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Origis Energy, a renewable energy platform, <a href="https://cms.mercomindia.com/origis-energy-secures-545-million-financing-texas-solar-portfolio/" target="_blank" rel="noopener">reached</a> financial close on an approximately $545 million senior secured project financing with Natixis Corporate &amp; Investment Banking and Santander Corporate &amp; Investment Banking for three utility-scale solar projects (the Rockhound Projects). The portfolio, in Ector County, Texas, has a combined installed capacity of 413 MW.
Enery, an independent power producer in Central and Eastern Europe, <a href="https://cms.mercomindia.com/enery-secures-535-million-financing-ogrezeni-hybrid-project/" target="_blank" rel="noopener">reached</a> a close on a €460 million (~$535 million) syndicated green project financing to fund the construction of its Ogrezeni hybrid project in Giurgiu County, Romania. The project, which combines solar with battery energy storage systems, has an installed capacity of 761 MWp/534 MWac and over 1 GWh of battery storage capacity.
Avantus, a developer of utility-scale solar and solar-plus-storage projects, <a href="https://cms.mercomindia.com/avantus-closes-over-300-million-for-kitt-solar-and-energy-storage-project/" target="_blank" rel="noopener">secured</a> a financing package of more than $300 million with Banco Bilbao Vizcaya Argentaria and Canadian Imperial Bank of Commerce, New York Branch, for the Kitt solar and energy storage project. Located in Pinal County, Arizona, the project includes 100 MWac/130 MWdc of solar and 400 MWh of energy storage.
Nofar USA, the U.S. subsidiary of Israeli renewable energy independent power producer Nofar Energy, <a href="https://cms.mercomindia.com/nofar-usa-closes-acquisition-of-1-gw-of-solar-projects/" target="_blank" rel="noopener">closed</a> its previously approved acquisition of approximately 1 GW of solar energy projects from Pine Gate Renewables, a utility-scale solar project developer. The acquired portfolio comprises operating and development-stage utility-scale solar projects across Texas, Alabama, South Carolina, and North Carolina.
BayWa r.e., a renewable energy project developer, <a href="https://cms.mercomindia.com/baywa-r-e-sells-14-2-mw-ci-solar-portfolio-in-italy/" target="_blank" rel="noopener">completed</a> the sale of 100% of the share capital of its subsidiary WHF 01 to NetOn Power, a renewable energy platform launched by investment firms Quantum Energy Partners and 547 Energy. The special-purpose vehicle, controlled by BayWa r.e. Power Solutions, includes a portfolio of four commercial and industrial solar rooftop and carport projects located across Italy, totaling approximately 14 MWp.
Bank of Baroda <a href="https://www.mercomindia.com/bank-of-baroda-raises-%E2%82%B9100-billion-through-green-infrastructure-bonds" target="_blank" rel="noopener">raised</a> ₹100 billion (~$1.1 billion) through green infrastructure bonds to support long-term funding for renewable energy and sustainable infrastructure projects. The Series I Long-Term Green Infrastructure Bonds received total bids of ₹164.15 billion (~$1.8 billion), which was over three times the base issue size of ₹50 billion (~$545.65 million). The bank had offered a greenshoe option of an additional ₹50 billion (~$545.65 million).
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-arevon-energy-secures-183-million-for-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Origis Secures $545 Million Solar Project Portfolio

<a href="https://enery.energy/en/" target="_blank" rel="noopener">Enery</a>, an independent power producer in Central and Eastern Europe, reached financial close on a €460 million (~$535 million) syndicated green project financing. The funding will be used for the construction of its Ogrezeni hybrid project in Giurgiu County, Romania.
The project, which combines solar with battery energy storage systems, has an installed capacity of 761 MWp/534 MWac and over 1 GWh of battery storage capacity.
A consortium of banks comprising UniCredit, Intesa Sanpaolo Group, represented by Intesa Sanpaolo Bank Romania and Všeobecná úverová banka from Slovakia, ING Bank, and its Romanian subsidiary, Banca Transilvania, National Bank of Greece, Exim Banca Românească, and Alpha Bank, provided the funding to the company.
The transaction includes term loan facilities, a revolving facility, a VAT facility, and ancillary facilities, as well as an accordion feature of up to €79 million (~$93 million), allowing for a potential further increase of the project’s battery storage capacity.
Richard König, CEO, and Lukas Nemec, COO at Enery, commented: “Securing this financing is a major step in Enery’s growth journey and a clear vote of confidence in our ability to deliver complex, future-proof renewable energy infrastructure at scale. With our Sustainable Financing Framework now in place, we are strengthening the foundation for long-term development across the CEE region and accelerating the transition to a more resilient, low-carbon energy system.”
The financing was structured under Enery’s newly adopted Sustainable Financing Framework. Sustain LCM Finance served as debt syndication advisor on behalf of Enery. Schönherr acted as the borrower’s legal advisor, while Clifford Chance Badea served as the lender’s legal advisor.
Previously, the company had <a href="https://cms.mercomindia.com/enery-secures-over-297-million-project-financing/" target="_blank" rel="noopener">secured</a> more than €250 million (~$297 million) in long-term portfolio project financing with Československá obchodní banka in February. Further, in October 2025, Enery <a href="https://cms.mercomindia.com/enery-acquires-34-6-mw-solar-portfolio-in-slovakia/" target="_blank" rel="noopener">acquired</a> Project Lassie, a portfolio of 32 operational solar projects totaling 34.6 MW, across Slovakia, from ContourGlobal, an independent power producer.
Large-scale project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.

Enery Secures $535 Million Financing for Ogrezeni Hybrid Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-low-carbon-closes-over-684-million-in-debt/" target="_blank" rel="noopener">Mercom Capital Group</a>
Low Carbon, a renewable energy project developer, <a href="https://mercomcapital.com/low-carbon-closes-over-684-million-in-debt-financing/" target="_blank" rel="noopener">raised</a> more than £500 million (~$684 million) across senior and Holdco financing in partnership with ten major international banks. The facility, structured as a platform financing, will allow the inclusion of new projects in the future as the company grows its renewables portfolio across Europe. This 10-year senior facility will refinance the construction line for the company’s 1 GW portfolio of solar and battery storage projects, either in operation or under construction.
Radial Power, an affiliate of energyRe, and Lotus Infrastructure Partners, a private equity firm focused on energy infrastructure investments, <a href="https://mercomcapital.com/radial-power-secures-355-million-tax-equity-debt-financing/" target="_blank" rel="noopener">announced</a> the closing of a $355 million tax equity and debt financing with Goldman Sachs. The financing will support the development, construction, and operation of approximately 214 MW of distributed solar capacity across 106 projects across the U.S. This funding utilizes Goldman’s “End-to-End Distributed Generation” financing structure to provide a single source of third-party funding for the portfolio.
Enery, an independent power producer in Central and Eastern Europe, <a href="https://mercomcapital.com/enery-secures-over-297-million-project-financing/" target="_blank" rel="noopener">secured</a> more than €250 million (~$297 million) in long-term portfolio project financing, with Československá obchodní banka. The company is said to operate a diversified portfolio with 566 MW of installed capacity and 213 MW under construction, generating 766 GWh of clean energy. The financing will support the development and operation of a cross-border renewable energy portfolio in Czechia, Slovakia, Bulgaria, and Slovenia.
360 Energy, a renewable energy project developer, <a href="https://mercomcapital.com/energy-developer-360-energy-74-million-project-financing/" target="_blank" rel="noopener">secured</a> approximately €63 million (~$74 million) in project financing for its Verila Solar Park 2. Raiffeisen Bank International and UniCredit Bulbank provided the funding. The funding will support the development, construction, and operation of a new battery energy storage system in Bulgaria with a capacity of approximately 360 MWh. The project will be located near the city of Dupnitsa.
Alpiq, a Switzerland-based electricity producer and energy service provider, <a href="https://mercomcapital.com/alpiq-acquires-100-mw-200-mwh-battery-storage-project/" target="_blank" rel="noopener">acquired</a> the Cheviré operational battery energy storage project located at the port of Nantes Saint-Nazaire in western France from Harmony Energy, a European developer of battery energy storage systems. The project, with an output capacity of 100 MW/200 MWh, was commissioned in December 2025 and is currently the largest in the country.
PNE, a Germany-based renewable energy project developer, <a href="https://mercomcapital.com/project-developer-pne-sells-40-mw-solar-project-poland/" target="_blank" rel="noopener">sold</a> a 40 MW solar project located in Poland to ORLEN, a Polish multinational oil refiner, petrol retailer, and natural gas trader. The transaction was executed through PNE’s local subsidiary, PNE Polska. The deal involves the sale of 100% of the shares in the project company RES Project 5, which holds the rights to build and operate the project located in the vicinity of ORLEN’s production plant in Płock.
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://mercomindia.com/project-finance-brief-encavis-non-recourse-financing" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Low Carbon Closes Over $684 Million in Debt

<a href="https://enery.energy/en/" target="_blank" rel="noopener">Enery</a>, an independent power producer in Central and Eastern Europe, secured more than €250 million (~$297 million) in long-term portfolio project financing, with Československá obchodní banka.
The company is said to operate a diversified portfolio with 566 MW of installed capacity and 213 MW under construction, generating 766 GWh of clean energy.
The financing will support the development and operation of a cross-border renewable energy portfolio in Czechia, Slovakia, Bulgaria, and Slovenia. The proceeds will fund the construction of a 300 MW portfolio of solar projects and 100 MW/220 MWh of co-located battery energy storage systems.
“Securing more than EUR 250 million through this long-term portfolio financing is another strong endorsement of our strategy and execution capabilities. This financing enables us to accelerate the delivery of 300 MW of solar PV and 100 MW/220 MWh of co-located battery energy storage across 4 energy markets. By combining renewable generation with flexibility solutions, we are helping strengthen energy security, support grid stability, and deliver reliable green electricity for the long term, making the energy transition real and impactful for customers and communities across the CEE region,” said Richard König, CEO, and Lukas Nemec, COO at Enery.
Československá obchodní banka acted as the sole lender, while United Bulgarian Bank AD, and Československá obchodná banka acted as subparticipants. The financing has a tenor of 22 years.
“This long-term financing represents a major milestone for Enery and a strong vote of confidence in our strategy, execution capabilities, and portfolio quality across Central and Eastern Europe,” said Teodor Filip, VP Financing at Enery. “It strengthens our ability to scale renewable generation and storage solutions in the region and supports our contribution to long-term decarbonization goals.”
In October 2025, Enery <a href="https://cms.mercomindia.com/enery-acquires-34-6-mw-solar-portfolio-in-slovakia/" target="_blank" rel="noopener">acquired</a> Project Lassie, a portfolio of 32 operational solar projects totaling 34.6 MW across Slovakia, from ContourGlobal, an independent power producer.
Large-scale project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.

Enery Secures Over $297 Million Project Financing

<a href="https://enery.energy/en/" target="_blank" rel="noopener">Enery</a>, an independent renewable energy power producer in Central and Eastern Europe, acquired Project Lassie, a portfolio of 32 operational solar projects totaling 34.6 MW, across Slovakia, from ContourGlobal, an independent power producer.
Earlier, Energy Infrastructure Partners owned a 49% stake, while ContourGlobal held a 51% stake in the project. The company did not disclose the financial details of the acquisition.
With this transaction, Enery&#8217;s total operating portfolio expands to 561 MW. The acquisition further expands Enery&#8217;s footprint in Slovakia, adding to its existing 10 MW portfolio of three solar projects and complementing its Slovak development pipeline of 0.6 GW.
Carlo Zorzoli, Head of Europe and Africa for ContourGlobal, &#8220;This portfolio has played an important role in advancing solar generation in Slovakia and continues to contribute to the country&#8217;s clean-energy ambitions. We are very pleased that our partner, Enery, will continue to operate and develop it with the same commitment to reliability and sustainability. For ContourGlobal, this transaction is part of our strategy to focus growth in core geographies and supports our ongoing global transformation into a predominantly renewable IPP, as reflected in our recent rebranding&#8221;.
Ján Horváth, Country Head Slovakia, &#8220;I am delighted that we continue to expand our presence in Slovakia. At Enery Slovakia, we are preparing several projects that will enable industrial companies to reduce their carbon footprint through long-term Power Purchase Agreements (PPAs) and gain access to affordable and reliable green energy. This portfolio acquisition allows us to actively contribute to the decarbonization of the Slovak industry&#8221;.
In October 2025, METLEN Energy &amp; Metals (previously known as MYTILINEOS), a global industrial and energy company, and Korean energy investment and development company HRE, <a href="https://cms.mercomindia.com/metlen-sells-42-mw-solar-project-portfolio-in-south-korea/" target="_blank" rel="noopener">entered</a> into an agreement under which HRE will acquire a diversified portfolio of solar projects in South Korea totaling 42 MW. METLEN built phase 1 of the renewable energy portfolio.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, according to Mercom’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>.

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