focus on core markets, including Ireland, the U.K., Italy, and Germany.</p>
<p>“ILOS has delivered significant growth since inception, and this facility increase is a testament to the strength of our platform and strategy,” said Sascha Klos, Chief Commercial Officer at ILOS. “We are proud to extend our relationship with EIG while welcoming La Caisse as a new partner as we continue to scale our portfolio and strengthen our position as a leading European IPP.”</p>
<p>A&amp;O Shearman acted as legal advisor, and Akereos Capital served as structurer and exclusive debt advisor to ILOS, while Milbank acted as legal advisor to EIG and La Caisse on the transaction.</p>
<p>Large-scale project funding increased by 73% in 2025 compared with the funding raised in 2024, according to Mercom’s Annual and Q4 2025 Energy Storage Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>. Deal activity also rose sharply, up 71% YoY.</p>
<p>In April 2026, Elgin, an integrated, utility-scale solar and storage independent power producer, <a href="https://mercomcapital.com/elgin-secures-672-million-for-1-gw-solar-and-storage-pipeline-in-the-uk/" target="_blank" rel="noopener">secured</a> up to £500 million (~$672 million) of funding from a banking syndicate to accelerate the build-out of its UK pipeline over the coming years. The projects funded through this financing are expected to be operational before 2030.</p>


Independent Power Producer ILOS Upsizes Credit Facility to $529 Million


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					</table><p>U.S.-based independent power producer <a href="https://www.lydianenergy.com/" target="_blank" rel="noopener">Lydian Energy</a> has acquired the 1.5 GW Atlas North portfolio, comprising solar plus battery energy storage systems (BESS), in North America from <a href="https://hanwharenewables.com/" target="_blank" rel="noopener">Hanwha Renewables</a>, a utility-scale solar and BESS projects developer. The financial terms of the acquisition were not disclosed.</p>
<p>The Atlas North portfolio includes more than 1,000 MW of solar generation capacity with 450 MW/1,800 MWh of BESS across four late-stage projects. The projects are supported by grid infrastructure, including a 500 kV generation-tie transmission line connecting the facilities to the California Independent System Operator (CAISO) grid via the Cielo Azul Switchyard and the Ten West Link transmission line.</p>
<p>Most of the electricity and capacity from the portfolio is secured under long-term power purchase agreements with California-based load-serving entities.</p>
<p>“Atlas North represents Lydian’s largest investment to date. We are excited to build on our momentum as a firm and bring this ambitious project to life,” said Emre Ersenkal, CEO at Lydian Energy. “The Atlas North facilities will bring much-needed renewable power to the region.”</p>
<p>Lydian is backed by Excelsior Energy Capital, a clean energy infrastructure fund focused on middle-market investments in wind, solar, and battery storage projects, and businesses across North America.  The company’s portfolio includes 18 solar and energy storage projects totaling 4.4 GW of capacity.</p>
<p>In February 2026, the company <a href="https://mercomcapital.com/lydian-energy-secures-689-million-for-solar-and-battery-storage-projects/" target="_blank" rel="noopener">closed</a> a $689 million financing for two solar and one battery storage projects located across three states in the U.S. The full-stack financing comprised a construction-to-term loan, a tax credit bridge loan, a co-investment bridge loan, and a letter of credit facility.</p>
<p>According to Mercom’s Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, approximately 37.4 GW of solar projects were acquired in 2025, compared to 37.7 GW in 2024.</p>
<p>In 2026, Nofar USA, the U.S. subsidiary of Israeli renewable energy independent power producer Nofar Energy, <a href="https://mercomcapital.com/nofar-usa-closes-acquisition-of-1-gw-of-solar-projects/" target="_blank" rel="noopener">closed</a> its previously approved acquisition of approximately 1 GW of solar energy projects from Pine Gate Renewables, a utility-scale solar project developer.</p>


Lydian Energy Acquires 1.5 GW Solar and Storage Portfolio


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					</table><p><a href="https://www.sigenergy.com/" target="_blank" rel="noopener">Sigenergy Technology</a>, a provider of home battery storage and commercial solar solutions, has raised over HK$4.4 billion (~$562 million) through its initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX).</p>
<p>The Shanghai-headquartered company, which is listed under the stock code 06656.HK, began trading on April 16 at an offer price of HK$324.20 (~$41.3) per share. If the overallotment option is fully exercised, total proceeds from the offering could reach HK$5.06 billion (~$646 million).</p>
<p>Sigenergy received backing from Temasek, Goldman Sachs Asset Management, UBS Asset Management, and BNP Paribas Asset Management. Other participants included Hillhouse, CPE, Boyu Capital, Gaoyi Asset Management, and Greenwoods Asset Management, as well as insurance and specialized funds such as CPIC, ORIX, and Walden International.</p>
<p>Xu Yingtong, Founder and CEO of Sigenergy, stated, “Listing marks a new beginning for us. Guided by our ‘AI in All’ mission, we are doubling down on energy storage and accelerating R&amp;D to fortify our competitive edge. Our goal is to ensure that AI translates into tangible value for our customers. As we advance our global expansion and refine our international network, we are proud to share the story of ‘China’s Intelligent Manufacturing’ in the renewable energy sector.”</p>
<p>According to its prospectus, Sigenergy reported revenue growth from RMB58.30 million (~$8 million) in 2023 to RMB9 billion (~$1 billion) in 2025, an increase of 154.4 times over two years.</p>
<p>Sigenergy’s flagship product, SigenStor, combines an inverter, EV DC charging module, and battery pack into a modular, stackable unit. By the end of 2025, the company had achieved an annual design capacity of nearly 360,000 inverters and over 5.6 GWh of energy storage batteries.</p>
<p>According to Mercom’s Annual and Q4 2025 Funding and M&amp;A for Energy Storage <a href="https://mercomcapital.com/product/annual-q4-2025-funding-ma-report-storage/" target="_blank" rel="noopener">report</a>, announced debt and public market financing for Energy Storage companies in 2025 decreased 30% year-over-year (YoY), with $11.4 billion in 44 deals compared to $16.2 billion in 32 deals in 2024. Despite raising less capital, deal activity increased 38% YoY.</p>
<p>In December 2025, Guoxia Technology, a China-based company that provides AI-driven energy storage products and renewable energy solutions, <a href="https://mercomcapital.com/energy-storage-company-guoxia-technology-announces-hong-kong-ipo-listing/" target="_blank" rel="noopener">announced</a> its listing on the main board of the Hong Kong Stock Exchange (HKEX) under the stock code 02655.HK, raising approximately $78 million.</p>


Sigenergy Technology Raises $562 Million in Hong Kong IPO


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					</table><p><a href="https://www.contourglobal.com/" target="_blank" rel="noopener">ContourGlobal</a>, an international independent power producer backed by KKR, has secured €43.8 million (~$52 million) in refinancing from Eurobank for a 36.7 MW operational solar portfolio in Greece.</p>
<p>The refinancing covers the majority of the acquisition cost of a portfolio comprising 26 operational solar photovoltaic projects, held across seven special purpose vehicles (SPVs).</p>
<p>The projects, with a combined installed capacity of 36.7 MW, were commissioned between 2011 and 2022.</p>
<p>ContourGlobal announced the acquisition of the solar project portfolio from Quest Energy, a subsidiary of the listed Greek group Quest Holdings, in January this year. The acquisition marked the company’s entry into the Greek market and supports its strategy to expand its renewable energy footprint in the country.</p>
<p>The projects benefit from regulated offtake arrangements under Greece’s Feed-in-Tariff (FiT) and Feed-in-Premium (FiP) mechanisms. The portfolio is geographically diversified across Greece, with assets located from the Peloponnese to Eastern Macedonia and Thrace.</p>
<p>The transaction restructures the portfolio’s financing by consolidating a previously fragmented structure of 14 project- and SPV-level facilities involving multiple lenders into seven SPV-level financing arrangements. This structure is expected to improve financial efficiency, enhance transparency, and support long-term operational stability.</p>
<p>Advisors to the transaction included Koutalidis Law Firm and Hogan Lovells for ContourGlobal, while Alexiou–Kosmopoulos Law Firm advised Eurobank.</p>
<p>Parallely, ContourGlobal acquired full ownership of six battery storage projects through two different transactions with developers Fotowatio Renewable Ventures, from Spain, and Zephiros, a Greek developer, totaling 500 MW/2,000 MWh of battery storage capacity across different regions.</p>
<p>Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.</p>
<p>In October 2025, the company had <a href="https://mercomcapital.com/contourglobal-closes-over-350m-financing-for-324-mwp-solar-project/" target="_blank" rel="noopener">secured</a> more than $350 million in tax equity and debt financing for its U.S. projects.</p>


ContourGlobal Secures $52 Million Refinancing for Solar Portfolio in Greece


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					</table><p><a href="https://www.atlasrenewableenergy.com/" target="_blank" rel="noopener">Atlas Renewable Energy</a>, a solar and wind project developer, has secured COP453.95 billion (~$121 million) in financing for the 99.9 MW El Campano solar project in Córdoba, Colombia, achieving financial close and enabling construction.</p>
<p>The financing package is structured under a project finance framework, combining private equity with long-term project finance debt. It includes a loan of COP292.1 billion (~$78 million) and a commercial credit of COP58.38 billion (~$16 million).</p>
<p>Financiera de Desarrollo Nacional and BBVA Corporate &amp; Investment Banking acted as lenders and issuers of letters of credit for the transaction, with BBVA also providing hedging solutions.</p>
<p>The El Campano project was awarded under Colombia’s 2024 Reliability Charge Auction and is being developed in partnership between Atlas Renewable Energy and ISAGEN. The project is supported by a long-term power purchase agreement. It is expected to begin commercial operations in the third quarter of 2027.</p>
<p>“The financial closing of El Campano Solar reflects our continued focus on executing strategic power generation projects in Colombia and delivering reliable, high-quality energy solutions for our customers,” said Rubén Borja, Country Manager for Atlas Renewable Energy in Colombia. “The continued support of leading financial institutions allows us to move forward with confidence as we advance into construction and contribute to the development of Colombia’s energy sector.”</p>
<p>Currently, the project employs 228 people, of whom over 130 are local workers.</p>
<p>In February 2026, Atlas <a href="https://mercomcapital.com/atlas-renewable-3-billion-refinancing-latin-american-portfolio/" target="_blank" rel="noopener">closed</a> approximately $3 billion in corporate refinancing, its largest to date for clean energy in Latin America.</p>
<p>Additionally, Atlas <a href="https://mercomcapital.com/atlas-renewable-energy-secures-financing-estepa-project/" target="_blank" rel="noopener">secured</a> $510 million in financing for the construction and development of the Estepa Project, a hybrid project consisting of a 215 MW solar project and two battery storage projects with a 418 MW capacity in Chile.</p>
<p>Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/">report</a>.</p>


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