From: Mercom Capital Group

Solar Landscape, a U.S.-based commercial rooftop solar developer, has secured a $600 million green-labeled senior debt warehouse facility to support its distributed solar project pipeline across the U.S. The financing comprises a $350 million three-year revolving construction warehouse and a $250 million delayed draw term loan facility with a five-year tenor. The facility is anchored by a 146 MW portfolio of community solar projects under construction and in late-stage development in Illinois, New Jersey, Maryland, and Minnesota.

Spanish clean energy producer Grenergy has closed a $268 million senior non-recourse financing agreement for the Monte Águila solar and energy storage project in Chile. The financing includes credit facilities and was led by BNP Paribas as the coordinating bank. KfW IPEX-Bank, Coöperatieve Rabobank, Natixis, and The Bank of Nova Scotia also participated in the transaction. The Monte Águila project has 342 MW of solar capacity and 1,034 MWh of energy storage.

Bluefield Solar (BSIF), the London-listed U.K. income fund focused primarily on acquiring and managing solar energy assets, has reached financial close on a debt raise of up to £120 million (~$163 million) term loan commitments to fund the construction of four solar projects in its development pipeline. The term loan facility comprises equal commitments from Santander and NatWest.

ESA Solar Energy, a solar and energy storage project developer, has sold the 150 MW Salzburg battery storage project in Michigan, U.S., to renewable energy company Ørsted. The companies did not disclose the transaction value. Ascend Analytics, a provider of market intelligence and analytics solutions for the power industry, served as the exclusive advisor to ESA on the transaction through the Ascend Energy Exchange.

Altea Green Power, an independent renewable power producer, has acquired 100% of the SPV NB5, a special-purpose vehicle that owns a 16.75 MW photovoltaic project in Montecchio Emilia, Reggio Emilia, Italy, from an undisclosed seller. The solar project has been operational since January 2024. The total purchase price of the transaction is approximately €17 million (~$19.8 million).

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

Read last week’s project finance brief.