From: Mercom Capital Group

ContourGlobal, a renewable energy power generation and a subsidiary of KKR, announced the acquisition of battery energy storage projects totaling 1.6 GW with up to eight hours of storage duration, located in Italy. This acquisition strategically positions ContourGlobal ahead of the upcoming Italian Storage Capacity Procurement Mechanism auctions, which are scheduled to begin in September.

ib vogt, a solar and energy storage project developer, announced the sale of the 110 MWp Pato solar project located in Segovia, Spain, to NextPower V ESG, a private solar infrastructure strategy managed by NextEnergy Capital. The Pato solar project is equipped with bifacial solar panels and tracking mounts and is expected to generate approximately 215 GWh of renewable electricity per year. It also benefits from a long-term power purchase agreement with an industrial technology innovator.

SUNOTEC, a renewable energy development and construction company, announced the acquisition of a 100% stake in SIA DSE Lazas Solar from Danish Sun Energy, a renewable project developer, to build a 400 MWp solar project with a 600 MWh battery energy storage system. The total cost of the project, located in Cīrava Rural Territory, Lazas parish, Dienvidkurzeme Municipality, Latvia, is estimated to be up to €245 million (~$288.43 million). The first phase of the project received a ready-to-build permit in June 2025, and the construction phase is expected to begin by the end of 2025. The project is expected to be fully operational by March 2027.

Arevon Energy, a renewable energy developer, owner, and operator, announced the closing of a $600 million credit financing facility, with the option to increase it up to $850 million. The facility will support the company’s expansion of its portfolio of renewable energy projects across the U.S. The financing package consists of a $350 million revolving loan and a letter of credit facility, and a $250 million project letter of credit facility.

EDF power solutions UK, previously known as EDF Renewables, an independent power producer and services provider, announced the acquisition of the 500 MW Gate Burton Energy Park solar project in Lincolnshire from Low Carbon, a renewable energy project developer. EDF will work through the details of the consent order and the program for delivering the project before engaging stakeholders and the community on the plans to begin construction.

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

Read last week’s project finance brief.