From: Mercom Capital Group

Aditya Birla Renewables (ABRen), the renewable energy arm of the Aditya Birla Group, has secured a $1.6 billion (~₹153.08 billion) term loan facility from Mitsubishi UFJ Financial Group for its proposed acquisition of Solenergi Power, which includes the Sprng Energy group of companies. ABRen signed an agreement to acquire Sprng Energy from Shell Overseas Investment for an enterprise value of ₹172 billion (~$1.8 billion) in July this year.

Swift Current Energy, a renewable energy project developer, has closed a $750 million corporate credit facility that includes a $250 million accordion option that could increase its total capacity to up to $1 billion. The company said the dual-tranche facility has a three-year term and provides cash and letter of credit capacity to support the development, commercialization, ownership, and operation of large-scale energy projects across the U.S.

Key Capture Energy (KCE), a developer, owner, and operator of battery energy storage systems, has closed a $300 million letter of credit facility with Standard Chartered, which served as the sole provider and arranger. The facility will support KCE’s development pipeline across the U.S., with a near-term focus on the New York Independent System Operator and Midcontinent Independent System Operator markets.

Otovo, a company that provides behind-the-meter energy services, has signed definitive agreements to acquire Green Panel Solar Energy Systems for $11 million. The transaction is expected to be Otovo’s eighth and largest acquisition to date. The company said the combined operations will span 15 European markets. Otovo plans to pay the consideration through a combination of cash and newly issued shares.

Sun Drops Energia, the solar and renewable energy subsidiary of KP Group, will acquire up to 100% of the equity shares in renewable energy solutions provider DEK and Mavericks Green Energy at a valuation of ₹558 million (~$5.83 million). Sun Drops Energia will acquire up to 1,70,84,853 equity shares of DMGEL at ₹32.66 (~$0.34) per share. DMGEL will become a step-down subsidiary of Sun Drops Energia’s parent company, India-based renewable energy solutions company KPI Green Energy.

For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.

Read last week’s funding roundup.