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<a href="https://goldenpeakscapital.com/" target="_blank" rel="noopener">GoldenPeaks Capital</a> (GPC), an independent renewable energy power producer, closed a senior loan facility of €114 million (~$133 million) to finance the construction of two solar project portfolios located in Poland.
PKO Bank Polski and Alior Bank provided the financing, with Capcora serving as the exclusive financial advisor to GPC on the transaction.
The solar projects are grouped in two separate portfolios. All the projects will benefit from a long-term corporate power purchase agreement.
The project financing comprises funding for the direct current upscaling capacity of the portfolio projects, with additional funding to be provided upon finalization of the permitting process.
Alior Bank joined as a new banking partner with this transaction, while PKO Bank Polski returned as a lender. Addleshaw Goddard acted as legal advisors to the senior lenders, while Greenberg Traurig and Clyde &amp; Co served as GoldenPeaks Capital&#8217;s advisors on the transaction.
&#8220;GoldenPeaks continues to be the leading IPP of renewable energy in Poland, which remains our core market. This transaction demonstrates our continued strong cooperation with local leading banks and strong international institutions on this journey,&#8221; said Daniel Tain, President and Founder at GoldenPeaks Capital.
Anna Trochim, Head of Structured Finance at Alior Bank, stated, &#8220;As a new banking partner for GoldenPeaks Capital, we are committed to providing innovative financial solutions and supporting their growth ambitions with tailored banking services. We are happy to be part of this transaction.&#8221;
In July 2024, the company <a href="https://cms.mercomindia.com/goldenpeaks-capital-secures-financing-for-177-" target="_blank" rel="noopener">secured</a> €109 million (~$118.46 million) in financing across separate transactions for two large-scale solar project portfolios in Poland. Both portfolios, totaling 177 MW, are being developed by GoldenPeaks Capital.
According to Mercom&#8217;s 9M and Q3 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.

GoldenPeaks Capital Secures $133 Million for Solar Portfolios

JUWI, a renewable energy project developer and wholly owned subsidiary of MVV Energie, announced the <a href="https://cms.mercomindia.com/juwi-sells-267-mw-solar-portfolio-in-greece/" target="_blank" rel="noopener">sale</a> of a 267 MW solar portfolio in Greece to Foresight and Mirova, a Paris headquartered asset management company. The construction of the projects is expected to begin in August 2024. The portfolio comprises three solar projects with an individual capacity of 160 MW, 40 MW, and 67 MW.
Clearway Energy Group, a developer and operator of clean energy projects, <a href="https://cms.mercomindia.com/clearway-secures-700-million-financing-for-solar-and-storage-project/" target="_blank" rel="noopener">announced</a> that it has secured more than $700 million in construction financing for the 200 MW Luna Valley Solar Project and a 113.5 MW standalone energy storage project in San Bernardino County, which is in the final phase of the 482 MW Daggett Solar + 394 MW Storage complex. The construction of the projects has already begun, and commercial operations of both projects are scheduled for 2025.
Frontier Energy, an Australian clean energy project developer, <a href="https://cms.mercomindia.com/frontier-energy-secures-142-million-in-debt-financing/" target="_blank" rel="noopener">secured</a> A$215 million (~$142.42 million) in senior project debt financing for developing the Waroona Renewable Energy Project  with Infradebt, an Australian infrastructure fund manager. The funding will support the construction and operation of Stage One of the WERP, a solar plus storage project.
GoldenPeaks Capital, an independent renewable energy power producer, <a href="https://cms.mercomindia.com/goldenpeaks-capital-secures-financing-for-177-mw-solar-project-portfolio-in-poland/" target="_blank" rel="noopener">secured</a> €109 million (~$118.46 million) in financing across separate transactions for two large-scale solar project portfolios in Poland. Both portfolios, having a total capacity of 177 MW, are being developed by GoldenPeaks Capital. The two portfolios comprise over 100 solar projects, which are in various stages of construction and scheduled for commercial operations by Q4 2024.
Green Genius, a renewable energy project developer, entered into an <a href="https://cms.mercomindia.com/green-genius-sells-34-mw-solar-portfolio-in-lithuania/" target="_blank" rel="noopener">agreement</a> to sell a 34 MW solar project portfolio in Lithuania to Nala Renewables, a renewable energy investment and development platform. Nala Renewables additionally signed an agreement with Green Genius to acquire further 45 MW of solar projects in the near term. The acquisitions are expected to raise the total size of the portfolio in Lithuania to 79 MW.
India-based renewable energy company BluPine Energy said it has <a href="https://www.mercomindia.com/blupine-energy-secures-%E2%82%B92-39-billion-from-tata-capital" target="_blank" rel="noopener">secured</a> a funding of ₹2.39 billion (~$ 28.54 million) from Tata Capital. The funding will be utilized for a 75 MW solar power project in Chhattisgarh, India. The project is expected to generate close to 117 million units of energy per year and offset more than 107,000 tons of carbon emissions.
Click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-intersect-power-project-financing/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: JUWI Sells 267 MW Solar Portfolio in Greece

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-juwi-sells-solar-portfolio-greece/" target="_blank" rel="noopener">Mercom Capital Group</a>
JUWI, a renewable energy project developer and wholly owned subsidiary of MVV Energie, announced the <a href="https://mercomcapital.com/juwi-sells-267-mw-solar-portfolio-in-greece/" target="_blank" rel="noopener">sale</a> of a 267 MW solar portfolio in Greece to Foresight and Mirova, a Paris headquartered asset management company. The construction of the projects is expected to begin in August 2024. The portfolio comprises three solar projects with an individual capacity of 160 MW, 40 MW, and 67 MW.
Clearway Energy Group, a developer and operator of clean energy projects, <a href="https://mercomcapital.com/clearway-secures-700-million-financing-for-solar-and-storage-project/" target="_blank" rel="noopener">announced</a> that it has secured more than $700 million in construction financing for the 200 MW Luna Valley Solar Project and a 113.5 MW standalone energy storage project in San Bernardino County, which is in the final phase of the 482 MW Daggett Solar + 394 MW Storage complex. The construction of the projects has already begun, and commercial operations of both projects are scheduled for 2025.
Frontier Energy, an Australian clean energy project developer, <a href="https://mercomcapital.com/frontier-energy-secures-142-million-in-debt-financing/" target="_blank" rel="noopener">secured</a> A$215 million (~$142.42 million) in senior project debt financing for developing the Waroona Renewable Energy Project  with Infradebt, an Australian infrastructure fund manager. The funding will support the construction and operation of Stage One of the WERP, a solar plus storage project.
GoldenPeaks Capital, an independent renewable energy power producer, <a href="https://mercomcapital.com/goldenpeaks-capital-secures-financing-for-177-mw-solar-project-portfolio-in-poland/" target="_blank" rel="noopener">secured</a> €109 million (~$118.46 million) in financing across separate transactions for two large-scale solar project portfolios in Poland. Both portfolios, having a total capacity of 177 MW, are being developed by GoldenPeaks Capital. The two portfolios comprise over 100 solar projects, which are in various stages of construction and scheduled for commercial operations by Q4 2024.
Green Genius, a renewable energy project developer, entered into an <a href="https://mercomcapital.com/green-genius-sells-34-mw-solar-portfolio-in-lithuania/" target="_blank" rel="noopener">agreement</a> to sell a 34 MW solar project portfolio in Lithuania to Nala Renewables, a renewable energy investment and development platform. Nala Renewables additionally signed an agreement with Green Genius to acquire further 45 MW of solar projects in the near term. The acquisitions are expected to raise the total size of the portfolio in Lithuania to 79 MW.
India-based renewable energy company BluPine Energy said it has <a href="https://www.mercomindia.com/blupine-energy-secures-%E2%82%B92-39-billion-from-tata-capital" target="_blank" rel="noopener">secured</a> a funding of ₹2.39 billion (~$ 28.54 million) from Tata Capital. The funding will be utilized for a 75 MW solar power project in Chhattisgarh, India. The project is expected to generate close to 117 million units of energy per year and offset more than 107,000 tons of carbon emissions.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-intersect-power-project-financing/" target="_blank" rel="noopener">brief</a>.

<a href="https://goldenpeakscapital.com/#top" target="_blank" rel="noopener">GoldenPeaks Capital</a> (GPC), an independent renewable energy power producer, secured €109 million (~$118.46 million) in financing across separate transactions for two large-scale solar project portfolios in Poland. Both portfolios, having a total capacity of 177 MW, are being developed by GoldenPeaks Capital.
The two portfolios comprise over 100 solar projects, which are in various stages of construction and scheduled for commercial operations by Q4 2024.
NORD/LB, a German bank, provided the funding. The €109 million financing is split in two separate transactions where €66 million (~$71.73 million) will support the KAMI 2 portfolio and €43 million (~$46.73 million) will go for the KAMI 3 portfolio.
In addition, Google has signed a 10-year power purchase agreement with GoldenPeaks Capital to achieve its carbon reduction targets.
Once operational, the two portfolios will produce enough carbon-free electricity to power over 12,000 households.
Heiko Ludwig, Global Head of Structured Finance at NORD/LB, said, “The solar farms will play a pivotal role in advancing the renewable energy transition in Poland, and we’re thrilled to support GoldenPeaks Capital on this important project.”
“NORD/LB was the perfect fit as financing partner for this Polish solar portfolio,” said Daniel Tain, Founder &amp; President of GoldenPeaks Capital.
Last month, GoldenPeaks Capital <a href="https://cms.mercomindia.com/goldenpeaks-capital-secures-financing-for-64-5-mw-solar-project-portfolio/" target="_blank" rel="noopener">closed</a> financing for 64.5 MW solar projects located in northeast Hungary. Erste Group and Erste Bank Hungary provided the senior financing. The portfolio comprises two solar projects and is currently under construction.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding in 1H 2024 came to $19.9 billion in 117 deals compared to $14.9 billion in 113 deals in 1H 2023.
Earlier this month, rPlus Energies, a solar and energy storage project developer, <a href="https://cms.mercomindia.com/rplus-energies-secures-over-1b-debt-financing-for-project/" target="_blank" rel="noopener">secured</a> over $1 billion in construction debt financing for its Green River Energy Center, which comprises 400 MW of solar PV and 400 MW/1,600 MWh of energy storage.

GoldenPeaks Capital Secures Financing for 177 MW Solar Project Portfolio in Poland

<a href="https://goldenpeakscapital.com/#top" target="_blank" rel="noopener">GoldenPeaks Capital</a> (GPC), an independent renewable energy power producer, closed financing for 64.5 MW solar projects located in northeast Hungary. Erste Group and Erste Bank Hungary provided the senior financing. The junior financing package was backed by a fund managed by Schelcher Prince Gestion(&#8220;SPG&#8221;), a French asset manager. Capcora served as the financial advisor to GPC on securing the mezzanine financing.
The portfolio comprises two solar projects and are currently under construction. The projects are expected to enter into long-term Power Purchase Agreements (PPAs).
The senior loan (whose financing was split evenly between Erste Group and Erste Bank Hungary) was secured at the SPV level. The junior financing was obtained structurally subordinated at the HoldCo level.
Dentons acted as the legal advisor to GPC, while Erste Bank worked with CMS and SPG with DLA Piper and Ganado Advocates. DNV provided technical advice to the lenders.
Daniel Tain, President of GPC said, &#8220;We&#8217;re delighted to have secured both senior and junior facilities for our projects in Hungary marking another milestone in our history. Concurrently, we&#8217;re welcoming two new strategic lenders to our network, crucial for our mission to be a leading Independent Power Producer (&#8220;IPP&#8221;) in the Central Eastern European (&#8220;CEE&#8221;) market.&#8221;
&#8220;We are pleased to help engineering a tailor-made and unique financing scheme for GPC. This transaction combines both upsizing and downsizing elements and addresses the need to combine merchant and PPA financing schemes in one transaction,&#8221; said Bernhard Hofman Director at Capcora.
According to Mercom&#8217;s Q1 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding announced in Q1 2024 came to $13 billion in 62 deals, a decrease of 24% QoQ compared to $17.1 billion in 60 deals in Q4 2023.
Sol Systems, a solar finance and development company, <a href="https://cms.mercomindia.com/sol-systems-secures-debt-financing-utility-scale-solar-projects/" target="_blank" rel="noopener">secured</a> $85 million in debt financing from Macquarie Asset Management, a global asset manager for the construction and development of five utility-scale solar projects in Illinois and Ohio.

GoldenPeaks Capital Secures Financing for 64.5 MW Solar Project Portfolio

BrightNight, a renewable energy power producer and its joint venture partner Cordelio Power <a href="https://cms.mercomindia.com/brightnight-and-cordelio-power-secure-solar-project/" target="_blank" rel="noopener">secured</a> a $414 million construction credit facility for the development of 300 MW Box Canyon utility-scale solar project in Pinal County, Arizona. The construction of the solar project began in December 2023 and is expected to begin operations in 1H 2025. Zions Bancorporation served as the Administrative Agent and Coordinating Lead Arranger. The Joint Lead Arrangers are National Bank of Canada, Royal Bank of Canada, Sumitomo Mitsui Trust Bank, and Canadian Imperial Bank of Commerce.
WElink Group, a developer of PV Solar, Wind, BESS, and hybrid clean energy projects in Europe, <a href="https://cms.mercomindia.com/welink-group-secures-financing-for-1-6-gw-energy-storage-portfolio/" target="_blank" rel="noopener">secured</a> a €20 million (~$21.57 million) borrowing base facility for a 1.6 GW pre-ready-to-build  energy storage-systems portfolio in Italy. Kommunalkredit Austria, a specialized infrastructure and energy financing bank, acted as the Mandated Lead Arranger. The BESS portfolio comprises twelve projects across Italy, with four projects already acquired and the balance under development contract for near-term acquisition.
Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, <a href="https://cms.mercomindia.com/vesper-energy-sells-solar-and-storage-project-in-california/" target="_blank" rel="noopener">announced</a> the sale of the Deer Creek Renewable Energy project, a solar and storage project located in Tulare County, California. The project was sold to a Fortune 500 energy company. The project consists of a generating capacity of up to 50 MW of solar and 50 MW of energy storage capacity. Vesper Energy has two additional projects currently in development in Tulare County, underscoring the organization’s commitment to the area’s clean energy transition and alignment with California’s goal to establish 100% zero-carbon energy planning by 2045.
Columbus Energy, a Poland-based photovoltaics installer, <a href="https://cms.mercomindia.com/columbus-energy-sells-28-1-mw-ready-to-build-solar-projects/" target="_blank" rel="noopener">entered</a> into a preliminary agreement with Nyx Renewable Energy owned by GoldenPeaks Capital for the sale of 28.1 MW solar projects. The portfolio includes 30 Columbus Energy solar projects which are implemented by 19 subsidiaries of the Group. These projects have issued connection conditions and are ready-to-build , with a total capacity of 28.1 MW. After determining the terms of the sale, the transaction will be completed in several tranches. Financial details about the initial arrangement were undisclosed.
Click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-energyre-secures-solar-storage-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: BrightNight and Cordelio Secure $414 Million for Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-brightnight-secure-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
BrightNight, a renewable energy power producer and its joint venture partner Cordelio Power <a href="https://mercomcapital.com/brightnight-and-cordelio-power-secure-solar-project/" target="_blank" rel="noopener">secured</a> a $414 million construction credit facility for the development of 300 MW Box Canyon utility-scale solar project in Pinal County, Arizona. The construction of the solar project began in December 2023 and is expected to begin operations in 1H 2025. Zions Bancorporation served as the Administrative Agent and Coordinating Lead Arranger. The Joint Lead Arrangers are National Bank of Canada, Royal Bank of Canada, Sumitomo Mitsui Trust Bank, and Canadian Imperial Bank of Commerce.
WElink Group, a developer of PV Solar, Wind, BESS, and hybrid clean energy projects in Europe, <a href="https://mercomcapital.com/welink-group-secures-financing-for-1-6-gw-energy-storage-portfolio/" target="_blank" rel="noopener">secured</a> a €20 million (~$21.57 million) borrowing base facility for a 1.6 GW pre-ready-to-build  energy storage-systems portfolio in Italy. Kommunalkredit Austria, a specialized infrastructure and energy financing bank, acted as the Mandated Lead Arranger. The BESS portfolio comprises twelve projects across Italy, with four projects already acquired and the balance under development contract for near-term acquisition.
Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, <a href="https://mercomcapital.com/vesper-energy-sells-solar-and-storage-project-in-california/" target="_blank" rel="noopener">announced</a> the sale of the Deer Creek Renewable Energy project, a solar and storage project located in Tulare County, California. The project was sold to a Fortune 500 energy company. The project consists of a generating capacity of up to 50 MW of solar and 50 MW of energy storage capacity. Vesper Energy has two additional projects currently in development in Tulare County, underscoring the organization’s commitment to the area’s clean energy transition and alignment with California’s goal to establish 100% zero-carbon energy planning by 2045.
Columbus Energy, a Poland-based photovoltaics installer, <a href="https://mercomcapital.com/columbus-energy-sells-28-1-mw-ready-to-build-solar-projects/" target="_blank" rel="noopener">entered</a> into a preliminary agreement with Nyx Renewable Energy owned by GoldenPeaks Capital for the sale of 28.1 MW solar projects. The portfolio includes 30 Columbus Energy solar projects which are implemented by 19 subsidiaries of the Group. These projects have issued connection conditions and are ready-to-build , with a total capacity of 28.1 MW. After determining the terms of the sale, the transaction will be completed in several tranches. Financial details about the initial arrangement were undisclosed.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-energyre-secures-solar-storage-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://group.columbusenergy.com/" target="_blank" rel="noopener">Columbus Energy</a>, a Poland-based photovoltaics installer, entered into a preliminary agreement with Nyx Renewable Energy owned by GoldenPeaks Capital for the sale of 28.1 MW solar projects. The portfolio includes 30 Columbus Energy solar projects which are implemented by 19 subsidiaries of the Group. These projects have issued connection conditions and ready-to-build (RtB), with a total capacity of 28.1 MW. After determining the terms of the sale, the transaction will be completed in several tranches.
Financial details about the initial arrangement were undisclosed.
“We decided to sell some of our farm projects created and developed in Columbus. We strive to ensure that these assets increase in value, so when there is a business offer that affects the development of the Group, we are happy to use it. GoldenPeaks Capital is a fund specializing in the construction and operation of photovoltaic projects, which guarantees the implementation of these projects at the highest professional level” &#8211; says Dawid Zieliński, president of Columbus Energy SA.
GoldenPeaks Capital specializes in the construction and operation of photovoltaic systems and is stated to have over 15 years of experience in structuring energy projects around the world, with a total capacity of over 6,000 MW.
According to Mercom’s Q1 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, almost 10.8 GW of solar projects were acquired in Q1 2024 compared to 11.9 GW in Q1 2023. In a QoQ comparison, 13.7 GW of solar projects were acquired in Q4 2023.
BW Solar, a solar and storage project developer, <a href="https://cms.mercomindia.com/bw-solar-sells-community-solar-project-portfolio-to-catalyze/" target="_blank" rel="noopener">announced</a> the sale of 12 community solar projects with a total capacity of 76.7 MW in New York to Catalyze, a clean energy transition company that finances, builds, owns, and operates solar and battery storage systems. The portfolio consists of projects in the range of 6~38.2 MW, which are currently under pre-construction, and another group of projects in the range of 6~38.5 MW, which are in the early stage of development and are all located in upstate New York.

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