Explainer: Application Process for ALMM Inclusion and Renewal

EU Member States Sign Solar Charter to Boost Domestic Manufacturing

Daily News Wrap-Up: NTPC’s 1 GW Wind-Solar Hybrid Auction

Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023

Funding and M&A Roundup: Nexamp Secures $520 Million

Project Finance Brief: Arevon Secures $352 Million for Posey Solar Project

Indian Oil Issues Empanelment Tender for Solar Power Projects

<p>From: <a href="https://mercomcapital.com/project-finance-brief-altus-power-solar-funding/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Altus Power, a clean energy firm, has </strong><a href="https://altuspower.com/altus-power-inc-a-market-leading-clean-electrification-company-announces-the-completion-of-a-42-million-tax-equity-structure-supporting-the-energization-of-several-solar-projects-in-minnesota-and/" target="_blank" rel="noopener"><strong>completed</strong></a><strong> a sale leaseback tax equity financing worth </strong><strong>€36.2 million (~$42 million) for several unspecified solar projects in Minnesota and Massachusetts. </strong>Fifth Third Bank, National Association, has been a financing partner of Altus Power. The funding relationship with Fifth Third Bank led to an additional opportunity to partner on this sale leaseback financing transaction, which helped to fund projects across Minnesota and Massachusetts.</p>
<p><strong>Arevon, a renewable energy company, has </strong><a href="https://tinyurl.com/mercomaave" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> from RAI Energy International and Apex Energy Solutions the Vikings Energy Project, a solar-plus-storage power plant under development. </strong>The Vikings Energy project is among the first solar peaker plants in the U.S. The facility’s 1:1 configuration – 150 MW of solar, coupled with 150 MW/600 MWh of battery energy storage – will allow it to shift daytime solar production to late afternoon and evening hours, providing on-peak energy whenever necessary.</p>
<p><strong>ILI Group has </strong><a href="https://tinyurl.com/mercomeelp" target="_blank" rel="noopener"><strong>sold</strong></a><strong> the 50 MW Fordtown battery storage project in Kintore, Aberdeenshire, to Eelpower</strong> <strong>for an undisclosed price.</strong> The transaction increases ILI’s developed and funded battery projects to 200 MW, with a further 800 MW being prepared for the market over 2021-2022.</p>
<p><strong>ERG, through its subsidiaries ERG Eolienne France SAS and ERG Windpark Beteiligungs, has </strong><a href="https://www.erg.eu/c/document_library/get_file?uuid=8119d621-ffb5-41ac-fd63-5566fe07e81c&amp;groupId=10181&amp;version=1.0" target="_blank" rel="noopener"><strong>signed</strong></a><strong> two agreements with NAEV Austria Beteiligungs and NAEV Austria &amp; co. OG to acquire 100 % of the capital</strong> of 15 companies that own a 152.4 MW renewable portfolio in France and Germany. A German pension fund owns the sellers, and the assets are managed by KGAL through a Separately Managed Account (SMA). The portfolio consists of seven solar PV and three wind projects in France for a total installed capacity of 56.7 and 40.6 MW, respectively, and five wind projects in Germany for a total of 55.1 MW. The transaction value in terms of enterprise value is €202 million (~$234 million) (with an expected net financial position of €48 million (~$55 million) at closing).</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>
<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: Altus Power Closes €36.2 Million Sale Leaseback Solar Funding

arevon

Get the most relevant India solar and clean energy news.

RECENT POSTS