From: Mercom Capital Group

Jupiter Power, a utility-scale energy storage project developer and operator, has closed $1.4 billion in financing across four transactions to support ten storage projects in Texas and Michigan. The utility-scale battery projects have a combined capacity of 1,500 MW/3,600 MWh. The transactions, which closed from April to July 2026, include senior secured project debt, tax equity bridge loans, and a U.S. private placement.

38 Degrees North, a community solar and distributed renewable energy developer and operator, has closed a $260 million financing facility with infrastructure finance platform Apterra Infrastructure Capital to support the construction of approximately 85 MW of community solar projects across New York and Illinois. Apterra, an affiliate of Apollo, served as joint lead arranger, administrative agent, and sole bookrunner.

Generate Capital, an investor, owner, and operator of critical infrastructure, has closed a $117 million term debt facility with MUFG to finance 18 community solar projects totaling 114 MW across Illinois and New York. The financing supports Generate’s Community Solar Fund 11 and marks the company’s first community solar financing with MUFG. According to Generate, the transaction also expands its community solar infrastructure.

Solar project developer Verdant Energy has secured up to $25 million in non-recourse project financing from responsAbility Investments to support its portfolio of commercial and industrial solar projects in Thailand. The financing will support the development, construction, and operation of the projects, providing long-term capital for Verdant’s solar projects in Thailand.

Patria Investments, an alternative asset manager in Latin America, has sold its entire stake in the 360 MW Puerta de Oro solar project in Colombia to ISAGEN, a Colombia-based renewable power generation company. Located in the municipalities of Guaduas and Chaguaní in Colombia’s Cundinamarca department, Puerta de Oro has an installed solar capacity of 360 MW. The project comprises more than 511,000 solar modules across approximately 530 hectares.

Kelag International, part of Austrian energy provider Kelag Group, which develops, operates, and manages renewable energy projects, has acquired eight photovoltaic projects in Italy with a total planned capacity of approximately 64.4 MW and expected annual electricity generation of around 107 GWh. The projects are primarily located in the Lombardy and Emilia-Romagna regions. Seven have reached the ready-to-build stage, while the remaining project is at an advanced stage of development.

Zenith Energy, an energy company focused on production and project development, has acquired Stradella 1, a ground-mounted solar photovoltaic development project with an indicative installed capacity of approximately 9 MW in the Province of Pavia, Lombardy, Italy. Zenith classified Stradella 1 as a development-stage project. With an installed capacity below 10 MW, the company expects the project to qualify for the PAS simplified authorization procedure.

ACME Cleantech Ventures, a UK-based subsidiary of the ACME Group, has secured up to $600 million from Brookfield Asset Management to support the development and construction of the company’s green molecule project pipeline in India and West Asia. The transaction marks Brookfield’s entry into the regions’ green molecule sector. The investment will combine Brookfield’s institutional capital with ACME’s project development and operating capabilities.

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

Read last week’s project finance brief.