From: Mercom Capital Group

Serengeti Energy, an independent renewable power producer, closed $26 million in project financing from a syndicate of lenders for the development of the 32 MWp Ilute solar project located in Western Zambia. The financing is led by the Dutch entrepreneurial development bank, alongside the Sustainable Energy Fund for Africa, managed by the African Development Bank, Triodos Investment Management, and EDFI Management Company, through the EU-funded Electrification Financing Initiative.

Tauron Polska Energia, an energy utility company, secured a PLN 268.7 million (~$74 million) loan from Bank Gospodarstwa Krajowego (BGK) under the National Recovery and Resilience Plan (NPR). The financing will be used to construct two solar projects with a combined capacity of 120 MW, located in Mysłowice and Ogrodzieniec, Poland, along with the accompanying infrastructure.

Independent power producer Juniper Green Energy has secured ₹20.39 billion (~$245.7 million) in debt financing from a consortium of domestic and global financial institutions to fund the development of its upcoming renewable energy projects. The financing has been secured from the National Bank for Financing Infrastructure and Development, HSBC Bank, DBS Bank India, Barclays Bank, and Aseem Infrastructure Finance.

Inox Neo Energies, the independent power producer arm of Inox Clean Energy, has acquired around 300 MW of operational solar projects from SunSource Energy. Inox Neo is also in the process of acquiring an estimated 50 MW of solar projects pending approvals from SunSource Energy. The projects are located across 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra. They are being operated under various special-purpose vehicles that sell power under long-term arrangements to multiple commercial and industrial companies.

PowerBank Corporation, a North American clean energy company focused on developing, owning, and operating solar power, energy storage, and hybrid renewable energy assets, announced that it and its subsidiaries have entered into an $8 million loan agreement with NY Green Bank. The loan agreement consists of a revolving credit facility with an initial principal amount of up to $8 million. The funding will be used to cover interconnection deposits for an initial portfolio of 50 MW of distributed solar power and battery energy storage projects in New York.

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.