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					</table><p><strong>From: <a href="https://mercomcapital.com/project-finance-brief-permanent-power-company-secures-600-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Permanent Power Company, an energy holding platform operating and developing solar and storage projects, has </strong><a href="https://mercomcapital.com/permanent-power-company-secures-600m-solar-storage-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> approximately $600 million</strong> in construction financing for its Grape solar and battery energy storage project in California. The financing package includes an approximately $372.3 million construction-to-term loan, an approximately $166.7 million tax credit transfer bridge loan, and an approximately $61.3 million letter of credit facility.<strong> </strong></p>
<p><strong>Equitix, an investor, developer, and long-term fund manager of infrastructure assets, has </strong><a href="https://mercomcapital.com/equitix-secures-573-million-for-hybrid-renewable-projects-in-spain/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €500 million (~$573 million)</strong> in project financing from UniCredit, an Italian multinational banking group headquartered in Milan. The financing is expected to support the construction of a portfolio of onshore wind farms and co-located solar photovoltaic projects across Spain. The projects are being developed under a framework agreement with Capital Energy.</p>
<p><strong>Nautilus Solar Energy, a U.S.-based community solar company, has </strong><a href="https://mercomcapital.com/nautilus-solar-renews-600-million-debt-facility-for-community-solar/" target="_blank" rel="noopener"><strong>renewed</strong></a><strong> its construction debt facility with a total commitment of $600 million</strong>. National Bank of Canada Capital Markets, Royal Bank of Canada, and Export Development Canada served as co-lead arrangers for the facility. National Bank of Canada also acted as sole bookrunner, administrative agent, issuing bank, and collateral agent. Fédération des Caisses Desjardins du Québec, Siemens Financial Services, The Huntington National Bank, and Sumitomo Mitsui Banking Corporation also participated as lenders in the facility.</p>
<p><strong>Chrysalis Renewables, a global renewables investment platform established by global infrastructure manager Morrison, has </strong><a href="https://mercomcapital.com/chrysalis-renewables-acquires-357-mw-solar-projects-in-us/" target="_blank" rel="noopener"><strong>acquired</strong></a> the Atlas V and Atlas VI solar projects in the U.S. from Hanwha Renewables, a utility-scale solar and energy storage developer. The Atlas V and Atlas VI solar projects have a combined capacity of approximately 357 MW. The projects are in the final stages of commissioning and are expected to reach commercial operation within the next few months.</p>
<p><strong>Rivington Energy, a developer and manager of renewable energy solutions, has </strong><a href="https://mercomcapital.com/schroders-greencoat-acquires-50-mw-yarnton-battery-storage-project-in-uk/" target="_blank" rel="noopener"><strong>sold</strong></a><strong> a battery energy storage project in Yarnton, Oxfordshire, in the U.K.</strong>, to funds managed by Schroders Greencoat. Schroders Greencoat is a renewables and energy transition infrastructure manager, and the acquisition was made through Wessex Gardens, its place-based and locally focused renewable infrastructure fund for Local Government Pension Scheme members.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid, sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s project finance <a href="https://mercomindia.com/project-finance-brief-cypress-creek-secures-3-5-billion" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Permanent Power Company Secures $600 Million


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					</table><p>Chrysalis Renewables, a global renewables investment platform established by global infrastructure manager <a href="https://morrisonglobal.com/" target="_blank" rel="noopener">Morrison</a>, has acquired the Atlas V and Atlas VI solar projects in the U.S. from <a href="https://hanwharenewables.com/" target="_blank" rel="noopener">Hanwha Renewables</a>, a utility-scale solar and energy storage developer.</p>
<p>The Atlas V and Atlas VI solar projects have a combined capacity of approximately 357 MW. The projects are in the final stages of commissioning and are expected to reach commercial operation within the next few months.</p>
<p>The projects form the first two phases of the Atlas Energy Park development in La Paz, Arizona. The announcement described Atlas Energy Park as one of the largest renewable energy developments in the U.S.</p>
<p>The transaction is the first under the strategic partnership between Chrysalis and Hanwha Renewables, announced in February of this year. Under the partnership, Chrysalis will acquire projects from Hanwha that meet the agreed investment criteria.</p>
<p>Hanwha will support the projects through its development, engineering, procurement, and construction, module supply, asset management, and operations and maintenance capabilities.</p>
<p>Morrison Partner, Gordon Hay, said, “The acquisition of the Atlas projects marks an important milestone for Chrysalis, increasing its generation capacity to approximately 700 MW while significantly expanding its regional footprint. The transaction also advances Chrysalis’ portfolio diversification strategy by adding a generation profile that complements its existing assets.”</p>
<p>The solar projects are contracted under 15-year busbar power purchase agreements with Southern California Edison. The power will be supplied to the California Independent System Operator market.</p>
<p>Both projects use domestically produced solar modules supplied by Qcells, a Hanwha Group subsidiary, from its manufacturing facility in Georgia. Qcells is also providing engineering, procurement, and construction services for the projects.</p>
<p>Under the partnership with Hanwha, Chrysalis will initially target more than 3.5 GW of solar and battery storage projects in North America. The companies may expand the asset portfolio and geographic reach to Japan, Australia, and Italy over time.</p>
<p>According to Mercom’s Q1 2026 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.</p>
<p>In 2026, Masdar (Abu Dhabi Future Energy Company PJSC), a UAE-based renewable energy developer, <a href="https://mercomcapital.com/masdar-buys-stake-respsols-705-mw-renewables-portfolio/" target="_blank" rel="noopener">signed</a> an agreement to acquire a 49.99% stake in Madrid-based energy and petrochemical company Repsol’s 705 MW operational renewable energy portfolio in Spain.</p>


Chrysalis Renewables Acquires 357 MW Solar Projects in US

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