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

/ Staff
thumbnail

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.

thumbnail

Staff

RELATED POSTS

Mercom Research Focus
thumbnail
India Installs a Record 2.5 GW of Solar Open Access in 2022, Up 92% YoY

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 Projects

The 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 Option

Gujarat 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: Interview

Small 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

Magazine

DON'T MISS AN ISSUE!

Mercom Cleantech Magazine

Get Your Copy Today!

magazines

Latest News

thumbnail
Maharashtra Approves Tariffs for 8.7 MW of Solar Power Under KUSUM Program

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

thumbnail
Brookfield to Aquire KKR’s 50% Stake in Renewable Developer X-Elio

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

thumbnail
NTPC’s Subsidiary Will Develop Renewable Projects for IndianOil Refineries

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

thumbnail
Constant Climate-Centric Funding Can Limit Global Temperature Under 1.5°C 

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

thumbnail
India Voices Concern over Europe’s Carbon Tariff Measure at WTO

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

thumbnail
JSW and Greenko Win Karnataka’s Bid for 1 GW of Pumped Storage Projects

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

thumbnail
Sterling and Wilson Bags BoS Package Tender for 1.2 GW Solar Projects

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

thumbnail
Indian Oil Floats O&M Tender for 8 MW Solar Project in Ahmedabad

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

thumbnail
IIT Mandi Creates Low-Cost Method for Solar Cell Metal Oxide Layers

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

thumbnail
Government Allows NTPC to Invest Over 30% of Net Worth in its Green Arm

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

MORE NEWS