From: Mercom Capital Group

Doral Renewables, a utility-scale renewable energy project developer, closed nearly $900 million in financing for its Cold Creek solar-plus-storage project in Schleicher and Tom Green Counties, Texas. The hybrid project includes 430 MWac of solar generation capacity and 340 MWh of battery energy storage systems (BESS). Following the notice to proceed issued in March this year, full construction of the project has begun. Commercial operation is expected in the summer of 2028.

Zelestra, a renewable energy project developer, secured a $600 million green financing credit facility with Société Générale and HSBC for the 252 MW Echols Gove project in Lamar County and the 187 MW Cedar Range solar project in Hopkins County in Texas. Both projects, currently under construction, are backed by long-term power purchase agreements with Meta.

Whysol Renewables, an independent power producer, secured a €319 million (~$369.62 million) green financing facility through its subsidiary Whysol ION Holding. The financing will enable the company to support the development of two battery energy storage projects and four agrivoltaic projects in Apulia, Sardinia, and Campania in Southern Italy, with a total capacity of approximately 328 MW.

Leeward Renewable Energy, a developer of solar, wind, and energy storage projects, acquired the 350 MW Harvey Solar Project in Licking County, Ohio. Open Road Renewables had originally developed the project, advancing Harvey Solar through permitting and early-stage development. Currently, the project is in the late stages of development, with construction scheduled to begin in fall 2026 and commercial operations expected for late 2028, subject to final development milestones.

Sonnedix, an independent solar power producer, acquired a portfolio of six solar projects with a combined capacity of 194 MW in Italy from asset managers EOS Investment Management and Capital Dynamics. Of the six projects, five are already in operation, totaling 182 MW, while the remaining project, with 12 MW of capacity, is currently under construction.

Energy Vault, a provider of grid-scale energy storage solutions, announced the acquisition of the McMurtre BESS from Belltown Power, a developer of utility-scale renewable energy projects. The 175 MW/350 MWh project, located in the ERCOT North market near Dallas, Texas, will use Energy Vault’s B-VAULT Platform 3, a battery energy storage solution designed to enable fast, cost-effective deployment while maintaining high system availability in the ERCOT region.

Grid Connected Infrastructure, a utility-scale energy storage project developer, announced the sale of the Megamouth battery energy storage project in Houston, Texas. The 100 MW/200 MWh project was sold to Banpu Power US Corporation, a wholly owned U.S. subsidiary of Banpu Power Public Company, an international energy producer company.

Singapore-headquartered energy-as-a-service infrastructure platform August Energy secured long-term project financing of ₹1.3 billion (~$15 million) in debt from Aseem Infrastructure Finance for a portfolio of renewable energy projects in the commercial and industrial segment. The financing will support multiple assets across the portfolio of August Energy India, a subsidiary of August Energy.

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.