From: Mercom Capital Group

Nautilus, a New Jersey-based independent solar power producer, on behalf of its affiliate Nautilus U.S. Power Holdco, announced the acquisition of 54 MW of solar projects from Seaboard, a utility-scale solar project developer. The portfolio includes nine community solar projects in New York, expected to reach commercial operation by the fourth quarter of 2023.

Sonnedix, a global independent solar power producer, acquired a portfolio of 26 MW of operational solar projects in Spain. The portfolio comprises three projects, totaling 11 solar photovoltaic sub-projects across different regions in Spain, including Aragón, Castilla, León, Castilla la Macha, and Murcia.

Revolve Renewable Power Corporation, a developer of utility-scale solar, wind, and battery storage projects, announced the sale of its 1,250 MW of solar plus storage projects to ENGIE IR Holdings, a wholly owned subsidiary of ENGIE, following the signing of a share purchase agreement. The sale includes the Parker solar and storage project of 250 MW capacity and the Bouse solar and storage project with 1,000 MW capacity.

Renewable energy company Enfinity Global acquired a 400 MW operational utility-scale solar portfolio to expand the company’s reach in the U.S. The co-financing partners in the acquisition were global alternative investment manager AB CarVal, and financial institution Nomura.

Norway’s sovereign wealth fund Norges Bank Investment Management has signed an agreement to acquire a 49% stake in Iberdrola’s upcoming renewable energy portfolio comprising nearly 1.3 GW of solar and onshore wind projects in Spain. Norges Bank will pay €600 million (~$649 million) for the stake in the portfolio valued at approximately €1.2 billion (~$1.3 billion). The transaction is expected to be completed in the first quarter of 2023.

Renewables developer Econergy Renewable Energy has secured a €150 million (~$157.7 million) loan agreement with Phoenix Insurance to support its pipeline of solar photovoltaic projects in Romania and Poland. The loan, which was initially agreed between the two parties in February 2022, will primarily be granted in the form of a convertible loan (around €110 million (~$119 million) with the other €40 (~$43.27) million, as a fixed loan and with two-thirds of it, which is €100 million (~$108 million) for its Romania pipeline.

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

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