Project Finance Brief: Kyon Energy Sells 194.7 MW Storage Projects

Enfinity Global secures financing for solar projects in Italy

December 13, 2023


From: Mercom Capital Group

Kyon Energy, a large-scale energy storage project developer, sold four projects in Germany with a cumulative capacity of 194.7 MW to Obtona Danish solar photovoltaic systems operator. The latest sale includes Europe’s largest battery storage facility in Alfeld, Lower Saxony (137.5 MW/275 MWh), marking the third project that Kyon Energy has transferred to the Danish investor this year. The company had previously sold Saxony-Anhalt (15.8 MW/35 MWh) and Karstädt, Brandenburg (20.7 MW/41.4 MWh) to Obton. The fourth energy storage project with 20.7 MW capacity is expected to be delivered to Obton by the end of 2023.

Enfinity Global, a renewable energy company, secured €118 million (~$127.35 million) financing for constructing four utility-scale solar power projects totaling 101 MW located in the Lazio (Italy) region, which are expected to become operational in 2024. The financing will provide €77 million (~$83.10 million) of non-recourse senior debt, €41 million (~$44.25 million) of VAT financing, and LC facilities for PPAs and PV modules.

Voltalia, an independent renewable energy power producer, announced the acquisition of a 55% stake in the 60 MW Mosselbanken solar project in the Netherlands. The project is located in the industrial port of Terneuzen, in the Zeeland province. The project revenues benefit from a Power purchase agreement (PPA) of 15 years.

Abu Dhabi Future Energy Company, Masdar, along with Taaleri Energia, a Finland-based renewable energy developer, have acquired eight hybrid renewable energy projects in Poland with a combined capacity of 1 GW from Domrel Biuro Usług Inwestycyjnych. The projects are under construction and will deploy solar photovoltaic and onshore wind technologies. Once in operation, they are expected to power 223,000 households and offset 1.8 million tons of carbon dioxide annually.

Audax Renovables, a vertically integrated Spanish renewable energy group, has secured institutional financing of €66 million (~$71.17 million) to construct a portfolio of 12 solar projects totaling 141 MW in Spain. The financing for the solar projects led by the European Investment Bank will also promote the commissioning of the solar portfolio.

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.