Project Finance Brief: Lightsource bp Closes Financing for 515 MW Solar Farms in Australia
CEE Group acquires a 44 MW solar project from Obton
December 14, 2022
From: Mercom Capital Group
Lightsource bp, a solar project developer, closed a A$540 million (~$365 million) portfolio green financing package to help execute its 425 MW Wellington North and 90 MW Wunghnu solar farms located in New South Wales and Victoria, Australia. The funding was provided by ANZ, ING, Mizuho, NORD/LB, and Westpac. Together with its Wellington, West Wyalong, and Woolooga projects, Lightsource bp now has over 1 GW of generating capacity in construction and operation in Australia.
CEE Group, a German-based asset manager, acquired a 44 MW solar park in the Netherlands from the Denmark-based solar project developer Obton. The solar project is situated on 36 hectares in Harderwold, in the central Netherlands, and is associated with annual electricity production of about 45.1 GWh. The project is expected to be commissioned by December 31, 2022.
EDF Renewables North America, an independent power producer and services provider entered into an agreement with Luminace, a Brookfield Renewable Company, under which Luminace will acquire 21.6 MW portfolio of three community solar projects in the U.S. state of Maine. The projects include Overlook Solar in Bristol, Tower Solar in Embden, and Green Mile Solar in Woolwich. Following the transaction, EDF Renewables, which developed the program, will continue to act as an engineering, procurement, and construction contractor.
Westbridge Renewable, a solar project developer, and its wholly-owned subsidiary, Georgetown Solar, secured CAD$4.83 million (~$3.57 million) financing to fund its flagship project, the Georgetown Solar plus Energy Storage project. The loan is secured by a first priority security interest against the assets of Georgetown, bears interest at 12% per annum, and matures 12 months from the Loan Agreement date.
U.S. clean energy solutions provider NineDot Energy has secured financing to realize 11 standalone battery storage projects delivering 43 MW across the New York City region. CIT, a division of First Citizens Bank, and SMBC provided an $85 million construction-to-term debt facility to support the construction and operation of the projects. The sites are located in the Bronx, Staten Island, Queens, and Long Island.
Commerz Real, a German-based asset manager, acquired 50 MW of agrivoltaic projects for its Klimavest impact fund. Located close to Berlin, the park is to commence operations in 2025. The seller and cooperation partner is Elysium Solar, a joint venture between EIC Partners from Zurich and LBD-Beratungsgesellschaft from Berlin. The two advisory firms specialize in the energy market.
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.
Get the most relevant India solar and clean energy news.
RECENT POSTS
LATEST HEADLINES
Maharashtra Approves Tariffs for 8.7 MW of Solar Power Under KUSUM Program
Mar 21, 2023
Brookfield to Aquire KKR’s 50% Stake in Renewable Developer X-Elio
Mar 21, 2023
NTPC’s Subsidiary Will Develop Renewable Projects for IndianOil Refineries
Mar 21, 2023
Constant Climate-Centric Funding Can Limit Global Temperature Under 1.5°C
Mar 21, 2023
India Voices Concern over Europe’s Carbon Tariff Measure at WTO
Mar 21, 2023
India added 2.5 GW of solar open access in the calendar year (CY) 2022, a year-over-year (YoY) increase of 92% from the 1.3 GW installed in CY 2021, according to the newly released 2022 Q4 & Annual Mercom India Solar Open Acce...
March 15, 2023
Solar
Kerala Issues Empanelment Tender for 100 MW of Solar ProjectsThe Kerala State Electricity Board (KSEB) has invited bids to empanel solar developers to set up 100 MW of grid-connected rooftop and ground-mounted projects. Empanelled vendors also must furnish operation and maintenance (O&M...
March 20, 2023
Tenders and Auctions
Gujarat Invites Bids to Procure 500 MW of Wind Power with Greenshoe OptionGujarat Urja Vikas Nigam (GUVNL) has invited bids to procure power from 500 MW of grid-connected wind projects (Phase V) with a greenshoe option of an additional capacity of up to 500 MW. The last day to submit the bids online is ...
March 17, 2023
Rooftop
MSMEs Adopt Solar Readily If Savings on Power Bills Cover EMI Cost: InterviewSmall businesses are open to adopting rooftop solar if loan repayment is not an additional burden and is equal to their savings on electricity bills. Entities in the commercial and industrial (C&I) segment are increasingly mov...
March 17, 2023
Trending News
Tender & Auctions
Indian Oil Floats O&M Tender for 8 MW Solar Project in Ahmedabad
March 14, 2023
Technology
Researchers Find Solution to Manage Load in Solar PV & Storage Systems
February 28, 2023
February 27, 2023
February 24, 2023
January 17, 2023
Magazine
Grid
Sterlite Bags ISTS Project to Evacuate 20 GW of Renewables in Rajasthan
March 13, 2023
Latest News
The Maharashtra Electricity Regulatory Commission (MERC) has adopted tariffs of ₹3.28 (~$0.039)/kWh, ₹3.29 (~$0.039)/kWh, and ₹3.30 (~$0.040)/kWh for the procurement of 8.7 MW of solar power on a long-term basis. The Commission...
March 21, 2023
Global investment firm Kohlberg Kravis Roberts (KKR) has agreed to sell 50% of its stake in renewable developer X-ELIO to its joint venture partner Brookfield Renewable. Financial details were not disclosed. Since KKR’s...
March 21, 2023
NTPC Limited’s wholly owned subsidiary, NGEL, has entered into a joint venture agreement with Indian Oil Corporation (IOCL) to develop renewable energy projects that can meet round-the-clock power requirements to meet the...
March 21, 2023
Financial support from developed economies to developing nations which is a critical enabler of climate action has been inadequate, said scientists in the latest Intergovernmental Panel on Climate Change (IPCC) report...
March 21, 2023
India has expressed concern about the carbon border measures proposed by the European Union (EU) at a recent meeting of the World Trade Organization’s (WTO) Committee on Trade and Environment. Presenting a paper on the increasing...
March 21, 2023
JSW Neo Energy (JSW Energy) and Greenko KA 01 IREP (Greenko) have won the Power Company of Karnataka’s (PCKL) auction to supply 1 GW of energy for 8 hours daily from pumped hydro storage projects providing continuous 5-hour...
March 21, 2023
Sterling and Wilson Renewable Energy, the solar engineering, procurement, and construction (EPC) arm of Shapoorji Pallonji Group, won NTPC’s tender for the balance of system (BOS) package to develop 1.2 GW (4*300 MW) of solar...
March 21, 2023
Indian Oil Corporation (IOCL) has invited bids for the operation and maintenance (O&M) of an existing 8 MW solar power project at the LPG bottling plant at Sanand in Ahmedabad for five years. The last date to submit the bids...
March 21, 2023
Researchers at the Indian Institute of Technology Mandi (IIT Mandi) have claimed a breakthrough in producing metal oxide layers for use in advanced architecture silicon solar cells using a cost-effective method. This innovative...
March 21, 2023
The government has allowed NTPC to invest in its subsidiary, NTPC Green Energy (NGEL), beyond the limit allowed for a ‘maharatna’ central public sector enterprise (CPSE). The extant guidelines prescribe a ceiling of 30% of a...
March 21, 2023
Get the most relevant India solar and clean energy news.
POPULAR POSTS
Maharashtra Approves Tariffs for 8.7 MW of Solar Power Under KUSUM Program
Mar 21, 2023
Brookfield to Aquire KKR’s 50% Stake in Renewable Developer X-Elio
Mar 21, 2023
NTPC’s Subsidiary Will Develop Renewable Projects for IndianOil Refineries
Mar 21, 2023
Constant Climate-Centric Funding Can Limit Global Temperature Under 1.5°C
Mar 21, 2023
India Voices Concern over Europe’s Carbon Tariff Measure at WTO
Mar 21, 2023
JSW and Greenko Win Karnataka’s Bid for 1 GW of Pumped Storage Projects
Mar 21, 2023
Sterling and Wilson Bags BoS Package Tender for 1.2 GW Solar Projects
Mar 21, 2023