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Mainstream Renewable Power, a solar and wind project developer, announced the financial <a href="https://cms.mercomindia.com/mainstream-secures-financing-for-50-mw-solar-project-in-south-africa/" target="_blank" rel="noopener">closure</a> of its 50 MW Ilikwa solar project in the Free State province of South Africa. The financial details of the transaction remained undisclosed. Construction has already begun on the project, and commercial operation is expected in early 2026. Once fully operational, the solar project is expected to produce 141 GWh of clean electricity annually, enough to power over 42,000 households.
Enerside, a Spain-based vertically integrated solar company, <a href="https://cms.mercomindia.com/enerside-sells-5-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">announced</a> the sale of two Brazilian distributed-generation solar projects totaling 5 MW (6.6 MWp) to IVI ENERGIA, a Brazilian energy company owned by investment fund Brookfield Renovables. IVI ENERGIA acquired the projects at R$20.8 million (~$3.77 million), approximately €1.3 million/MW (~$235,936/MW) for the project in operation and €100,000/MW (~$18,148.9/MW) for the ready-to-build project.
BrightNight, an independent renewable energy power producer, <a href="https://cms.mercomindia.com/brightnight-secures-tax-equity-financing-solar-project/" target="_blank" rel="noopener">announced</a> the financial closure of a $260 million tax-equity financing commitment, including deferred contributions, for the development of 300 MW Box Canyon solar project, jointly owned with Cordelio Power in Arizona.The project is expected to become operational in the first half of 2025.
Aura Power, a Bristol-based renewable energy project developer, <a href="https://cms.mercomindia.com/aura-power-secures-39-million-project-financing-for-kemble-solar-project/" target="_blank" rel="noopener">secured</a> £30 million (~$39.28 million) in a project financing debt facility from Coöperatieve Rabobank to construct the 49.9 MW Kemble solar farm in the U.K. ib vogt will provide engineering, procurement, and construction services. Construction of the project is expected to begin in early 2025.
Enel Colombia, a subsidiary of Enel Group, an Italian multinational manufacturer and distributor of electricity and gas, <a href="https://cms.mercomindia.com/enel-secures-300-million-financing-from-european-investment-bank/" target="_blank" rel="noopener">secured</a> a term loan in Colombian pesos equivalent to $300 million from the European Investment Bank in partnership with SACE, the Italian insurance and financial group owned by Italy’s Ministry of Economy and Finance. The funding will be used to develop the Guayepo I and II solar PV plants, with approximately 486 MW of total capacity, and to improve and expand the Enel Colombia distribution business.
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-sabanci-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Mainstream Secures Financing for 50 MW Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-mainstream-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Mainstream Renewable Power, a solar and wind project developer, announced the financial <a href="https://mercomcapital.com/mainstream-secures-financing-for-50-mw-solar-project-in-south-africa/" target="_blank" rel="noopener">closure</a> of its 50 MW Ilikwa solar project in the Free State province of South Africa. The financial details of the transaction remained undisclosed. Construction has already begun on the project, and commercial operation is expected in early 2026. Once fully operational, the solar project is expected to produce 141 GWh of clean electricity annually, enough to power over 42,000 households.
Enerside, a Spain-based vertically integrated solar company, <a href="https://mercomcapital.com/enerside-sells-5-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">announced</a> the sale of two Brazilian distributed-generation solar projects totaling 5 MW (6.6 MWp) to IVI ENERGIA, a Brazilian energy company owned by investment fund Brookfield Renovables. IVI ENERGIA acquired the projects at R$20.8 million (~$3.77 million), approximately €1.3 million/MW (~$235,936/MW) for the project in operation and €100,000/MW (~$18,148.9/MW) for the ready-to-build project.
BrightNight, an independent renewable energy power producer, <a href="https://mercomcapital.com/brightnight-secures-tax-equity-financing-solar-project/" target="_blank" rel="noopener">announced</a> the financial closure of a $260 million tax-equity financing commitment, including deferred contributions, for the development of 300 MW Box Canyon solar project, jointly owned with Cordelio Power in Arizona.The project is expected to become operational in the first half of 2025.
Aura Power, a Bristol-based renewable energy project developer, <a href="https://mercomcapital.com/aura-power-secures-39-million-project-financing-for-kemble-solar-project/" target="_blank" rel="noopener">secured</a> £30 million (~$39.28 million) in a project financing debt facility from Coöperatieve Rabobank to construct the 49.9 MW Kemble solar farm in the U.K. ib vogt will provide engineering, procurement, and construction services. Construction of the project is expected to begin in early 2025.
Enel Colombia, a subsidiary of Enel Group, an Italian multinational manufacturer and distributor of electricity and gas, <a href="https://mercomcapital.com/enel-secures-300-million-financing-from-european-investment-bank/" target="_blank" rel="noopener">secured</a> a term loan in Colombian pesos equivalent to $300 million from the European Investment Bank in partnership with SACE, the Italian insurance and financial group owned by Italy’s Ministry of Economy and Finance. The funding will be used to develop the Guayepo I and II solar PV plants, with approximately 486 MW of total capacity, and to improve and expand the Enel Colombia distribution business.
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-sabanci-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://enerside.com/" target="_blank" rel="noopener">Enerside</a>, a Spain-based vertically integrated solar company, announced the sale of two Brazilian distributed-generation solar projects totaling 5 MW (6.6 MWp) to IVI ENERGIA, a Brazilian energy company owned by investment fund Brookfield Renovables.
IVI ENERGIA acquired the projects at R$20.8 million (~$3.77 million), approximately €1.3 million/MW (~$235,936/MW) for the project in operation and €100,000/MW (~$18,148.9/MW) for the ready-to-build project.
The sale comprises phase 1 of the project, which is already in operation, and an extension of phase 2, which is set to begin construction. According to Enerside, once operational, the projects will produce up to 13.6 GWh of clean electricity annually.
&#8220;We are very satisfied with this transaction because, on the one hand, it has been carried out at a time of clear recovery in the price of energy in Brazil and on the other hand, because it is a transaction carried out from start to finish by our team in Brazil with support from Spain, in one of the main renewable energy markets worldwide,&#8221; explains Enerside&#8217;s CEO, Joatham Grange.
Brazilian industrial group Raízen signed a lease contract with Enerside under which it will receive renewable energy produced by the project. The facility sold will supply the company up to 7.7 GWh per year for 15 years.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 113 solar project acquisitions totaling 18.5 GW were announced in 1H 2024 compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
Last week, ContourGlobal, an independent power producer and a KKR company announced the <a href="https://cms.mercomindia.com/contourglobal-acquires-151-mw-solar-project-portfolio/" target="_blank" rel="noopener">acquisition</a> of a 151 MW solar project portfolio in South Carolina from Sun Tribe Development, a solar and energy storage project developer. The portfolio comprises two solar projects currently in the late stages of development, and long-term power purchase agreements have been signed.

Enerside Sells 5 MW Solar Project Portfolio in Brazil

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