Project Finance Brief: Voltalia Secures $32 Million for 140 MW Solar Project
ACWA Power secures $123 million financing for a solar project in Egypt
From: Mercom Capital Group
Voltalia, a renewable energy project developer, secured €29 million (~$32 million) in debt financing for the construction of a 140 MW of solar project in Albania from the European Bank for Reconstruction and Development (EBRD). The EBRD is anchoring the €99 million (~$109.30 million) financing structure required to implement the project and is mobilizing significant and innovative commercial debt participation. The project’s total cost of €135 million (~$149 million) is co-financed by the International Finance Corporation, Intesa Sanpaolo Bank Albania, Privredna Banka Zagreb, and Voltalia’s resources.
ACWA Power, a developer, owner, and operator of power generation projects, has signed a $123 million financing package to develop a 200 MW Kom Ombo solar project in Egypt. European Bank for Reconstruction and Development led the financing with participation from OPEC Fund for International Development, African Development Bank, AfDB’s Sustainable Energy Fund for Africa, Green Climate Fund, Arab Petroleum Investments Corporation, and Arab Bank.
Downing Renewables and Infrastructure Trust, a London-based investment firm, acquired a portfolio of two operational solar photovoltaic projects of 13 MW in the UK for £12.6 million (~$15.7 million). The transaction includes two ground-mounted solar projects and about 1,600 commercial and residential installations with secured feed-in tariffs and renewable obligation certificate subsidies.
Ingrid Capacity, an energy storage project developer, secured SEK1 billion (~$96.7 million) funding from BW Energy Storage Systems, a battery storage subsidiary of BW Group. The funding will be used for the execution of a 400 MW pipeline of battery energy storage system projects, as well as to support the company’s growth.
Encavis, a solar project developer, acquired two ready-to-build solar projects in Italy totaling 93 MW. The Montalto di Castro solar park will have a generation capacity of 55 MW, and the Montefiascone solar park will have a generation capacity of 38 MW.
For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.
Read last week’s project finance brief.