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Earthrise Energy, an independent renewable energy power producer, <a href="https://mercomcapital.com/earthrise-energy-secures-360-m-financing-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the closing of a $360 million financing package to support the continued development of the company’s co-located solar project portfolio. The facility will also refinance its existing thermal portfolio debt. The co-located solar project portfolio is expected to add over 1.7 GW of renewable electricity to the grid through projects.
Econergy Renewable Energy, an independent renewable energy power producer, <a href="https://mercomcapital.com/econergy-secures-47-million-for-87-mw-oradea-solar-project/" target="_blank" rel="noopener">signed</a> a €40.5 million (~$47 million) project finance agreement with UniCredit Bank for its 87 MW Oradea solar project in the Crișana region in north-west Romania. The project has been fully connected to the grid and has been generating revenue since August 2025. The financing package will be used to refinance the loans that funded the project’s construction, among other purposes.
Zelestra, a renewable energy project developer, entered into an agreement for the sale of its Latin America <a href="https://mercomcapital.com/zelestra-to-sell-3-5gw-latin-america-renewables-platform/" target="_blank" rel="noopener">platform</a> to Promigas, a multi-energy company based in Colombia. The platform consists of a total portfolio of more than 2.1 GW of solar and battery energy storage systems capacity with 19 projects in advanced development, located in Colombia, Peru, and Chile, and 1.4 GW contracted with customers.
MOL, an integrated Central-Eastern European oil and gas company headquartered in Hungary, <a href="https://mercomcapital.com/mol-acquires-304-mw-solar-project-portfolio/" target="_blank" rel="noopener">entered</a> into a sale and purchase agreement to acquire Polsolar Kft, holding a portfolio of solar projects with a total capacity of 304 MW in Hungary. The portfolio, located near Mezőcsát in Eastern Hungary, comprises five fully operational solar projects. These projects operate under the KÁT feed-in tariff system in Hungary, with KÁT licenses in place until 2048.
WBS Power, a renewable energy project developer, <a href="https://mercomcapital.com/wbs-power-sells-150-mw-solar-and-500-mw-bess-project/" target="_blank" rel="noopener">announced</a> the sale of Project Jupiter, which includes a 500 MW/2,000 MWh battery energy storage system and up to 150 MW of solar capacity, located on a former airfield in Brandenburg, Germany. Prime Capital, acting on behalf of its Prime Green Energy Infrastructure Fund II, acquired the project.
Capital Dynamics, a private asset management firm, <a href="https://mercomcapital.com/capital-dynamics-acquires-121-mw-solar-project-portfolio/" target="_blank" rel="noopener">acquired</a> a portfolio of two solar projects totaling an installed capacity of at least 121 MW in the UK from BayWa r.e. and Grune Energien. The portfolio comprises the 77 MWp Clump farm located in Leicestershire and the 44 MWp Yanel Solar farm situated in North Somerset. The projects are scheduled to commence construction in 2026.
Novar, a developer of integrated green energy systems, has signed an agreement to <a href="https://mercomcapital.com/novar-acquires-108-mw-solar-portfolio-from-lc-energy/" target="_blank" rel="noopener">acquire</a> a portfolio of four solar PV projects from LC Energy. Located in the Netherlands, the portfolio consists of the projects Woudbloem, Veenweg Ter Apel 2, Amerongerwetering, and Magdalenahoeve, with a total capacity of 108 MWp. The acquisition is expected to strengthen Novar’s position in large-scale solar development and smart energy integration in the Netherlands.
Saxovent Renewables, a developer of solar, wind, and energy storage projects, <a href="https://mercomcapital.com/saxovent-renewables-acquires-81-8-mw-solar-project/" target="_blank" rel="noopener">acquired</a> an 81.8 MWp solar project in Mecklenburg-Vorpommern, Germany, from Milvio Energy, a Hamburg-based renewable energy project developer. The construction-ready ground-mounted project is located south of Rostock. It has an existing EEG subsidy for 20 MWp and additional potential for integrating a battery energy storage system.
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>.
Read last week&#8217;s project finance <a href="https://mercomcapital.com/project-finance-brief-acwa-partners-renewable-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Earthrise Energy Secures $360M for Solar Portfolio

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-earthrise-energy-secures-360m-for-solar-portfolio/" target="_blank" rel="noopener">Mercom Capital Group</a>
Earthrise Energy, an independent renewable energy power producer, <a href="https://mercomcapital.com/earthrise-energy-secures-360-m-financing-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the closing of a $360 million financing package to support the continued development of the company’s co-located solar project portfolio. The facility will also refinance its existing thermal portfolio debt. The co-located solar project portfolio is expected to add over 1.7 GW of renewable electricity to the grid through projects.
Econergy Renewable Energy, an independent renewable energy power producer, <a href="https://mercomcapital.com/econergy-secures-47-million-for-87-mw-oradea-solar-project/" target="_blank" rel="noopener">signed</a> a €40.5 million (~$47 million) project finance agreement with UniCredit Bank for its 87 MW Oradea solar project in the Crișana region in north-west Romania. The project has been fully connected to the grid and has been generating revenue since August 2025. The financing package will be used to refinance the loans that funded the project’s construction, among other purposes.
Zelestra, a renewable energy project developer, entered into an agreement for the sale of its Latin America <a href="https://mercomcapital.com/zelestra-to-sell-3-5gw-latin-america-renewables-platform/" target="_blank" rel="noopener">platform</a> to Promigas, a multi-energy company based in Colombia. The platform consists of a total portfolio of more than 2.1 GW of solar and battery energy storage systems capacity with 19 projects in advanced development, located in Colombia, Peru, and Chile, and 1.4 GW contracted with customers.
MOL, an integrated Central-Eastern European oil and gas company headquartered in Hungary, <a href="https://mercomcapital.com/mol-acquires-304-mw-solar-project-portfolio/" target="_blank" rel="noopener">entered</a> into a sale and purchase agreement to acquire Polsolar Kft, holding a portfolio of solar projects with a total capacity of 304 MW in Hungary. The portfolio, located near Mezőcsát in Eastern Hungary, comprises five fully operational solar projects. These projects operate under the KÁT feed-in tariff system in Hungary, with KÁT licenses in place until 2048.
WBS Power, a renewable energy project developer, <a href="https://mercomcapital.com/wbs-power-sells-150-mw-solar-and-500-mw-bess-project/" target="_blank" rel="noopener">announced</a> the sale of Project Jupiter, which includes a 500 MW/2,000 MWh battery energy storage system and up to 150 MW of solar capacity, located on a former airfield in Brandenburg, Germany. Prime Capital, acting on behalf of its Prime Green Energy Infrastructure Fund II, acquired the project.
Capital Dynamics, a private asset management firm, <a href="https://mercomcapital.com/capital-dynamics-acquires-121-mw-solar-project-portfolio/" target="_blank" rel="noopener">acquired</a> a portfolio of two solar projects totaling an installed capacity of at least 121 MW in the UK from BayWa r.e. and Grune Energien. The portfolio comprises the 77 MWp Clump farm located in Leicestershire and the 44 MWp Yanel Solar farm situated in North Somerset. The projects are scheduled to commence construction in 2026.
Novar, a developer of integrated green energy systems, has signed an agreement to <a href="https://mercomcapital.com/novar-acquires-108-mw-solar-portfolio-from-lc-energy/" target="_blank" rel="noopener">acquire</a> a portfolio of four solar PV projects from LC Energy. Located in the Netherlands, the portfolio consists of the projects Woudbloem, Veenweg Ter Apel 2, Amerongerwetering, and Magdalenahoeve, with a total capacity of 108 MWp. The acquisition is expected to strengthen Novar’s position in large-scale solar development and smart energy integration in the Netherlands.
Saxovent Renewables, a developer of solar, wind, and energy storage projects, <a href="https://mercomcapital.com/saxovent-renewables-acquires-81-8-mw-solar-project/" target="_blank" rel="noopener">acquired</a> an 81.8 MWp solar project in Mecklenburg-Vorpommern, Germany, from Milvio Energy, a Hamburg-based renewable energy project developer. The construction-ready ground-mounted project is located south of Rostock. It has an existing EEG subsidy for 20 MWp and additional potential for integrating a battery energy storage system.
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>.
Read last week’s project finance <a href="https://www.mercomindia.com/project-finance-brief-acwa-partners-renewable-projects" target="_blank" rel="noopener">brief</a>.

<a href="https://earthriseenergy.com/" target="_blank" rel="noopener">Earthrise Energy</a>, an independent renewable energy power producer, announced the closing of a $360 million financing package to support the continued development of the company&#8217;s co-located solar project portfolio. The facility will also refinance its existing thermal portfolio debt.
The co-located solar project portfolio is expected to add over 1.7 GW of renewable electricity to the grid through projects, including the 270 MW Gibson City solar project, currently under construction and expected to achieve commercial operations in 2026, and four other projects expected to commence construction in 2026.
Santander and MUFG served as the lead left arranger and the lead right arranger, respectively, of the $360 million financing package, which comprises a $300 million term loan B, a $30 million letter-of-credit facility, and a $30 million revolving credit facility. Latham &amp; Watkins advised Earthrise in the financing.
&#8220;We are pleased to complete this important financing, which we believe not only reflects the critical role our assets play in delivering reliable and resilient energy, but also the market&#8217;s confidence in our holistic approach to the energy transition,&#8221; said Jeff Hunter, Chief Executive Officer of Earthrise Energy. &#8220;This transaction marks another milestone for Earthrise following the closing of financing for, and ribbon-cutting ceremony at, Gibson City Solar earlier this year. We look forward to leveraging this capital to help us achieve our mission of powering our communities responsibly, sustainably, and equitably.&#8221;
According to Mercom&#8217;s 9M and Q3 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
In December 2025, Nofar Energy, an Israeli renewable energy company listed on the Tel Aviv Stock Exchange, <a href="https://cms.mercomindia.com/nofar-energy-secures-financing-for-531-mw-solar-project-portfolio/" target="_blank" rel="noopener">secured</a> a €192 million (~$223.05 million) financing package for the development and construction of three solar projects totaling 531 MW in southeastern Romania.

Earthrise Energy Secures $360 Million Financing for Solar Project Portfolio

Scatec, a renewable energy solutions provider, has <a href="https://cms.mercomindia.com/scatec-secures-479-million-for-solar-and-storage-project-in-egypt/" target="_blank" rel="noopener">secured</a> $479.1 million of non-recourse project financing to develop the Obelisk hybrid solar and battery storage project located in Egypt. The funding, which corresponds to approximately 80% of the total estimated capital expenditure of $590 million, was provided by the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and British International Investment (BII). The project, which has a total capacity of 1.1 GW Solar and 100/200 MWh battery energy storage, will be constructed in two phases.
CleanChoice Energy, a U.S.-based renewable energy company, <a href="https://cms.mercomindia.com/cleanchoice-energy-acquires-54-2-mw-solar-projects/" target="_blank" rel="noopener">announced</a> the acquisition of two solar projects totaling 54.2 MW in New York State from CS Energy, a solar project developer. Both solar projects will have a capacity of 27.1 MW each, with the Dolan project located in Washington County and the Hawthorn project in Rensselaer County. The construction of the projects is expected to begin in the fall of 2025, with a planned interconnection date in the fourth quarter of 2026.
Earthrise Energy, a renewable energy independent power producer, <a href="https://cms.mercomindia.com/earthrise-secures-630-million-financing-for-260-mw-solar-project/" target="_blank" rel="noopener">announced</a> the closing of $630 million in tax equity and debt financing for its 260 MWac Gibson City solar project within Illinois’s MISO power market. The project is expected to reach commercial operation in 2026. The debt financing includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility.
Lightsource bp, a solar project developer, <a href="https://cms.mercomindia.com/lightsource-bp-secures-200-million-financing-for-115-mw-fishery-solar-projects/" target="_blank" rel="noopener">secured</a> around TWD 6 billion (~$200 million) in financing for its 115 MWp fishery solar project in Budai and Yizhu Township, Chiayi County, Taiwan. The project’s construction is expected to begin in June 2025. The Budai project is expected to produce 180,000 MWh of renewable energy annually once operational.
Soltage, an independent power producer and developer of utility-scale solar and energy storage projects across the U.S., <a href="https://cms.mercomindia.com/soltage-secures-260m-financing-solar-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of a $260 million construction and term debt financing facility to support the near-term deployment of solar and storage projects from the company’s more than 2 GW development pipeline across the U.S.
Ingka Investments, the investment arm of Ingka Group, <a href="https://cms.mercomindia.com/ingka-investments-acquires-76-3-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 76.3 MW solar project portfolio in the Netherlands from the SUSI Renewable Energy Fund II, an investment vehicle managed by SUSI Partners, a Swiss-based infrastructure investment manager.  The portfolio comprises three operating solar projects: 54.36 MW Scaldia, 11.72 MW Achtkarspelen, and 10.20 MW De Kie.
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-enlight-secures-hybrid-renewable-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Scatec Secures $479 Million for Solar and Storage Project in Egypt

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-scatec-solar-storage-project-egypt/" target="_blank" rel="noopener">Mercom Capital Group</a>
Scatec, a renewable energy solutions provider, has <a href="https://mercomcapital.com/scatec-secures-479-million-for-solar-and-storage-project-in-egypt/" target="_blank" rel="noopener">secured</a> $479.1 million of non-recourse project financing to develop the Obelisk hybrid solar and battery storage project located in Egypt. The funding, which corresponds to approximately 80% of the total estimated capital expenditure of $590 million, was provided by the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and British International Investment (BII). The project, which has a total capacity of 1.1 GW Solar and 100/200 MWh battery energy storage, will be constructed in two phases.
CleanChoice Energy, a U.S.-based renewable energy company, <a href="https://mercomcapital.com/cleanchoice-energy-acquires-54-2-mw-solar-projects/" target="_blank" rel="noopener">announced</a> the acquisition of two solar projects totaling 54.2 MW in New York State from CS Energy, a solar project developer. Both solar projects will have a capacity of 27.1 MW each, with the Dolan project located in Washington County and the Hawthorn project in Rensselaer County. The construction of the projects is expected to begin in the fall of 2025, with a planned interconnection date in the fourth quarter of 2026.
Earthrise Energy, a renewable energy independent power producer, <a href="https://mercomcapital.com/earthrise-secures-630-million-financing-for-260-mw-solar-project/" target="_blank" rel="noopener">announced</a> the closing of $630 million in tax equity and debt financing for its 260 MWac Gibson City solar project within Illinois’s MISO power market. The project is expected to reach commercial operation in 2026. The debt financing includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility.
Lightsource bp, a solar project developer, <a href="https://mercomcapital.com/lightsource-bp-secures-200-million-financing-for-115-mw-fishery-solar-projects/" target="_blank" rel="noopener">secured</a> around TWD 6 billion (~$200 million) in financing for its 115 MWp fishery solar project in Budai and Yizhu Township, Chiayi County, Taiwan. The project’s construction is expected to begin in June 2025. The Budai project is expected to produce 180,000 MWh of renewable energy annually once operational.
Soltage, an independent power producer and developer of utility-scale solar and energy storage projects across the U.S., <a href="https://mercomcapital.com/soltage-secures-260m-financing-solar-storage-projects/" target="_blank" rel="noopener">announced</a> the closing of a $260 million construction and term debt financing facility to support the near-term deployment of solar and storage projects from the company’s more than 2 GW development pipeline across the U.S.
Ingka Investments, the investment arm of Ingka Group, <a href="https://mercomcapital.com/ingka-investments-acquires-76-3-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 76.3 MW solar project portfolio in the Netherlands from the SUSI Renewable Energy Fund II, an investment vehicle managed by SUSI Partners, a Swiss-based infrastructure investment manager.  The portfolio comprises three operating solar projects: 54.36 MW Scaldia, 11.72 MW Achtkarspelen, and 10.20 MW De Kie.
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-enlight-secures-hybrid-renewable-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://earthriseenergy.com/" target="_blank" rel="noopener">Earthrise Energy</a>, a renewable energy independent power producer, announced the closing of $630 million in tax equity and debt financing for its 260 MWac Gibson City solar project within Illinois&#8217;s MISO power market.
The project is expected to reach commercial operation in 2026.
The debt financing includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility.
BBVA, Intesa Sanpaolo, and Nord/LB served as coordinating lead arrangers and bookrunners for the debt financing, and a Fortune 500 telecommunications company provided the tax equity commitment.
Marathon Capital acted as the exclusive financial advisor, while Cornerstone Financial Advisors acted as the exclusive financial advisor to the tax equity investor. Latham &amp; Watkins served as the principal counsel to Earthrise, while Milbank served as the principal counsel to the lenders.
&#8220;Securing this financing for Gibson City Solar marks a significant milestone for Earthrise, and we are proud to have structured the first solar project finance transactions utilizing surplus interconnection service in MISO. This structure presented attributes that required innovative structuring, and together with the coordinating lead arrangers and tax equity investor, we developed solutions which we believe will serve as a blueprint for similar projects going forward,&#8221; said Kenton Harder, VP Capital Markets, Earthrise Energy.
&#8220;At Earthrise, we are committed to advancing a future where clean energy is reliable and resilient. This transaction marks a pivotal achievement in delivering utility-scale solar solutions to the grid, backed by a differentiated project development strategy, robust financial innovation, and operational discipline,&#8221; added Jeff Hunter, CFO of Earthrise Energy.
According to Mercom&#8217;s Q1 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, announced large-scale solar project funding increased by 27% in Q1 2025 compared to Q1 2024.
Earlier this week, rPlus Energies, a solar and energy storage project developer, <a href="https://mercomcapital.com/rplus-energies-secures-800-mw-hybrid-energy-project/" target="_blank" rel="noopener">secured</a> over $500 million in tax equity funding commitments to support the development and construction of the Green River Energy project in Emery County, Utah.

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