Project Finance Brief: Sol Systems Acquires 190 MW Solar Project in Texas
Cubico acquires 1 GW solar photovoltaic project in Brazil
January 25, 2023
From: Mercom Capital Group
Sol Systems, a solar finance and development company, acquired a 190 MW solar development project in Uvalde County, Texas, from ABEI Energy, an independent power producer. The acquisition was a part of Sol Systems’ infrastructure plus impact business expansion, and the company will construct, own, and operate the project. ABEI Energy will continue to support Sol Systems during pre-construction development.
Renewable energy company Cubico Sustainable Investments has acquired Project Sobral — a 1 GW solar photovoltaic (PV) project in Brazil — from ZEG Energias Renováveis (ZEG). It is one of the largest solar development projects in the country and is expected to generate more than 2,000 GWh per year, which can power approximately a million Brazilian homes.
Duke Energy Sustainable Solutions (DESS), a subsidiary of Duke Energy, an wind and solar projects operator, acquired a 175 MW Pike Solar Project in Colorado from JUWI, a Germany-headquartered solar project developer. Under the terms of the acquisition, JUWI would be responsible for the project’s engineering, procurement, and construction, and DESS for the procuring of solar modules for the project. In addition, both companies will have operation and maintenance responsibilities.
Lightsource bp, a global utility-scale solar project developer, announced closing a tax equity investment from Wells Fargo and Company for a 481 MW solar project portfolio in the U.S. The investment of $267 million will support the construction and operation of the two-project portfolio across two states in the U.S. The financing leverages the Production Tax Credit structure as a tax equity investment was made available for solar in the Inflation Reduction Act of 2022.
Innergex Renewable Energy, an independent renewable power producer, and a renewable energy project developer, acquired 60 MW Sault Ste. Marie solar portfolio in Ontario from Fengate Asset Management for a purchase price of $50.2 million, along with the assumption of $169.5 million in existing debt. The Sault Ste. Marie 1, 2, and 3 facilities were commissioned between 2010 and 2011.
Click here for reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors,
Read last week’s project finance brief.
Staff
More articles from Staff.
RELATED POSTS
Maharashtra Approves Tariffs for 8.7 MW of Solar Power Under KUSUM Program
Brookfield to Aquire KKR’s 50% Stake in Renewable Developer X-Elio
NTPC’s Subsidiary Will Develop Renewable Projects for IndianOil Refineries
Get the most relevant India solar and clean energy news.
RECENT POSTS
LATEST HEADLINES
Maharashtra Approves Tariffs for 8.7 MW of Solar Power Under KUSUM Program
Mar 21, 2023
Brookfield to Aquire KKR’s 50% Stake in Renewable Developer X-Elio
Mar 21, 2023
NTPC’s Subsidiary Will Develop Renewable Projects for IndianOil Refineries
Mar 21, 2023
Constant Climate-Centric Funding Can Limit Global Temperature Under 1.5°C
Mar 21, 2023
India Voices Concern over Europe’s Carbon Tariff Measure at WTO
Mar 21, 2023
India added 2.5 GW of solar open access in the calendar year (CY) 2022, a year-over-year (YoY) increase of 92% from the 1.3 GW installed in CY 2021, according to the newly released 2022 Q4 & Annual Mercom India Solar Open Acce...
March 15, 2023
Solar
Kerala Issues Empanelment Tender for 100 MW of Solar ProjectsThe Kerala State Electricity Board (KSEB) has invited bids to empanel solar developers to set up 100 MW of grid-connected rooftop and ground-mounted projects. Empanelled vendors also must furnish operation and maintenance (O&M...
March 20, 2023
Tenders and Auctions
Gujarat Invites Bids to Procure 500 MW of Wind Power with Greenshoe OptionGujarat Urja Vikas Nigam (GUVNL) has invited bids to procure power from 500 MW of grid-connected wind projects (Phase V) with a greenshoe option of an additional capacity of up to 500 MW. The last day to submit the bids online is ...
March 17, 2023
Rooftop
MSMEs Adopt Solar Readily If Savings on Power Bills Cover EMI Cost: InterviewSmall businesses are open to adopting rooftop solar if loan repayment is not an additional burden and is equal to their savings on electricity bills. Entities in the commercial and industrial (C&I) segment are increasingly mov...
March 17, 2023
Trending News
Tender & Auctions
Indian Oil Floats O&M Tender for 8 MW Solar Project in Ahmedabad
March 14, 2023
Technology
Researchers Find Solution to Manage Load in Solar PV & Storage Systems
February 28, 2023
February 27, 2023
February 24, 2023
January 17, 2023
Magazine
Grid
Sterlite Bags ISTS Project to Evacuate 20 GW of Renewables in Rajasthan
March 13, 2023
Latest News
The Maharashtra Electricity Regulatory Commission (MERC) has adopted tariffs of ₹3.28 (~$0.039)/kWh, ₹3.29 (~$0.039)/kWh, and ₹3.30 (~$0.040)/kWh for the procurement of 8.7 MW of solar power on a long-term basis. The Commission...
March 21, 2023
Global investment firm Kohlberg Kravis Roberts (KKR) has agreed to sell 50% of its stake in renewable developer X-ELIO to its joint venture partner Brookfield Renewable. Financial details were not disclosed. Since KKR’s...
March 21, 2023
NTPC Limited’s wholly owned subsidiary, NGEL, has entered into a joint venture agreement with Indian Oil Corporation (IOCL) to develop renewable energy projects that can meet round-the-clock power requirements to meet the...
March 21, 2023
Financial support from developed economies to developing nations which is a critical enabler of climate action has been inadequate, said scientists in the latest Intergovernmental Panel on Climate Change (IPCC) report...
March 21, 2023
India has expressed concern about the carbon border measures proposed by the European Union (EU) at a recent meeting of the World Trade Organization’s (WTO) Committee on Trade and Environment. Presenting a paper on the increasing...
March 21, 2023
JSW Neo Energy (JSW Energy) and Greenko KA 01 IREP (Greenko) have won the Power Company of Karnataka’s (PCKL) auction to supply 1 GW of energy for 8 hours daily from pumped hydro storage projects providing continuous 5-hour...
March 21, 2023
Sterling and Wilson Renewable Energy, the solar engineering, procurement, and construction (EPC) arm of Shapoorji Pallonji Group, won NTPC’s tender for the balance of system (BOS) package to develop 1.2 GW (4*300 MW) of solar...
March 21, 2023
Indian Oil Corporation (IOCL) has invited bids for the operation and maintenance (O&M) of an existing 8 MW solar power project at the LPG bottling plant at Sanand in Ahmedabad for five years. The last date to submit the bids...
March 21, 2023
Researchers at the Indian Institute of Technology Mandi (IIT Mandi) have claimed a breakthrough in producing metal oxide layers for use in advanced architecture silicon solar cells using a cost-effective method. This innovative...
March 21, 2023
The government has allowed NTPC to invest in its subsidiary, NTPC Green Energy (NGEL), beyond the limit allowed for a ‘maharatna’ central public sector enterprise (CPSE). The extant guidelines prescribe a ceiling of 30% of a...
March 21, 2023
Get the most relevant India solar and clean energy news.
POPULAR POSTS
Maharashtra Approves Tariffs for 8.7 MW of Solar Power Under KUSUM Program
Mar 21, 2023
Brookfield to Aquire KKR’s 50% Stake in Renewable Developer X-Elio
Mar 21, 2023
NTPC’s Subsidiary Will Develop Renewable Projects for IndianOil Refineries
Mar 21, 2023
Constant Climate-Centric Funding Can Limit Global Temperature Under 1.5°C
Mar 21, 2023
India Voices Concern over Europe’s Carbon Tariff Measure at WTO
Mar 21, 2023
JSW and Greenko Win Karnataka’s Bid for 1 GW of Pumped Storage Projects
Mar 21, 2023
Sterling and Wilson Bags BoS Package Tender for 1.2 GW Solar Projects
Mar 21, 2023
