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TERI Announces Winner of 115 MWh Battery Storage Auction

Power Ministry Revises RoW Compensation Rules for Transmission Lines


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					</table><p><strong>From: <a href="https://mercomcapital.com/project-finance-brief-jupiter-power-secures-1-4-billion/" target="_blank" rel="noopener"><span style="text-decoration: underline;">Mercom Capital Group</span></a></strong></p>
<p><strong>Jupiter Power, a utility-scale energy storage project developer and operator, has <a href="https://mercomcapital.com/jupiter-power-secures-1-4billion-1-5gw-storage-projects/" target="_blank" rel="noopener">closed</a> $1.4 billion in financing across four transactions</strong> to support ten storage projects in Texas and Michigan. The utility-scale battery projects have a combined capacity of 1,500 MW/3,600 MWh. The transactions, which closed from April to July 2026, include senior secured project debt, tax equity bridge loans, and a U.S. private placement.</p>
<p><strong>38 Degrees North, a community solar and distributed renewable energy developer and operator, has <a href="https://mercomcapital.com/38-degrees-north-secures-260-million-community-solar-projects/" target="_blank" rel="noopener">closed</a> a $260 million financing facility</strong> with infrastructure finance platform Apterra Infrastructure Capital to support the construction of approximately 85 MW of community solar projects across New York and Illinois. Apterra, an affiliate of Apollo, served as joint lead arranger, administrative agent, and sole bookrunner.</p>
<p><strong>Generate Capital, an investor, owner, and operator of critical infrastructure, has <a href="https://mercomcapital.com/generate-capital-secures-117-million-debt-for-18-community-solar-projects/" target="_blank" rel="noopener">closed</a> a $117 million term debt facility with MUFG to finance 18 community solar projects</strong> totaling 114 MW across Illinois and New York. The financing supports Generate’s Community Solar Fund 11 and marks the company’s first community solar financing with MUFG. According to Generate, the transaction also expands its community solar infrastructure.</p>
<p><strong>Solar project developer Verdant Energy has <a href="https://mercomcapital.com/verdant-energy-secures-25-million-financing-solar-projects-thailand/" target="_blank" rel="noopener">secured</a> up to $25 million in non-recourse project financing from responsAbility Investments to support its</strong> portfolio of commercial and industrial solar projects in Thailand. The financing will support the development, construction, and operation of the projects, providing long-term capital for Verdant’s solar projects in Thailand.</p>
<p><strong>Patria Investments, an alternative asset manager in Latin America, has <a href="https://mercomcapital.com/patria-sells-360mw-puerta-de-oro-solar-project-colombia/" target="_blank" rel="noopener">sold</a> its entire stake in the 360 MW Puerta de Oro solar project in Colombia to ISAGEN</strong>, a Colombia-based renewable power generation company. Located in the municipalities of Guaduas and Chaguaní in Colombia’s Cundinamarca department, Puerta de Oro has an installed solar capacity of 360 MW. The project comprises more than 511,000 solar modules across approximately 530 hectares.</p>
<p><strong>Kelag International, part of Austrian energy provider Kelag Group, which develops, operates, and manages renewable energy projects, has <a href="https://mercomcapital.com/kelag-international-acquires-64-4-mw-solar-portfolio-in-italy/" target="_blank" rel="noopener">acquired</a> eight photovoltaic projects in Italy with</strong> a total planned capacity of approximately 64.4 MW and expected annual electricity generation of around 107 GWh. The projects are primarily located in the Lombardy and Emilia-Romagna regions. Seven have reached the ready-to-build stage, while the remaining project is at an advanced stage of development.</p>
<p><strong>Zenith Energy, an energy company focused on production and project development, has <a href="https://mercomcapital.com/zenith-acquires-solar-project-in-italy-expands-pipeline-to-212-mw/" target="_blank" rel="noopener">acquired</a> Stradella 1, a ground-mounted solar photovoltaic development project with</strong> an indicative installed capacity of approximately 9 MW in the Province of Pavia, Lombardy, Italy. Zenith classified Stradella 1 as a development-stage project. With an installed capacity below 10 MW, the company expects the project to qualify for the PAS simplified authorization procedure.</p>
<p><strong>ACME Cleantech Ventures</strong>, <strong>a UK-based subsidiary of the ACME Group, has <a href="https://www.mercomindia.com/acme-secures-600-million-from-brookfield-for-green-molecule-projects" target="_blank" rel="noopener">secured</a> up to $600 million from Brookfield Asset Management to support</strong> the development and construction of the company’s green molecule project pipeline in India and West Asia. The transaction marks Brookfield’s entry into the regions’ green molecule sector. The investment will combine Brookfield’s institutional capital with ACME’s project development and operating capabilities.</p>
<p>&nbsp;</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s project finance <a href="https://www.mercomindia.com/project-finance-brief-sonnedix-secures-1-3-billion-refinancing" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Jupiter Power Secures $1.4 Billion


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					</table><p><a href="https://www.38degreesn.com/" target="_blank" rel="noopener">38 Degrees North</a>, a community solar and distributed renewable energy developer and operator, has closed a $260 million financing facility with infrastructure finance platform Apterra Infrastructure Capital to support the construction of approximately 85 MW of community solar projects across New York and Illinois.</p>
<p>Apterra, an affiliate of Apollo, served as joint lead arranger, administrative agent, and sole bookrunner. Stifel and National Bank of Canada also served as joint lead arrangers, while BankUnited acted as collateral agent. Farmer Mac, Amalgamated Bank, and Siemens Financial Services participated as additional lenders. According to 38 Degrees North, the facility was oversubscribed.</p>
<p>“New York and Illinois continue to be among the most active community solar programs in the country, with both states designed to bring new generation online while passing savings directly to subscribers. As project queues lengthen, developers with permitted, ready-to-build pipelines and the capital to finance them are best positioned to convert that backlog into operating assets,” said Ryan Bennett, Partner at 38DN. “Combined with the HoldCo facility we announced with EIG last month, we have secured strong financial backing from highly sophisticated institutional capital partners. We are exceptionally well positioned to advance on the significant growth opportunity ahead.”</p>
<p>The financing follows a HoldCo facility that 38 Degrees North closed with EIG and announced in August 2026 to advance its development pipeline. 38 Degrees North said it has raised more than $1.7 billion in capital to date as it develops community solar and distributed generation projects across multiple markets.</p>
<p>Stoel Rives represented 38 Degrees North in the financing transaction, while Norton Rose Fulbright represented the lender group.</p>
<p>In June of this year, 38 Degrees North <a href="https://mercomcapital.com/38-degrees-north-acquires-104-mw-community-solar-projects/" target="_blank" rel="noopener">acquired</a> 104 MW of community solar projects in Illinois from Cypress Creek Energy. The companies said the acquisition expanded 38 Degrees North&#8217;s presence in Illinois.</p>
<p>Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s recently released 1H and Q2 2026 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/1h-and-q2-2026-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.</p>


38 Degrees North Secures $260 Million for Community Solar Projects


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					</table><p><strong>From: <a href="https://mercomcapital.com/project-finance-brief-cypress-creek-secures-3-5-billion/" target="_blank" rel="noopener"><span style="text-decoration: underline;">Mercom Capital Group</span></a></strong></p>
<p><strong>Cypress Creek Energy, a solar and energy storage project developer, has <a href="https://mercomcapital.com/cypress-creek-secures-3-5b-steel-river-energy-project/" target="_blank" rel="noopener">secured</a> $3.5 billion in financing for the first two phases of the Steel River Energy Center</strong>, a three-phase solar and battery storage project in Arkansas, U.S. The first two phases will add 1.63 GW of solar capacity and 1.9 GWh of battery storage to the regional grid. The full project is expected to provide 2.45 GW of solar capacity and 2.9 GWh of battery storage by 2029, according to the company<strong>.</strong></p>
<p><strong>DRI, an Amsterdam-based European renewable energy developer and the European renewables arm of DTEK Group, has <a href="https://mercomcapital.com/dri-secures-127m-133-mw-battery-storage-project-poland/" target="_blank" rel="noopener">secured</a> approximately PLN 470 million (~$127.4 million) in</strong> non-recourse project financing for its 133 MW Trzebinia battery energy storage project in Poland. The facility will support the construction of the Trzebinia battery storage project in Poland’s Trzebinia district. The project is expected to begin operations early in 2027.</p>
<p><strong>Eiffel Investment Group</strong>, <strong>an independent asset manager, through its infrastructure funds, has <a href="https://mercomcapital.com/eiffel-investment-group-to-acquire-50-stake-in-solar-and-storage-portfolio/" target="_blank" rel="noopener">agreed</a> to acquire a 50% interest in a</strong> Norwegian portfolio from Landinfra Energy, a Nordic renewable energy developer. The portfolio comprises four projects located in the NO1 price area, with an aggregate planned capacity of approximately 886 MW of solar power and 177 MW of co-located battery storage.</p>
<p><strong>Masdar (Abu Dhabi Future Energy Company PJSC), a UAE-based renewable energy developer, has <a href="https://mercomcapital.com/masdar-buys-stake-respsols-705-mw-renewables-portfolio/" target="_blank" rel="noopener">signed</a> an agreement to acquire a 49.99% stake </strong>in Madrid-based energy and petrochemical company Repsol’s 705 MW operational renewable energy portfolio in Spain. The transaction values the portfolio at €849 million (~$985 million). The agreement was signed in Abu Dhabi by Masdar Chief Executive Officer Mohamed Jameel Al Ramahi and João Costeira, executive managing director of low-carbon generation at Repsol.</p>
<p><strong>38 Degrees North, a community solar and distributed renewable energy developer and operator, has <a href="https://mercomcapital.com/38-degrees-north-acquires-104-mw-community-solar-projects/" target="_blank" rel="noopener">acquired</a> 104 MW of community solar projects in</strong> Illinois from Cypress Creek Energy, an independent power producer. The portfolio comprises 16 advanced-stage projects across 14 counties in Illinois. The companies said the projects are expected to be placed in service by 2027. Additionally, 38 Degrees North said it is developing, acquiring, and constructing other community solar projects in Illinois.</p>
<p><strong> </strong></p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s project finance <a href="https://www.mercomindia.com/project-finance-brief-esvolta-secures-450-million-upsized-credit-facility" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Cypress Creek Secures $3.5 Billion


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					</table><p><a href="https://www.38degreesn.com/" target="_blank" rel="noopener">38 Degrees North</a>, a community solar and distributed renewable energy developer and operator, has acquired 104 MW of community solar projects in Illinois from <a href="https://ccrenew.com/" target="_blank" rel="noopener">Cypress Creek Energy</a>, an independent power producer.</p>
<p>The portfolio comprises 16 advanced-stage projects across 14 counties in Illinois. The companies said the projects are expected to be placed in service by 2027. Additionally, 38 Degrees North said it is developing, acquiring, and constructing other community solar projects in Illinois.</p>
<p>The transaction expands 38 Degrees North’s presence in Illinois, which the companies described as a key U.S. market for community solar and energy storage. According to the announcement, Illinois added 349 MW of community solar capacity in 2025, ranking second in the U.S. for installations.</p>
<p>“38DN is deeply committed to collaborating with communities, developers, and capital partners to advance community solar in the U.S., and in particular, in critical markets like Illinois,” said Jake Carney, Co-Founder and Managing Director of 38DN. “Our platform is built to develop, acquire, finance, and operate distributed energy projects at scale, and this acquisition reflects this and our capabilities to support continued growth in this segment.”<br />
Cypress Creek Energy said it has developed more than 250 MW across more than 50 projects in the state. The transaction supports its strategy of building, owning, and operating utility-scale assets.</p>
<p>Previously, in March 2026, Cypress Creek Renewables <a href="https://mercomcapital.com/cypress-creek-acquires-2-5-gw-solar-project-2-9-gwh-energy-storage/" target="_blank" rel="noopener">acquired</a> the Steel River project from Swift Current Energy, a renewable energy project developer. The Steel River project, currently under development in Mississippi County, Arkansas, will have 2.45 GW of solar generation paired with 2.9 GWh (720 MW) of battery storage capacity.</p>
<p>The companies have worked together since 2018 and have previously acquired over 85 MW of community solar assets in New York.</p>
<p>According to Mercom’s Q1 2026 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.</p>


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