Project Finance Brief: Atrato Onsite Energy Acquires Solar Projects for $37 Million

Aquila Capital raises €1 billion for 2.6 GW of renewable energy projects

September 14, 2022

/ Staff
thumbnail

From: Mercom Capital Group

Atrato Onsite Energy, an investment company, has acquired 33 MW of installed solar projects across 32 the UK from Macquarie’s Green Investment Group for £31 million (~$36.19 million). The offtakers are all institutional grade, and the project revenues benefit from annual inflation or fixed uplifts, with a remaining average maturity of 21 years for the power purchase agreements. The company has also reached a financial close on a 1 MW new rooftop solar project, benefitting from a 25-year power purchase agreement with a wholly owned subsidiary of Recipharm AB.

Aquila Clean Energy, a clean energy development platform of Germany-based asset manager Aquila Capital, has secured €1 billion (~$1.005 billion) from the European Investment Bank (EIB) and commercial banks to develop 2.6 GW of renewable energy projects in southern Europe. The EIB loan is backed by the European Union’s sustainable investment initiative InvestEU which aims to trigger over €372 billion (~$374 billion) in additional investment in the next five years.

Qcells, a utility-scale solar developer, energy storage developer, and solar EPC provider, closed a $150 million funding to support the construction of the Cunningham Energy Storage Project and other projects in their pipeline. BNP Paribas Securities and Crédit Agricole CIB were the lead arrangers for the facility with BNP acting also as sole Administrative Agent.

The European Bank for Reconstruction and Development provided around $100 million in financing to Adnan Polat Enerji Yatirimi, a renewable energy company, as part of a financing package jointly provided by Turkiye Is Bankasi, Turkiye Sinai Kalkinma Bankasi, and Garanti BBVA. The expansion includes 53 MW of wind and 150 MW of solar, which will prevent the emission of approximately 154,000 tons of CO2 each year from the Turkish power system by generating 438,000 GWh of electricity annually.

German investment manager Aquila Capital has struck a deal to acquire a 220-MW/440-MWh pipeline of battery energy storage projects in Australia from Spain’s Gransolar Group. The portfolio consists of three projects at various stages of development. The deal is Aquila Capital’s first investment in the energy storage market in Australia, where the German investor sees immense opportunities.

Ignitis Renewables has signed an agreement to acquire 100% shares of a Latvian company developing wind and solar projects in Latvia. The total targeted capacity of the project under development is around 200 MW. The project is in the early stage of development, with an estimated start of construction in 2025–2026 and a commercial operation date in 2027–2028.

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.

RELATED POSTS

thumbnail
Top 5 States for Open Access Solar Installations in CY 2022

India added an impressive 2.5 GW open access solar capacity in 2022, registering a growth of 92% year-over-year (YoY), according to the 2022 Q4 & Annual Mercom India Solar Open Access Market Report. Karnataka emerged as the to...

March 23, 2023

Markets & Policy

Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules

The Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements betwe...

March 24, 2023

C&I

In Bengaluru, a 100 kW Solar System Can Save C&I Entities ₹1 Million Annually

Mercom India successfully concluded the C&I Clean Energy Meet 2023 in Bengaluru, where stakeholders in the solar sector and commercial and industrial entities converged to enthusiastically discuss the benefits of renewable ene...

March 24, 2023

Other

Gensol Acquires Solar Tracker Maker Scorpius for ₹1.35 Billion

Gensol Engineering, a part of solar engineering, procurement, and construction (EPC) company Gensol Group, has acquired India-based solar tracker manufacturer Scorpius Trackers for ₹1.35 billion ($16.4 million). Gensol said the ac...

March 23, 2023

Magazine

DON'T MISS AN ISSUE!

Mercom Cleantech Magazine

Get Your Copy Today!

magazines

Latest News

thumbnail
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules

The Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements...

March 24, 2023

thumbnail
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed

The Ministry of New and Renewable Energy (MNRE) told the Parliamentary Standing Committee on Energy that the intra-state stretches of the Green Energy Corridor (GEC) have been delayed due to various reasons, including...

March 24, 2023

thumbnail
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project

German electric utility company Energie Baden-Wuerttemberg (EnBW) has made its final €2.4 billion (~$2.6 billion) investment decision on He Dreiht, a major wind project in the German North Sea. The project has a capacity of 960...

March 24, 2023

thumbnail
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short

The Parliamentary Standing Committee on Energy report has isolated underwhelming progress on rooftop solar and wind energy projects as the primary reason for India falling short of achieving its renewable energy capacity target...

March 24, 2023

thumbnail
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth

Researchers at Northumbria University are studying ways of producing wireless electricity from space to Earth by harvesting the Sun’s energy. U.S.-based aerospace, defense, and information security organization Lockheed Martin...

March 24, 2023

thumbnail
Regulator Directs Wind Energy Firm, MSEDCL, to Recompute Delayed Payment Charge

The Maharashtra Electricity Regulatory Commission (MERC) recently directed Hindustan Petroleum Corporation (HPCL) and the Maharashtra State Electricity Distribution Company (MSEDCL) to recompute the delayed payment charge from...

March 24, 2023

thumbnail
One-Step Coating Could Make Perovskite Solar Cells Commercially Viable

The National Renewable Energy Laboratory (NREL) has devised a new way to produce perovskite solar cells that could speed its commercialization. Different layers are typically added sequentially to a conductive glass substrate to...

March 24, 2023

thumbnail
ACWA Power to Develop Solar and Energy Storage Projects in Uzbekistan

Saudi Arabia-based energy company ACWA Power has signed power purchase and investment agreements with  National Electric Grid of Uzbekistan, and the Ministry of Investment, Industry, and Trade to develop new solar and battery...

March 24, 2023

thumbnail
China Securities Regulatory Commission Approves Canadian Solar’s IPO

The China Securities Regulatory Commission has approved the registration of CSI Solar, the engineering, procurement, and construction arm of solar module maker Canadian Solar, to issue an initial public offering (IPO). The...

March 24, 2023

thumbnail
Renewables Accounted for 83% of the Total Generation Capacity Added in 2022

Renewable capacity grew by 9.6% in 2022, adding a record 295 GW worldwide. This accounts for 83% of all power capacity added last year and brings the global renewable generation capacity to 3,372 GW by the end of last year, a...

March 24, 2023

MORE NEWS