Project Finance Brief: Q ENERGY Sells 33 MW Solar Project in England

BayWa r.e. acquires 46 MW solar project in Romania


From: Mercom Capital Group

Q ENERGY, a solar, energy storage, and wind project developer, announced the sale of a 33 MW Whinfield Solar Project near Darlington in Northeast England to AlphaReal, an assets investment manager. The project, currently under construction, will have around 60,000 ground-mounted solar modules. Once operational, Q Energy expects the Whinfield project to generate clean electricity enough to power over 8,700 households in the UK.

BayWa r.e., a renewable energy service provider, developer, and distributor, announced the acquisition of the 46 MW White Gate solar project in Constanța county in Southeastern Romania. Romanian-based law firm Filip & Company advised the company. Financial details about the transaction were not disclosed.

Recurrent Energy, a solar and energy storage project developer and a wholly owned subsidiary of Canadian Solar, announced that it signed a $103 million tax credit facilitation agreement with Bank of America for the 160 MW North Fork Solar Project. The already operational project is located southwest of Oklahoma City. NordLB and Rabobank provided financing for the project. CRC-IB and Latham & Watkins advised Recurrent Energy on the tax credit transfer transaction.

Savion, a utility-scale solar and energy storage project developer, announced the completion of the 150 MW Cass County Solar Project sale to Ameren Missouri, an electric power utility company. Located near Beardstown, Illinois, and spanning about 1,700 acres, the construction of the solar project began in June 2023 and is anticipated to be completed by the end of 2024. Up to 330,000 solar modules are expected to be utilized in the project. Once operational, the project will supply electricity to the Midcontinent Independent System Operator power grid.

Renewable energy solutions provider KPI Green Energy has secured a credit facility of ₹6.86 billion (~$82.1 million) to develop a 200 MW solar photovoltaic power project in Khavda, Kutch District. The credit facility comes after the company recently raised ₹3 billion (~$36.08 million) through qualified institutions placement.

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.


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