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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ampyr-secures-project-finance-facility/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>AMPYR Solar Europe, an independent solar power producer, has </strong><a href="https://mercomcapital.com/ampyr-solar-europe-secures-project-finance-facility/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a €200 million (~$215 million) project finance facility with Rabobank</strong> to construct and operate 350 MW of solar photovoltaic projects across Europe. The facility will be drawn immediately to finance three solar photovoltaic assets in the Netherlands, with more to follow later this year.</p>
<p><strong>Spearmint Energy, a green energy trading and development company, <a href="https://mercomcapital.com/spearmint-energy-secures-bess-storage-projects-texas/" target="_blank" rel="noopener">closed</a> a $200 million credit facility</strong> <strong>with Aiga Capital Partners, an investment management firm.</strong> The term loan will support the development of Spearmint’s 1.2 GW / 2.4 GWh portfolio of battery energy storage system assets in Texas’ ERCOT power market and continued expansion of the Company’s innovative, utility-scale storage portfolio across the U.S.</p>
<p><strong>Spain-based independent power producer Iberdrola and the European Investment Bank have signed a </strong><a href="https://mercomcapital.com/iberdrola-secures-eib-renewable-energy-projects/" target="_blank" rel="noopener"><strong>loan</strong></a><strong> agreement worth €1 billion (~$1.07 billion)</strong> to bolster the energy transition in Europe by building 22 renewable energy projects with an installed capacity of 2.2 GW. The loan will help co-finance the construction of 19 solar power projects and three onshore wind farms in Spain, Portugal, and Germany.</p>
<p><strong>The AES Corporation, a U.S.-based utility and power generation company, has </strong><a href="https://mercomcapital.com/aes-andes-acquires-bolero-solar-project-chile/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> ownership of the Bellefield solar-plus-storage project</strong> with a capacity of 2 GW in the United States. Located in Kern County, California, the project comprises two phases, each of 500 MW of solar capacity and up to 500 MW of four-hour duration battery energy storage.</p>
<p><strong>Q Energy, a solar, wind, and storage project developer, </strong><a href="https://mercomcapital.com/q-energy-sells-solar-project-portfolio-spain/" target="_blank" rel="noopener"><strong>sold</strong></a><strong> a 76 MW solar project portfolio in Spain. The portfolio consists of two solar projects, around 38 MW each, in the Spanish province of Ciudad</strong> <strong>Real.</strong> The projects are ready to build and are expected to be connected to the grid by 2024. Q ENERGY will install more than 138,00 high-performance solar modules on trackers to maximize the system’s energy yields.</p>
<p><strong>AES Andes, an electric utility company, has </strong><a href="https://mercomcapital.com/aes-andes-acquires-bolero-solar-project-chile/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 146 MW solar project in Chile from EDF Renewables Chile and Marubeni Corporation</strong>. The Bolero solar project is located in the municipality of Sierra Gorda, in the Atacama Desert, in the region of Antofagasta. The photovoltaic project has an installed capacity of 146 MW over 518 hectares. The photovoltaic park is divided into two sections: Bolero Este and Bolero Oeste, with an installed capacity of 60 MWp and 86 MWp, respectively.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week’s project finance <a href="https://www.mercomindia.com/project-finance-brief-solek-closes-379-million-for-solar-projects" target="_blank" rel="noopener">brief</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Project Finance Brief: AMPYR Secures $215 Million Project Finance Facility


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					</table><p><strong><a href="https://www.mercomindia.com/solar-open-access-installations-surge-68-q1-2023" target="_blank" rel="noopener">India added 518 MW of solar open access in the first quarter (Q1) of the calendar year 2023, marking a remarkable increase of more than 68% compared to the 308 MW installed in Q4 2022.</a></strong> However, on a year-over-year basis, the installations declined by 37%. The numbers were revealed in the recently published <a href="https://www.mercomindia.com/product/q1-2023-mercom-india-solar-open-access-market-report-518-mw-installed" target="_blank" rel="noopener">Q1 2023 Mercom India Solar Open Access Market Report</a>.</p>
<p><a href="https://www.mercomindia.com/punjab-procure-power-200-mw-solar" target="_blank" rel="noopener"><strong>Punjab State Power Corporation has invited bids to procure power from 200 MW solar projects with a minimum capacity of 5 MW each, located in Punjab, through e-bidding under the Swiss Challenge method.</strong></a> The last day to submit the bids is June 30, 2023. Bids will be opened on July 4. Bidders must submit a non-refundable processing fee of ₹300,000 (~$3,633) and an earnest money deposit of ₹400,000 (~$4,844)/MW. They should also remit ₹100,000 (~$1,211) as a bidding fee for the Swiss Challenge.</p>
<p><a href="https://www.mercomindia.com/mnre-mechanism-disputes-agreements" target="_blank" rel="noopener"><strong>The Ministry of New &amp; Renewable Energy has established a dispute resolution mechanism to handle unforeseen disputes between renewable energy power developers/ Engineering, procurement, and construction contractors, and implementing agencies.</strong></a> The revised mechanism prioritizes transparency, impartiality, and independence by forming a three-member Dispute Resolution Committee comprising individuals with impeccable integrity.</p>
<p><a href="https://www.mercomindia.com/karnataka-proposes-changes-open-access" target="_blank" rel="noopener"><strong>The Karnataka Electricity Regulatory Commission has released the draft of the Karnataka Electricity Regulatory Commission (Terms and Conditions for Open Access) (Fifth Amendment) Regulations, 2023.</strong></a> These proposed amendments aim to align with Karnataka’s draft Green Energy Open Access Regulations released last August. Stakeholders can submit their comments and suggestions within 30 days.</p>
<p><a href="https://www.mercomindia.com/in-best-quarter-ever-for-grow-47-yoy-to-6-1-gw" target="_blank" rel="noopener"><strong>Solar installations in the United States grew 47% year-over-year to 6.1 GW during the first quarter of 2023, recording the best initial quarter for the country’s solar sector in terms of new installations.</strong></a> According to U.S. Solar Market Insight Q2 2023, released jointly by the Solar Energy Industries Association and Wood Mackenzie, the growth in installations was significantly driven by a higher demand created through the Inflation Reduction Act and increased utility-scale solar installations.</p>
<p><a href="https://www.mercomindia.com/masdar-lowest-bid-al-maktoum-solar-park" target="_blank" rel="noopener"><strong>Abu Dhabi-based renewable energy project developer Masdar submitted the lowest bid of $1.62/kWh under the independent power producer model for the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park</strong></a> in Dubai with a capacity of 1.8 GW. Dubai Electricity and Water Authority received two bids from ACWA Power and Masdar. The project is scheduled to begin operations in stages starting in the fourth quarter of 2024.</p>
<p><a href="https://www.mercomindia.com/faster-deployment-renewable-energy-must-climate-change-goals" target="_blank" rel="noopener"><strong>To achieve universal access to affordable, reliable, and sustainable energy and achieve climate change goals, there is a need for accelerated deployment of renewable energy in the electricity, heat, and transportation sectors,</strong></a> according to the ‘Tracking Sustainable Development Goal (SDG)7-The Energy Progress Report 2023’ published jointly by the International Energy Agency, the International Renewable Energy Agency, the United Nations Statistics Division, the World Bank, and the World Health Organization.</p>
<p><a href="https://www.mercomindia.com/power-utility-aes-2-gw-solar-plus-storage-in-us" target="_blank" rel="noopener"><strong>The AES Corporation acquired ownership of the Bellefield solar-plus-storage project with a capacity of 2 GW in the United States. Located in Kern County, California,</strong></a> the project comprises two phases, each of 500 MW of solar capacity and up to 500 MW of four-hour duration battery energy storage. The first phase of the Bellefield project has secured a 15-year power purchase agreement to deliver hourly, carbon-free energy to an existing AES corporate client. The company plans to contract an additional 1 GW of solar-plus-storage in the project’s second phase by the end of 2023.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/mercom-staff/" class="vcard author" rel="author"><span class="fn">Mercom Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Daily News Wrap-Up: India Adds 518 MW of Solar Open Access in Q1


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					</table><p>The AES Corporation (<a href="https://www.aes.com/" target="_blank" rel="noopener">AES</a>), a U.S.-based utility and power generation company, has acquired ownership of the Bellefield solar-plus-storage project with a capacity of 2 GW in the United States.</p>
<p>Located in Kern County, California, the project comprises two phases, each of 500 MW of solar capacity and up to 500 MW of four-hour duration battery energy storage.</p>
<p>The first phase of the Bellefield project has secured a 15-year power purchase agreement (PPA) to deliver hourly, carbon-free energy to an existing AES corporate client. The company plans to contract an additional 1 GW of solar-plus-storage in the project&#8217;s second phase by the end of 2023.</p>
<p><a href="https://avantus.com/" target="_blank" rel="noopener">Avantus</a>, the developer behind both phases, expects phase one to go live in 2025 and phase two in 2026.</p>
<p>Andrés Gluski, AES President and Chief Executive Officer said the addition of Bellefield phase one expands AES&#8217; signed PPA backlog to over 12 GW, representing an 80% growth from its current installed renewable generation fleet.</p>
<p>AES has an installed renewable capacity of 15 GW and a backlog of 12 GW in projects with signed long-term contracts, including the Bellefield project&#8217;s first phase. It also has a robust global pipeline of 61 GW.</p>
<p>By acquiring Bellefield, AES will contribute to California&#8217;s goal of achieving 100% carbon-free energy by 2045.</p>
<p>Alberta Investment Management Corporation (<a href="https://www.aimco.ca/" target="_blank" rel="noopener">AIMCo</a>) holds a 25% ownership stake in AES&#8217; clean energy business in the U.S., specifically focusing on the business&#8217; growth projects.</p>
<p>Last December, U.S.-based industrial gases supplier Air Products and AES Corporation <a href="https://www.mercomindia.com/green-hydrogen-worth-4-billion-in-texas" target="_blank" rel="noopener">announced</a> they would invest $4 billion in a green hydrogen production facility in Wilbarger County, Texas.</p>
<p>Earlier last year, AES and three other independent power producers <a href="https://www.mercomindia.com/developers-consortium-to-buy-over-6-gw-of-modules-annually" target="_blank" rel="noopener">formed</a> a consortium to bolster the country’s rapid scaling of domestic solar manufacturing. They plan to spend over $6 billion on solar modules to support the expansion of the domestic supply chain.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Power Utility AES Corporation Acquires 2 GW Solar Plus Storage Project in US

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