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Lynher Energy, a joint venture between Napier Park Global Capital, an alternative asset manager, and Ethical Power, an integrated renewable energy solutions provider, <a href="https://cms.mercomindia.com/lynher-energy-secures-twitch-hill-solar-project/" target="_blank" rel="noopener">secured</a> a bank facility of £52.7 million (~$66.85 million), comprising development and term loans. The first use of the facility is to help finance the construction of the 26.1 MW Twitch Hill Solar project, which Lynher Energy acquired in March 2023.
Greenbacker Renewable Energy Company, an investment manager and independent power producer, through its wholly-owned subsidiary, has <a href="https://cms.mercomindia.com/greenbacker-acquires-of-solar-projects-in-colorado/" target="_blank" rel="noopener">acquired</a> three solar power projects totaling 12 MWdc in Colorado from One Energy, a solar and energy storage project developer. The acquisition comprises the Rocky Ford (2.6 MWdc), Totten (2.8 MWdc), and Montezuma (6.5 MWdc) solar power projects, all slated to enter commercial operation in mid-2023.
BESS Power, a utility-scale energy storage project developer, <a href="https://cms.mercomindia.com/bess-power-secures-financing-develop-project-pipeline/" target="_blank" rel="noopener">secured</a> a project debt financing facility of up to $15 million from Leyline Renewable Capital to accelerate the development of its 2.4 GW of utility-scale standalone energy storage pipeline over the next four years.
Ameresco, an energy efficiency and renewable energy company, <a href="https://www.ameresco.com/ameresco-secures-300m-development-and-construction-loan-and-extends-maturity-of-senior-secured-credit-facility-term-loan/" target="_blank" rel="noopener">announced</a> the closing of a $300 million senior secured loan facility from HASI, an investment firm, to develop and construct clean energy assets. Ameresco has also entered into an amendment to the company’s current senior secured credit facility with a group of lenders led by Bank of America. This amendment adjusts the payment schedule for the Delayed Draw Term Loan A, with final maturity extended to mid-December 2023.
Fourth Partner Energy has entered into an <a href="https://www.mercomindia.com/adb-loan-fourth-partner-energys-open-access-project" target="_blank" rel="noopener">agreement</a> with the Asian Development Bank to secure a long-term loan of up to ₹1.2 billion (~$14.7 million) for constructing and operating a 25 MW solar open access project in the Tirunelveli district of Tamil Nadu. The project will supply clean and cost-effective solar energy to Fourth Partner Energy’s various commercial and industrial clients and is projected to yield approximately 50.7 GWh of electricity annually.
Click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-atmos-renewables-acquires-karadoc-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Lynher Energy Secures $67 Million for Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-lynher-energy-secures-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Lynher Energy, a joint venture between Napier Park Global Capital, an alternative asset manager, and Ethical Power, an integrated renewable energy solutions provider, <a href="https://mercomcapital.com/lynher-energy-secures-twitch-hill-solar-project/" target="_blank" rel="noopener">secured</a> a bank facility of £52.7 million (~$66.85 million), comprising development and term loans. The first use of the facility is to help finance the construction of the 26.1 MW Twitch Hill Solar project, which Lynher Energy acquired in March 2023.
Greenbacker Renewable Energy Company, an investment manager and independent power producer, through its wholly-owned subsidiary, has <a href="https://mercomcapital.com/greenbacker-acquires-of-solar-projects-in-colorado/" target="_blank" rel="noopener">acquired</a> three solar power projects totaling 12 MWdc in Colorado from One Energy, a solar and energy storage project developer. The acquisition comprises the Rocky Ford (2.6 MWdc), Totten (2.8 MWdc), and Montezuma (6.5 MWdc) solar power projects, all slated to enter commercial operation in mid-2023.
BESS Power, a utility-scale energy storage project developer, <a href="https://mercomcapital.com/bess-power-secures-financing-develop-project-pipeline/" target="_blank" rel="noopener">secured</a> a project debt financing facility of up to $15 million from Leyline Renewable Capital to accelerate the development of its 2.4 GW of utility-scale standalone energy storage pipeline over the next four years.
Ameresco, an energy efficiency and renewable energy company, <a href="https://www.ameresco.com/ameresco-secures-300m-development-and-construction-loan-and-extends-maturity-of-senior-secured-credit-facility-term-loan/" target="_blank" rel="noopener">announced</a> the closing of a $300 million senior secured loan facility from HASI, an investment firm, to develop and construct clean energy assets. Ameresco has also entered into an amendment to the company’s current senior secured credit facility with a group of lenders led by Bank of America. This amendment adjusts the payment schedule for the Delayed Draw Term Loan A, with final maturity extended to mid-December 2023.
Fourth Partner Energy has entered into an <a href="https://www.mercomindia.com/adb-loan-fourth-partner-energys-open-access-project" target="_blank" rel="noopener">agreement</a> with the Asian Development Bank to secure a long-term loan of up to ₹1.2 billion (~$14.7 million) for constructing and operating a 25 MW solar open access project in the Tirunelveli district of Tamil Nadu. The project will supply clean and cost-effective solar energy to Fourth Partner Energy’s various commercial and industrial clients and is projected to yield approximately 50.7 GWh of electricity annually.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-atmos-renewables-acquires-karadoc-solar-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.besspowercorp.com/" target="_blank" rel="noopener">BESS Power</a>, a utility-scale energy storage project developer, secured a project debt financing facility of up to $15 million from Leyline Renewable Capital to accelerate the development of its 2.4 GW of utility-scale standalone energy storage pipeline over the next four years.
To commemorate this long-term partnership, Leyline&#8217;s non-dilutive loan will enable the progression of BESS Power&#8217;s flagship project, Lund Storage Center., in addition to expediting the development process for projects in Texas, Arizona, Tennessee, and New Mexico, amongst others.
&#8220;Having the Leyline team share our vision of highly optimized energy storage solutions for a resilient grid is an exciting step in our journey. With BESS Power&#8217;s requisite technical expertise and experience in greenfield development, supplemented by Leyline&#8217;s longstanding financial capabilities and market knowledge, I am confident we will achieve our target goal and beyond. This transaction further strengthens our mission to drive growth in the sustainability sector and gives confidence to the company stakeholders with regard to our financial position in the market.&#8221; said Pandelis Vassilakakis, CEO of BESS Power.
&#8220;We are honored to support BESS Power&#8217;s growth. The team brings a sophisticated understanding of the greenfield development process, knowledge of nascent standalone storage markets, and a mission to provide renewable energy assets that align with Leyline&#8217;s mission,&#8221; said Joshua Schaff, Senior Managing Director at Leyline.
According to Mercom&#8217;s 1H and Q2 2023 Energy Storage and Smart Grid <a href="https://cms.mercomindia.com/product/1h-q2-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a>, 17 Energy Storage project funding deals were announced in 1H 2023, bringing in a combined $4.1 billion compared to $3.8 billion in 16 deals in 1H 2022.
Broad Reach Power, a utility-scale battery storage project developer, <a href="https://cms.mercomindia.com/broad-reach-power-secures-bess-projects/" target="_blank" rel="noopener">recently</a> secured $435 million in credit facilities to support the construction of 7 standalone energy storage projects totaling 880 MW in Texas and California. The Battery Energy Storage System (BESS) projects are currently under construction, with expected commercial operation dates ranging from late 2023 through Q1 2024. The projects include 825 MW in ERCOT and 55 MW in CAISO.

BESS Power Secures $15 Million Financing to Develop Project Pipeline

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