Saudi Arabia Invites Bids for 5.3 GW Renewable Energy Projects

China Targets 180 GW of Energy Storage Capacity by 2027

Haryana Invites Bids to Procure Power from 500 MW Solar Projects

NTPC Green Commissions 100 MW of IRCON’s 500 MW Renewable Energy Project

Türkiye Announces 2 GW Renewable Energy Tenders

Policy Uncertainty a Barrier for Solar Open Access in Telangana

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INA Solar Commissions 4.5 GW Solar Module Plant in Rajasthan

APTEL Reduces Heavy Penalty on Delhi DISCOMs for RPO Non-Compliance

Financing Options for Rooftop and Open Access Solar Projects


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-scatec-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Scatec, a renewable energy solutions provider, </strong><a href="https://mercomcapital.com/scatec-secures-27-million-financing-for-142-mw-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> BRL 150 million (~$27 million) non-recourse project financing for the development of a 142 MW solar project</strong> in Minas Gerais, Brazil. The funding was provided by Banco de Nordeste do Brasil. The solar project is under construction and is expected to reach commercial operation in the first half of 2026. The financing package is 30% of the total estimated capital expenditure of BRL 506 million (~$91 million).</p>
<p><strong>NextPower V ESG, a fund of NextEnergy Capital, </strong><a href="https://mercomcapital.com/nextpower-v-esg-acquires-73-mw-solar-project-in-italy/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a 73 MW advanced agrivoltaic solar project in Campania, south-eastern Italy.</strong> Additionally, the project has been awarded a 20-year contract for difference from the GME DM Agrivoltaico Auction for 100% of its volume. With this acquisition, the fund has increased the committed capacity to date to 670 MW, of which about 220 MW capacity is fully operational and an additional 230 MW is due to reach commercial operations shortly.</p>
<p><strong>Energy Vault, a utility-scale energy storage project developer, </strong><a href="https://mercomcapital.com/energy-vault-acquires-125-mw-1-gwh-stoney-creek-storage-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it has received Foreign Investment Review Board approval and completed the full acquisition of the 125 MW/1,000 MWh Stoney Creek battery energy storage project</strong> in Northern New South Wales, Australia. Once operational, the storage project is designed to deliver eight hours of dispatchable energy, supporting grid reliability and flexibility.</p>
<p><strong>BRUC, a Spain-based solar and wind project developer, has </strong><a href="https://mercomcapital.com/bruc-secures-over-757m-for-6-6-gw-clean-energy-portfolio/" target="_blank" rel="noopener"><strong>renewed</strong></a><strong> its corporate debt financing for up to €650 million (~$757.6 million).</strong> Schroders Capital, Infranity, Instituto de Crédito Oficial, BNP Paribas, Santander, and ING provided the financing, with Santander and ING also acting as green loan coordinators. The financing will support the company’s portfolio of solar and wind projects totaling 6,600 MW in the construction and commissioning stages, located across Spain. It will also enable the hybridization of its various operational projects through the addition of wind and battery storage systems.</p>
<p><strong>Energy Vault, a utility-scale energy storage project developer, </strong><a href="https://mercomcapital.com/energy-vault-secures-18-million-project-financing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $18 million project financing from Eagle Point Credit Management</strong>, a private credit investment manager. The funding will support the company’s 57 MW/114 MWh Cross Trails Battery Energy Storage project. Located in Texas, the grid-scale project reached full commercial operation in June 2025.</p>
<p>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.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-dsd-renewables-distributed-projects/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Scatec Secures $27 Million Financing for 142 MW Solar Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-origis-secures-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Origis Energy, a vertically integrated renewable energy platform and solar project developer, </strong><a href="https://mercomcapital.com/origis-energy-secures-project-financing-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $136 million construction financing facility</strong> and conversion to a term loan with MUFG to develop a 75 MW Rice Creek Solar project in Florida. The project is currently under construction. The Rice Creek Solar, located in Putnam County, is a PV solar project contracted by the Florida Municipal Power Agency for its members.</p>
<p><strong>BRUC, a Spain-based renewable energy company that owns and operates solar and wind projects, </strong><a href="https://mercomcapital.com/bruc-secures-financing-of-solar-projects-in-spain/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €570 million (~$608.44 million) in financing</strong> for the construction of 842 MW of solar projects. The financing agreement was closed with Santander, ING, BNP Paribas, Crédit Agricole CIB, Sabadell, BBVA, and Unicaja. The financing is classified as a “green loan.” Banco Santander acted as financial advisor, hedge coordinator, and green loan coordinator.</p>
<p><strong>Nova Clean Energy, a solar and wind project developer, </strong><a href="https://www.businesswire.com/news/home/20240416489174/en/Nova-Clean-Energy-Closes-Acquisition-of-1-Gigawatt-Wind-and-Solar-Development-Asset-Portfolio-from-BNB-Renewables" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of HyFuels, a more than 1 GW portfolio of mid-to-late-stage wind and solar development projects</strong>, and an early-stage green ammonia project from BNB Renewable Energy. The project is located on the Texas Gulf Coast. The first phase of the project is expected to reach full notice to proceed in 2025 and Commercial Operations in 2026.</p>
<p><strong>Recurrent Energy, a solar project developer and a wholly-owned subsidiary of Canadian Solar, </strong><a href="https://mercomcapital.com/recurrent-energy-secures-financing-solar-project-brazil/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> 343 million Brazilian Reais (~$70 million) of non-recourse project financing</strong> from Banco do Nordeste do Brasil (BNB) for the Jaiba III solar project in Brazil. The Jaiba III project, with a total installed capacity of 152 MW, will be financed over 22 years, spanning both the construction and operation phases. The solar project will feature Canadian Solar’s BiHiKu modules. The project is currently under construction and is expected to be operational in Q4 2024.</p>
<p><strong>Avaada Energy has </strong><a href="https://www.mercomindia.com/avaada-refinancing-deal-solar-rajasthan" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a ₹44.71 billion (~$535.3 million) refinancing deal with the National Bank for Financing Infrastructure and Development (NaBFID) </strong>for four inter-state transmission system-connected solar projects with a combined capacity of 1.7 GW in Rajasthan. The financing from NaBFID, a specialized government-owned development finance institution, will enable the prepayment of existing loans and offer a successful exit to multiple lenders. The facility will be approved and disbursed as a 20-year rupee term loan facility.</p>
<p>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.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-arevon-secures-posey-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Origis Secures $136 Million for 75 MW Solar Project


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					</table><p>Madrid-based green energy group <a href="https://brucmanagementprojects.com/en/bruc-management-2/" target="_blank" rel="noopener">Bruc</a> has signed a financing agreement with seven prominent entities, securing €600 million (~$633.8 million), which will be utilized in developing and operating an 8.5 GW portfolio of solar and wind power projects in Spain.</p>
<p>The projects will be in various regions of Spain, including Aragón, Andalusia, Extremadura, Castilla-La Mancha, and Castilla y León. Additionally, the company said it is actively involved in the development of renewable energy storage projects.</p>
<p>The entities participating in this corporate financing initiative include <a href="https://www.santander.co.uk/" target="_blank" rel="noopener">Santander</a>, <a href="https://www.ing.com/Home.htm" target="_blank" rel="noopener">ING</a>, <a href="https://www.ico.es/" target="_blank" rel="noopener">Instituto de Crédito Oficial</a>, <a href="https://group.bnpparibas/en/" target="_blank" rel="noopener">BNP Paribas</a>, and <a href="https://group.intesasanpaolo.com/en/" target="_blank" rel="noopener">Intesa Sanpaolo</a>, who have taken on roles as bookrunners and mandated lead arrangers (MLAs).</p>
<p><a href="https://www.schroderscapital.com/en/global/professional/" target="_blank" rel="noopener">Schroders Capital</a> and <a href="https://infranity.com/" target="_blank" rel="noopener">Infranity</a> are participating as MLAs in the funding arrangement.</p>
<p>The financing deal, structured as &#8220;corporate sustainable financing,&#8221; has been shaped by a shared commitment to ESG principles, reflecting the increasing importance of environmental, social, and governance considerations.</p>
<p>Bruc&#8217;s journey towards becoming a key player in Spain&#8217;s renewable energy sector began when OPTrust and USS pension funds invested in the company&#8217;s capital in 2016 and 2021, respectively.</p>
<p>In June, Interogo Holding, through its infrastructure investment fund, Inter Infrastructure Capital, <a href="https://mercomcapital.com/interogo-holding-acquires-solar-project-portfolio/" target="_blank" rel="noopener">acquired</a> a 49% stake in a 1,066 MW portfolio of operational and under-construction solar photovoltaic generation assets within the Bruc group.</p>
<p>Juan Béjar, President of Bruc, emphasized the urgency of accelerating the energy transition and stressed the importance of a stable regulatory environment and robust transportation infrastructure. He said these factors are essential to harness Spain&#8217;s natural resources, reduce reliance on primary energies, and offer competitive energy prices to industries and consumers.</p>
<p>In December 2022, Bruc <a href="https://www.mercomindia.com/spains-bruc-acquires-six-solar-mw-capacity-from-opdenergy" target="_blank" rel="noopener">acquired</a> six new solar photovoltaic power projects with a cumulative capacity of 384 MW from independent renewable energy producer Opdenergy.</p>


Green Energy Group Bruc Secures €600 Million for Portfolio Expansion in Spain


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					</table><p>Spain-based renewable energy group <a href="https://brucmanagementprojects.com/en/bruc-management-2/" target="_blank" rel="noopener">Bruc</a> has acquired six new solar photovoltaic power projects with a cumulative capacity of 384 MW from independent renewable energy producer <a href="https://opdenergy.com/en/" target="_blank" rel="noopener">Opdenergy</a>.</p>
<p>The assets are part of the 1,101 MW portfolio <a href="https://mercomindia.com/project-finance-brief-opdenergy-spanish-portfolio/" target="_blank" rel="noopener">agreed</a> upon between the two companies in August 2021 for the sale and purchase of 20 solar photovoltaic power generation plants.</p>
<p>Bruc has acquired projects located in the provinces of Cádiz (116 MW), Zaragoza (60 MW), Teruel (114 MW), and Palencia (94 MW) in Spain.</p>
<p>With the delivery of the six plants, Opdenergy has transferred a total of 662 MW.</p>
<p>The 384 MW solar projects are in addition to the 278 MW capacity which have already been handed over to Bruc recently. These assets are located in the provinces of Seville, Soria, and Zaragoza.</p>
<p>The remaining projects of 439 MW capacity is under development.</p>
<p>Bruc currently owns 8,600 MW with access rights to the transmission grid, of which 1,100 MW are either already operational or at an advanced stage of construction.</p>
<p>The company said it believes that an energy transition towards a decarbonized economy is urgently required, and part of this transition relies on the development of clean energies.</p>
<p>The company’s mission is to generate attractive investment opportunities in the field of renewable energies with the aim of contributing to the sustainability of energy supply systems and substantially reducing their environmental impact.</p>
<p>Opdenergy is an independent renewable energy producer in Europe, the United States, and Latin America.</p>
<p>The company develops, finances, and operates high-quality renewable energy projects in several countries and works towards the decarbonization of energy in the different countries in which it operates.</p>
<p>Opdenergy has a portfolio of 1.8 GW of assets in operation and under construction. It has an additional portfolio of 12 GW of projects in different stages of development.</p>
<p>In July, Opdenergy <a href="https://mercomcapital.com/opdenergy-secures-financing-solar-projects-spain/" target="_blank" rel="noopener">signed</a> a green financing agreement of €350 million (~$356.4 million) with BBVA and the European Investment Bank for the construction and commissioning of 605 MW of a solar PV portfolio located in Spain.</p>


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