From: Mercom Capital Group

Enlight Renewable Energy, a developer of renewable energy projects, has secured around $310 million for the hybridization of the Gecama Project, located in Spain. The funding was led by the MEAG Infrastructure Debt Transactions team, which also acted as the sole arranger in its capacity as portfolio manager of certain funds and accounts, along with additional institutional co-investors. The funding comprises two tranches, both with a fixed interest rate of ~5.1%, and will be fully amortized by 2045 and 2046, respectively.

European Energy, a renewable energy project developer, has closed a €145 million (~$165 million) long-term loan agreement with SEB Lithuania and Swedbank Lithuania. The loan covers the Telšiai I and Telšiai II onshore wind farms, each with an installed capacity of 60 MW, and the 78.5 MW Anykščiai solar park. Additionally, it will fund the construction of a new battery storage facility, which will be co-located with the Anykščiai solar park.

Renewable energy developer Serentica Renewables has announced the closure of its debt financing, exceeding $100 million, from Rabobank and Société Générale. The funds will be used to develop a 300 MW solar power project in Rajasthan. The project will supply renewable energy to Bharat Aluminium Company, a subsidiary of the Vedanta Group. The loan facility is a key part of Serentica’s financing strategy to support its commercial and industrial-focused renewable energy operations.

GIGA Storage, a developer, investor, and operator of large-scale energy storage projects, has closed a €300 million (~$340 million) project financing package and commenced construction of the 300 MW/1,200 MWh GIGA Leopard Energy Storage project. GIGA LEOPARD is expected to contribute to balancing the difference between supply and demand on the Dutch electricity grid. The project, located in Delfzijl, the Netherlands, will connect to TenneT’s high-voltage grid via an existing substation and is expected to be commissioned in the second half of 2027.

rPlus Energies, a solar and energy storage project developer, has secured over $500 million in tax equity funding commitments to support the development and construction of the Green River Energy project in Emery County, Utah. The project is currently under construction and is scheduled for completion in 2026.

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.