From: Mercom Capital Group

Nautilus Solar Energy, a U.S.-based community solar provider, announced the closing of a $275 million long-term debt facility, the company’s largest single debt transaction to date. The facility will support over 25 community solar projects spread across five states in the U.S., including Illinois, Maryland, Delaware, New York, and Rhode Island, which are expected to start operation over the next year.

Greenwood Sustainable Infrastructure, a renewable energy company focused on the development, construction, and operation of distributed generation and utility-scale solar energy and battery storage projects, announced the acquisition of the 556 MW Homestead solar project in Alberta, Canada, from Kiwetinohk Energy, a Canada-based energy company.

Independent power producer Inox Neo Energies, an INOXGFL Group company, has executed definitive agreements with Evergreen Power Mauritius and Evergreen Renewables to acquire their 640 MW wind-solar hybrid projects. The transaction encompasses five wind-solar hybrid projects across Maharashtra, contracted by SJVN under Hybrid Tenders 1 and 2 (120 MW) and NTPC under Hybrid Tenders 1 and 2 (520 MW).

ACME Venus Urja, a wholly owned subsidiary of ACME Solar Holdings, has secured a long-term project debt funding of ₹38.92 billion (~$440.13 million) from the State Bank of India for the development of a 400 MW firm and dispatchable renewable energy project in Barmer, Rajasthan. The loan’s repayment is spread across 19 years.

Aboitiz Renewables, the renewable energy arm of Aboitiz Power Corporation, through its wholly owned subsidiary, AP Renewable Energy Corporation, secured a P7.4 billion (~$129 million) project financing with the Bank of Philippine Islands. The financing will be used to fund the engineering, construction, operation, and maintenance of the 221 MW Olongapo solar project in Zambales, Philippines.

Aspen Power, a distributed energy generation platform, announced the acquisition of two community solar projects with a total capacity of 6.85 MW located in Northampton, Pennsylvania, from Syncarpha Capital, a solar and storage distributed generation project developer.

Grenergy, an independent solar and wind power producer, raised $270 million in senior non-recourse financing, including a term loan and letters of credit. The facility will be used to deploy 3.5 GWh of battery energy storage capacity for the sixth phase of the Oasis de Atacama project, known as Elena. A group of lenders comprising international financial institutions, led by Sumitomo Mitsui Banking Corporation as the structuring bank, along with BNP Paribas, BBVA, and KfW, provided the financing.

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.