From: Mercom Capital Group

Scatec, a renewable energy solutions provider, secured BRL 150 million (~$27 million) non-recourse project financing for the development of a 142 MW solar project in Minas Gerais, Brazil. The funding was provided by Banco de Nordeste do Brasil. The solar project is under construction and is expected to reach commercial operation in the first half of 2026. The financing package is 30% of the total estimated capital expenditure of BRL 506 million (~$91 million).

NextPower V ESG, a fund of NextEnergy Capital, announced the acquisition of a 73 MW advanced agrivoltaic solar project in Campania, south-eastern Italy. Additionally, the project has been awarded a 20-year contract for difference from the GME DM Agrivoltaico Auction for 100% of its volume. With this acquisition, the fund has increased the committed capacity to date to 670 MW, of which about 220 MW capacity is fully operational and an additional 230 MW is due to reach commercial operations shortly.

Energy Vault, a utility-scale energy storage project developer, announced that it has received Foreign Investment Review Board approval and completed the full acquisition of the 125 MW/1,000 MWh Stoney Creek battery energy storage project in Northern New South Wales, Australia. Once operational, the storage project is designed to deliver eight hours of dispatchable energy, supporting grid reliability and flexibility.

BRUC, a Spain-based solar and wind project developer, has renewed its corporate debt financing for up to €650 million (~$757.6 million). Schroders Capital, Infranity, Instituto de Crédito Oficial, BNP Paribas, Santander, and ING provided the financing, with Santander and ING also acting as green loan coordinators. The financing will support the company’s portfolio of solar and wind projects totaling 6,600 MW in the construction and commissioning stages, located across Spain. It will also enable the hybridization of its various operational projects through the addition of wind and battery storage systems.

Energy Vault, a utility-scale energy storage project developer, secured a $18 million project financing from Eagle Point Credit Management, a private credit investment manager. The funding will support the company’s 57 MW/114 MWh Cross Trails Battery Energy Storage project. Located in Texas, the grid-scale project reached full commercial operation in June 2025.

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.