Saatvik Green Energy Acquires 80% Stake in Transformer Manufacturer

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EIE Renewables to Acquire 150 MWh Battery Storage Project in Bihar

MERC Approves 60 MW Wind-Solar PPA Withdrawal, Citing High Tariff


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-orsted-financing-energy-portfolio/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Ørsted, a Danish renewable energy company, </strong><a href="https://mercomcapital.com/orsted-secures-tax-equity-financing-for-solar-and-energy-storage-portfolio/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $680 million in tax equity financing from J.P. Morgan to develop solar and energy storage projects in Arizona and Texas, U.S.</strong> The portfolio consists of Eleven Mile Solar Center, a 300 MW solar with a 300 MW/1200 MWh storage project in Pinal County, Arizona, and a 250 MW Sparta Solar project in Mineral, Texas. The funding will be used to develop projects with 550 MW of solar capacity and 300 MW of energy storage with a discharge capacity of 4 hours (1,200 MWh). Commercial operations for both projects are expected to commence in 2024.</p>
<p><strong>clearvise, an independent renewable energy power producer, <a href="https://mercomcapital.com/clearvise-acquires-solar-project-germany/" target="_blank" rel="noopener">announced</a> the acquisition of the 42 MW Wolfsgarten solar project from ALTUS</strong>. ALTUS, a German-based renewable energy project developer, planned and built the Wolfsgarten solar project. It was commissioned and put into operation at the end of April 2024. The electricity generated will be marketed via a Power Purchase Agreement.</p>
<p><strong>Masdar, a UAE-based renewable energy project developer, </strong><a href="https://mercomcapital.com/masdar-secures-financing-for-250-mw-solar-and-energy-storage-project-in-uzbekistan/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $159 million in financing for the development of a 250 MW solar project</strong> combined with a 63 MW battery energy storage system in the Alat district of the Bukhara region, Uzbekistan. The financial package, signed between the World Bank Group, Masdar, and the Government of Uzbekistan, includes a loan from the International Finance Corporation of up to $53 million. The Asian Development Bank, Dutch Entrepreneurial Development Bank, and Japan International Cooperation Agency will provide loans of up to $106 million.</p>
<p><strong>The Eurasian Development Bank (EDB) and Bishkek Solar </strong><a href="https://eabr.org/en/press/news/the-edb-signs-an-agreement-to-finance-the-construction-of-one-of-the-largest-solar-power-plants-in-t/" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a cooperation agreement to finance the construction of a 300 MW of solar project in Toru-Aigyr village</strong>, Issyk-Kul Region, Kyrgyz Republic. The EDB is expected to formulate the terms of long-term financing for the project, including tied funding, totaling up to $210 million for 15 years. The solar project is expected to be commissioned by the end of 2025.</p>
<p><strong>ONDE, a renewable energy contractor involved in the development of solar and wind projects, </strong><a href="https://mercomcapital.com/onde-acquires-63-mw-solar-project-in-poland/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a 63 MW solar project</strong> located in the West Pomeranian Voivodeship in Poland. The company acquired 100% stakes in a special-purpose vehicle that owns the solar project. The project is in the advanced stage of development and is expected to reach commercial operation in mid-2027.</p>
<p>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.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-catalyze-community-solar-projects/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Ørsted Secures Financing for Solar and Energy Storage Portfolio


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-primergy-secures-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Primergy Solar, a developer, owner, and operator focused on distributed and utility-scale solar PV and battery storage projects, </strong><a href="https://mercomcapital.com/primergy-solar-secures-financing-408-mw-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the closure</strong> of its $588 million commitments in debt financing for the 408 MW Ash Creek solar project in Hill County, Texas. The company has also signed a long-term power purchase agreement with Microsoft for the plant’s total capacity.</p>
<p><strong>Longroad Energy, a U.S.-based renewable energy project developer, </strong><a href="https://mercomcapital.com/longroad-energy-secures-financing-serrano-solar-storage-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the financial close of 220 MW solar and 214 MW/855 MWh storage project</strong> in Pinal and Pima Counties, Arizona. The Serrano project is under construction and is expected to reach commercial operations by mid-2025. The output of the Serrano project will be purchased by Arizona Public Service via a long-term power purchase agreement.</p>
<p><strong>Lightsource bp, a solar project developer, has </strong><a href="https://lightsourcebp.com/us/news/barclays-and-lightsource-bp-agree-140-million-tax-equity-deal-for-solar-project-in-st-landry-parish-louisiana/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $140 million tax equity commitments from Barclays</strong> to construct the Prairie Ronde 180MWdc solar project in St. Landry Parish, Louisiana. Once completed, the project holds significant benefits for the St. Landry Parish community. Lightsource bp has committed to dedicating $250,000 in funds to philanthropic activities and charity donations to local St. Landry Parish organizations.</p>
<p><strong>ONDE, a renewable energy contractor involved in developing solar and wind projects, <a href="https://mercomcapital.com/onde-sold-solar-projects-sachsenenergie/" target="_blank" rel="noopener">sold</a> a 23.1 MW portfolio of three solar projects</strong> for PLN19 million (~$4.8 million) to German municipal utility SachsenEnergie. Out of three solar projects sold, two are under construction with a total capacity of 18.7 MW, and another is under development with a potential capacity of 4.4 MW.</p>
<p><strong>India-based BluPine Energy has </strong><a href="https://www.mercomindia.com/blupine-energy-financing-wind-project-gujarat"><strong>secured</strong></a><strong> ₹12.6 billion (~$152.1 million) for its 198 MW wind project situated in Gujarat, which it had won under Gujarat Urja Vikas Nigam’s</strong>  auction to purchase power from 500 MW of grid-connected wind power projects (Phase-III) in 2022. Standard Chartered Bank and TATA Capital will act as underwriters for the green loan financing, the company said.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-x-elio-financing-solar-projects/">brief</a>.</p>


Project Finance Brief: Primergy Secures $588 Million for 408 MW Solar Project

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