From: Mercom Capital Group

Arevon Energy, a renewable energy developer, owner, and operator, closed a $920 million financing package for its 300 MW/1,200 MWh Nighthawk battery energy storage system (BESS) project in Poway, California. The financing package comprises a $482 million debt facility arranged by CIBC as the lead arranger, alongside ING Capital, NORD/LB, Santander, and Zions Bancorporation, a $169 million preferred equity investment with Goldman Sachs Alternative, and a $268 million tax credit transfer commitment with a corporate purchaser.

rPlus Energies, a U.S.-based renewable energy project developer, secured over $650 million in debt facilities and tax equity financing commitments for its 400 MWac/520 MWdc Blacks Creek Energy Center. Located in Ada County, Idaho, the project will supply electricity to the state’s power grid and support Meta’s public commitments related to the energy use of its Kuna data center, while also serving additional Idaho Power load demand.

ArtIn Energy, a utility-scale renewable energy developer, announced a definitive agreement for a $255 million investment from Agila Investments, a private platform focused on structured capital deployment across energy and infrastructure. According to the company, the investment will be used to fund its U.S. portfolio of utility-scale solar, battery storage, and green fuel projects.

HD Renewable Energy, a company that develops, constructs, and operates renewable energy and energy storage projects,  secured JPY 5.4 billion (~$34 million) project financing for its Helios grid-scale battery storage project in Hokkaido, Japan. The financing was arranged with the support of Nomura Capital Investment and Nomura Securities and was raised through a green project bond.

European Energy, a renewable energy project developer, completed the divestment of its remaining stake in the 151 MW Mineo solar project to the Italian investment management firm Sosteneo. With this transaction, Sosteneo will assume full ownership of the project and will be responsible for construction and future operations.

BayWa r.e., a renewable energy project developer, sold a 63 MWp solar project in the U.K. to the global private asset management firm Capital Dynamics. Located in Hampshire, the project is scheduled to commence construction in 2027. It will be supported by an allocation round 7 (AR7) Contracts for Difference offtake agreements and is expected to achieve commercial operation by 2028.

Metafin, a solar financing platform focused on rural micro, small, and medium enterprises (MSMEs) and households, secured a $10 million structured debt facility from global asset-backed credit provider Lendable. The funding will be used to expand Metafin’s access to affordable solar solutions and financing for productive-use solar systems for MSMEs, enterprises, and small businesses across rural India. Through these initiatives, Metafin aims to enable rural businesses and households to transition away from diesel-based energy solutions by improving their access to reliable, affordable solar power.

ACEN India, a subsidiary of the Philippines-based renewable energy company ACEN Renewables International, raised ₹7.52 billion (~$80.15 million) from Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation for its 100-MW wind power project in Bijapur, Karnataka. The company has signed the power purchase agreement for the project with SJVN. The project, expected to be commissioned in 2027, will generate around 330 million units of clean energy annually.

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

Read last week’s project finance brief.